Aurora Health Care, a Wisconsin-
based conglomerate with more
than 200 hospitals, clinics, and
pharmacies and more than
26,000 employees, has had an
Employer-Assisted Housing
program similar to Philadelphia
Home-Buy-Now in place since
1993. Aurora’s program provides
employees with extensive
homeownership
counseling and
up to
$3,000 in cash toward the
purchase
of a new home. Comparing
employees who participate in
the housing program with those
who do not, Aurora has found
that Employer-Assisted Housing
program participants:
■ Stay longer, with average
retention times almost 50 percent
above the company average.
■ Perform better, with average
participants rated “exceptional”
in performance reviews, while
average non-participants were
rated only “competent.”
■ Are more likely to come from
sought after sectors of the workforce
(23 percent more likely to
be young professional, 35 percent
more likely to be minority).
Attract the best and brightest:
Philadelphia Home-Buy-Now is an additional benefit that will attract a world class workforce and put you ahead of other potential employers.
■ Avoid high turnover costs:
Replacing an employee can cost as much as 150% in annual salary in lost revenue from separation pay, replacement costs and reduced productivity. Philadelphia Home-Buy-Now offers the opportunity to retain those employees as well as offer a benefit that is proven.
■ Improve your brand and your market:
Especially in place-based businesses like restaurants, retail and education, your community is an important part of your brand and your market. Helping your employees buy homes in your city stabilizes and enhances the community, creating a more attractive setting for your business and a more prosperous clientele for your goods.
Here's how it works:
■ Step 1: A team of experts from Philadelphia Home-Buy-Now works with you to create a customized program for your employees. Programs can be tailored to help encourage employees to live in specific neighborhoods near their workplace, to help attract employees in specific professions and in lots of other ways. What’s important is that your business’ program fits your needs.
■ Step 2: When one of your employees sets out to buy a home, he or she can count on support from Philadelphia Home-Buy-Now. Your company sets the stage, contributing as much as you’d like toward your employee’s purchase, and then the City of Philadelphia will match your contribution up to $4,000.
■ Step 3: That’s it. With an investment of just $4,000, you may be able to put $8,000 to work in an investment that will pay returns to your company, your employee and the community.
To learn more or enroll your company, call 215-683-2126 or email: Jim.Flaherty@phila.gov