Cycle to work schemes are a very popular employee benefit
Here’s how it could aid your business, too…
Everyone knows that physical health is a priority to maintain by eating right, working out and making sure that we have enough rest.
Employers have numerous ways you can assist your employees’ physical health. From Cycle To Work schemes, discounts on gym memberships to the online classes for fitness, there’s a lot of ways to help. Your employees would like this as well – over 70% of employees say they feel it is their employers responsibility to ensure their physical fitness and wellbeing.
If you’re considering the possibility of offering a Cycle To Work scheme, you may be wondering how it works and what benefits it could bring for your company? We’ve compiled 5 advantages that employers can reap…
What is an Cycle to Work Scheme?
Through the Cycle To Work scheme your employees can have access to their ideal bike regardless of whether it’s a mountain bicycle, BMX or an electric bike. They can be spread out over a period of 12 to 18 months making it cheaper. Additionally they’ll also save as much as 42% on tax and NI-related contributions, as well as on travel expenses and increase their fitness.
Top 5 Benefits for Employers of providing an Employee Cycle To Work scheme:
1. Conserve your money:
For businesses, you could cut down to 13.8 percent on National Insurance payments because of the arrangement for salary sacrifice.
2. Staff with healthier health, better productivity and mental wellbeing:
Exercise can reduce the chances of contracting major diseases like heart disease and Type 2 diabetes, stroke and cancer by around 50 percent. It also boosts confidence and mood, energy and sleep quality while reducing the chances of depression and stress.
If we’re in a good state of mind and are more active, you’ll feel better and perform better at work. Additionally, cycling is the perfect method to exercise and get some the fresh air.
3. Environmental benefits
There are more than just the health benefits of cycling, but there are environmental benefits as well. When you cycle to work, that there are fewer cars on the road , and lower emissions, a great method to decrease the carbon footprint of your business. In addition, if more employees are cycling , you can swap parking spaces to green!
4. Better employee engagement and retention
The Cycle To Work scheme is an employee benefit that’s both practical and fun and helps to create employees who are healthier, happier and more inclined to remain with your company for the long haul.
5. Easy to put into practice
Through Cycle To Work, our Cycle To Work scheme, we’ll handle it on your behalf, providing the administration platform to ensure it won’t add on to your work load. We’ll also assist you to come up with a plan of communication to encourage people to sign up.
