People like cars. Hardly a startling revelation, but a recent survey by Dods Research on UK commuter behaviour underlined just how much they want to drive to work.
Some 88 per cent regularly commute by car and only 26 per cent said they would like an alternative.
It stands to reason, then, that any employer who can make a new car more affordable for their employees is offering a substantial and very welcome benefit.
SalaryPlan – a salary sacrifice for cars scheme from vehicle management giant LeasePlan – is an excellent way to do just that.
MORE SPENDING POWER
The term “salary sacrifice” is somewhat misleading, since the employee actually gains rather than gives something up.
As with childcare vouchers and corporate healthcare schemes, it simply involves agreeing to a reduction in gross salary in exchange for the car.
Depending on the tax band of the individual, this can boost the employee’s spending power by up to 30-45 per cent.
In addition, LeasePlan’s size and negotiating power with all the major car makers mean that employees enjoy significant discounts on the cost of the vehicle. No deposit or credit checks are needed either.
Well almost no worries… virtually worry-free motoring as the SalaryPlan package includes fully comprehensive insurance, servicing and maintenance, five-star breakdown cover, tyres and glass.
The employee, of course, has to pay for fuel, but because newer cars are generally much more efficient, a saving is very likely there too.
Any employer who can make a new car more affordable for their employees is offering a substantial and very welcome benefit
After two or three years, you can choose a new car, purchase the car that you have grown to love or simply hand it back and do something different.
For the employee, it’s a virtually unbeatable deal.
GOOD FOR YOU TOO
At the same time, there are considerable benefits for the employer.
Clearly, employees taking advantage of SalaryPlan are going to feel happy about their new car and won’t be distracted by worries – and, as we all know, a happy workforce is a more productive workforce.
Being able to offer a wide range of employee benefits is key to attracting and retaining good staff, and SalaryPlan represents a fantastic addition to any benefits portfolio.
It’s reassuring to know that employees are driving reliable, safer cars that will start first time in the morning and are less likely to break down in the middle of nowhere. Something you really don’t want to happen if your organisation is a provider of essential services.
Nor will you pay a premium for wear and tear on these vehicles when they’re used on company business.
Depending on how you design your scheme, you could share in any savings that it generates. Don’t forget, we’re with you every step of the way.
And the bigger issue of saving the environment also comes into the equation. Because new cars use less fuel, you’ll be doing your bit for the environment by reducing the overall carbon footprint
EXPERIENCE AND EXPERTISE
Setting up and running SalaryPlan isn’t difficult, not least because of LeasePlan’s years of experience in the field.
They’ve been helping organisations and businesses to implement salary sacrifice schemes since 2010. And SalaryPlan is now available to 90,000 employees in the UK.
It’s a measure of the popularity of the scheme and of the level of support provided that no employer has ever withdrawn after joining.
LeasePlan experts can advise on all the key choices: how to strike the right balance between maximising employee benefits and minimising company costs; how to cover eventualities, such as employees leaving or falling ill; and even which cars would be the most appropriate for your staff to choose.
They help to present and explain the scheme to your employees. And the whole scheme is run through a dedicated, easy-to-use online portal.
TAILORED TO YOU
All organisations are different, of course. So SalaryPlan can be shaped to suit individual needs and circumstances.
Listening is the first stage in the process – and experts are ready now to listen to your questions, concerns and aspirations.
Call 0844 493 5810 or e-mail firstname.lastname@example.org to set the wheels in motion