High house prices put the brakes on growth: businesses step in to help new recruits

The focus group involving 16 companies highlights the most commonly used measures to tackle the problem, including direct financial contributions and temporary support for new recruits, guarantees provided to homeowners, and schemes for subsidised mortgages. Where implemented, these measures also yield benefits for the companies themselves, as demonstrated by the reduction in staff turnover due to housing issues at Edison, or the halving of drop-out rates from train driver training courses at Trenord.

“Today,” commented Marta Spinelli, Vice-President for Welfare, Health and Safety at Work and Industrial Relations at Assolombarda, “companies are not merely expected to generate economic value: their ability to grow, innovate and attract talent also depends increasingly on the contribution they can make to the quality of life of the people and communities in which they operate. This is the concept of generative welfare, within which access to housing is now one of the most pressing challenges.”

The research shows that tax relief on payments made in this area, tax incentives and new affordable housing are the three most frequent requests made to the authorities, reflecting the widespread belief that, now more than ever, more decisive public action is needed in this area.

“The imbalance between supply and demand is clear,” explains Arrigo Giana, Vice-President for Infrastructure at Assolombarda, “and we need to address this issue at the metropolitan city level. That is why we have launched the strategic ‘Piano Casa Assolombarda’ project, to support businesses in meeting their workers’ housing needs and to strengthen their ability to attract and retain the skills necessary for growth. Assolombarda has already begun discussions with the relevant institutions – starting with the City of Milan and the Lombardy Region – and with industry stakeholders. We now need to take this to the next level by promoting public-private partnerships and effective, replicable housing models.”