Should I Get a Salary Sacrifice Scheme: How Important is it for Your Business in 2022?

It’s been a jam-packed year, but 2021 is coming to a close. Are you thinking about how you can boost your recruitment process in your business ready for 2022? Recruiting the right talent for your company can often be a challenge, but it can be easier. By offering the right incentives, you may find it easier to find the perfect person to fill your vacancies. More and more people are becoming environmentally conscious. So, salary sacrifice schemes are becoming an increasingly popular incentive that many job-hunters may be looking for. Here’s why we think you should get a salary sacrifice scheme and why it’s important for your business in 2022.

What is a Salary Sacrifice Scheme?

A salary sacrifice scheme is very similar to cycle to work schemes, but instead, an employee will give up a very small portion of their salary in exchange for an electric car. The benefit to the employee is that they get an electric car at a fraction of the cost, with everything included—apart from the charge! This also means a reduction in motoring costs and lower car tax.

What are the Benefits of a Salary Sacrifice Scheme?

A salary sacrifice scheme is not just intended to benefit the employee (although it really does!). It also benefits your company. Here are just a few of the reasons why so many companies are now choosing to offer a salary sacrifice scheme to their employees:

• An attractive benefit that could encourage new staff to want to join the business
• Used as a retention tool for your existing members of staff
• You can save on National Insurance (on low CO2 cars)
• Your company will be perceived as more eco-friendly, which is another attractive trait to attract new recruits

How Do I Set Up a Scheme?

Setting up a scheme in your business is incredibly easy! There’s a three-way agreement between us, you and the employee—you deduct the money from the employee’s salary every month, and use that to pay us. We also manage almost all of the administrative side of your contract, so implementing a new scheme won’t result in lots of extra work for you. To set up your scheme in a few clicks, just fill in our scheme agreement pack and you’ll be ready to go in a day or two—it couldn’t be simpler!