It’s no secret that the way we work today looks completely different than it did just a few months ago. With social distancing guidelines in place, companies across the U.S. have shifted to remote work, and many employers are considering adopting this new model on a permanent basis.
According to a recent Wall Street Journal article, “Facebook has joined companies including Twitter and Square in saying it will begin allowing select employees to work remotely full time, expecting 50% of its workforce to be remote within five to 10 years.”
And it’s not just the social media giants; Nationwide, an insurance company based in Columbus, Ohio, recently announced its permanent transition to remote work for many of its employees.
So what happens when companies no longer require their employees to come into the office? One not-so-unlikely theory involves a mass labor exodus out of hubs like New York City and San Francisco, and into smaller cities and surrounding suburbs with more space and lower cost of living.
Now that many U.S. workers have the ability to live and work from wherever, cities across the country should begin ramping up efforts to attract those people to their communities.
Clinton County, Iowa partnered with Peanut Butter in an effort to attract college-educated workers to the area by offering Student Loan Assistance to new residents. The monthly stipend offered is $30 from the county, which goes directly towards paying off his or her student debt. Other employers and organizations in the area have joined the program and provide additional stipends of $30, compounding the monthly stipend.
Prior to this program, the county was in the midst of a large population decline and struggled to find qualified candidates for jobs. Clinton County auditor Eric Van Lancker identified student debt as a critical issue that can be used to drive its economy forward. “We realize that reversing Clinton County’s population decline will benefit our tax base.”
As more U.S. workers consider relocating to rural and suburban areas, now is the time to make your community a destination of choice by offering Student Loan Assistance.
Implementing a Student Loan Assistance program helps incentivize college-educated workers to move to your area and encourages college grads to return home after completing their degrees. The result is more families staying together, increased economic growth, and greater sustainability for the community and its residents.
Attract college-educated workers to your community today with Student Loan Assistance.