Premier Limited

Cycle to Work - Ten great reasons to encourage your employees to do it!

Posted on Thursday, 14 March 2013 03:42PM by
We came across a great article this week titled Top 10 reasons to implement Cycle To Work , it was posted by admin in Green & Ethical, Salary Sacrifice. We wanted to share this with you........ 

Once again I am faced with the hideous thought of catching the stuffy and crowded train home, followed by the wait for the bus and then my tedious walk home from the bus station. With the large majority of London traffic moving an average speed of 10mph, it seems ironic that walking home would get me there in the same amount of time as the transport methods available to me. Cycling to work changed all of that.

Since the programme was introduced by the Government, the Cycle to Work tax-free benefit has seen more than 40,000 employees join, and revolutionised the way in which commuters view their journey to work. With the recent Olympic Games radiating its sporting energy and stirring up new interest in sporting pursuits there has never been a better time to encourage a healthier and happier workforce.
cycle to work

Not only does the scheme offer employees a cheap and healthy way to travel to work, but employers can also reap the benefits. We’ve put together our top 10 list of reasons why CycleToWorkPlus™ may be the solution you have been searching for…

1. A Cycle to Work module is going to save your business money. You don’t pay Employer’s National Insurance Contributions (typically 13.8%) on any sacrificed salary.

2. A fit, healthy and happy workforce. People who cycle experience a 39% lower rate of all- cause mortality compared to those who do not.

3. Less stressed staff. Cycling to work has a positive effect on mental and emotional well-being. Improving this leads to increased self-confidence, less stress and a better attendance record for staff.

4. The average person cycling to work will save 6% of their annual carbon footprint. This is great news for any company’s corporate social responsibility.

5. Reduces the amount of required parking on site, freeing up land that could be used for other purposes.

6. Another benefit to attract new recruits, contributing to the wider perception of your organisation as an employer of choice.

7. Helps to retain staff. With a minimum 12 month contract, it can assist in staff postponing any job changes.

8. Local authorities with budgets to promote cycling may well provide bike sheds FREE of charge or at a reduced cost to the employer.

9. Especially for those based in cities, cycling to work offers a great alternative to travelling on the often hot and overly crowded public transport. Cycling will often be quicker than either the bus or the train for employees to get to work, with cyclists traveling at an average speed of 12-15mph and drivers at 7mph.

10. Some providers like Asperity offer a great range of additional benefits to all those who apply for a bike through the scheme, for example a FREE 6 week bike service and voucher booklet full of great offers. With discounts available on the Halfords Apollo range, your employees will be able to kit out their whole family.

So you may be wondering what financial benefit your company can expect to receive, having implemented the programme. Any employer can use this simple formula to see the saving that they can make from providing CycleToWorkPlus™ to their employees.

Average Uptake (3% of workforce) x Average bike Value (£350) x NIC (13.8%) = saving!!! 

With a workforce of 1000 employees an average uptake would be 30 employees. The average amount applied for is £350 which would give an order total of £10,500.

To calculate the saving, multiply by 13.8% (Employer National Insurance Contribution) and the result delivers a saving of £1386.

CycleToWorkPlus™, Asperity’s exclusive cycle to work product, offers you the simplest and most generous solution for facilitating the programme. With the module integrated into your Reward Gateway portal, double discounts on key cycle-related retailers and a communications package tailored to your workforce we can help you achieve a healthier, greener and more productive workforce.

So far, Asperity’s CycleToWorkPlus™ has put 8,810 employees on their bikes and saved our clients a total of over half a million pounds. What are you waiting for?

Tell us what you think, many thanks from the team at Premier Limited Storage