It can be hard to build a business case for implementing a new employee benefit, but with the cycle to work scheme it’s easy.
Employees save 25 – 39% on a new bike and get to spread the cost too. Think of this as a year-round sale with interest-free finance. Employers win big as well. Employers save up to 13.8% in National Insurance Contributions (NICs) for every employee who goes through the scheme. What does this mean in practice?
On average, an employer will save £138 for every £1,000 they process via the scheme.
Employers also fully recover the initial cost of the bike, and gain a healthier, happier and more productive workforce too, what is not to love!
It's often claimed that cycle-to-work schemes are laborious or admin heavy, but this is simply not the case. Find out why this employer is passionate about their chosen provider, Cyclescheme.
Luckily not only did Laura (their super HR manager) wax lyrical about the benefits of having staff that cycle but she also notes how easy it is to sign up and the quality of their straight forward processes!