There are still many salary sacrifice options for employers to take advantage of today, and one solution that you should certainly consider is the bike to work scheme. There are more benefits for employers than meets the eye. Read on to discover more about what you can gain from bike to work schemes.
- Improve attendance – One of the great benefits associated with employee benefits like this is that you are bound to see your attendance rates increase. This is because cycling to work will have a positive impact on a person’s physical health, as well as their emotional health, improving tolerance to stress, self-confidence, and wellbeing.
- Boost productivity levels – This leads on from the first point. All of the benefits mentioned above also result in improved productivity.
- Save money – Of course, one of the main benefits is that you will be able to save a considerable amount of money. Businesses and organisations can save 13.8 per cent of the total value of salary sacrifice as a result of reduced NI contributions.
- No implementation costs – Not only will you save money, but also you won’t have to spend any money on implementing this scheme.
- Improve retention rates – As is the case with most salary sacrifice schemes, this is a great way to boost retention rates. Employees are more likely to stay with your business if they feel there are a lot of perks.
- Boost branding – There is no denying that this is the type of scheme that can do wonders for your brand image. You will show your business in a positive light – a firm that cares about its employees and the environment too. This will be a great way to appeal to potential recruits.
- Reduced parking – You will lower the number of people that require car parking spaces.
- Environmental benefits – Bike to work schemes have a positive impact on the environment. By switching to cycling, someone who takes a four-mile journey every day will lower their yearly carbon footprint by six per cent.