When it Comes to Salary Sacrifice, Size Doesn’t Matter

Car salary sacrifice has long been part of the benefits portfolio of larger organisations from pharmaceuticals to NHS Trusts, the benefits are well documented and established to both employer and employee but usually only larger employers consider such a scheme. New suppliers however are bucking this trend and their customers are reporting even higher adoption rates than their larger counterparts, with the employer exceeding their goals and adding a real differentiator to their business.

Fleet Evolution is one such supplier, launched by people with a background in IT and flexible benefits who specialize in salary sacrifice cars. This gives several benefits, instead of a traditional contract hire business that have to adapt their business model from a price driven commodity sale Fleet Evolution can use IT from the ground up coupled with vast experience of quoting systems, flexible benefit implementation and consultative sales.

The result is a fully managed salary sacrifice car scheme that can be deployed in days, involves little administration from the customer and yields fantastic benefits such as;

Employees can save up to 40% compared to retail cost of cars

Employers improve cash flow and save employers NI

Employers attract and retain a higher level of talent

Meets an employer’s ‘duty of care’

However the revealing observation is that smaller companies typically have higher take up rates than their larger counterparts, perhaps due to promotion, perhaps due to smaller car parks and people noticing the newer cars prompting discussion but adoption rates are up and so are the benefits to the employer.

In most cases salary sacrifice car schemes can be set up on a cost neutral or cost saving basis for the employer with no set up costs, Fleet Evolution have customers with as little as 20 employees and as many as 1,300 all benefiting from a fully managed service for the employer and employee and with adoption rates approaching 12% year one for 250 employee companies the benefits to all are clear to see.