Reduce Costs and Improve Retention in Your Business
Forward-thinking companies who have been pushing through the economic downturn are reaping the benefits of salary sacrifice. Salary sacrifice has been increasingly popular in recent years, offering employees non-cash benefits for a contractual reduction in pay. So, how can you use this to reduce costs and improve retention in your business?
Employee benefits are becoming increasingly important amongst the collective workforce. In fact, statistics from 2019 show that 75% of people are more likely to stay with their employer due to their benefits package. Most companies tend to offer pension arrangements, but these are flexible. A salary sacrifice car attracts and commits the best level of candidate for your company. Most salary sacrifice car scheme specialists offer an employer some peace of mind by taking control of the maintenance of a vehicle. This leaves the employee more focused on the core business, rather than the upkeep of their car.
Companies have been using the beneficial scheme to slash CO2 emissions and meet environmental targets
Take the 2050 Net Zero target for example or the 2030 ban on the sale of petrol and diesel car. The companies who take advantage of the salary sacrifice opportunity have seen their emissions drop. This is down to the economical technology behind new cars. We supply zero-emissions vehicles, it’s rare we ever get an order for a non-electric based on how affordable they are!
The car is essentially treated as a taxable benefit. Therefore, the lower the CO2 of the car, the bigger the saving you make! The scheme also creates significant savings on tax and National Insurance, which puts a real edge over traditional vehicles!
If you’re interested in going electric, we urge you to contact us!