The cycle to work initiative is a tax- efficient, salary sacrificed employee benefit that provides a way of encouraging more adults to take up cycling. It allows employers to loan bikes and safety equipment to employees as a tax-free benefit. Around 180,000 people a year participate in cycle to work schemes.
Cycle to work schemes offer employers and employees a whole range of benefits;
Benefits to employees;
Regular exercise resulting in a fitter, healthier more productive workforce.
Improved attendance- cycling not only improves physical health, but has a positive effect on emotional health, wellbeing and self-confidence resulting in better tolerance to stress.
Environmental benefits- helps minimise your carbon footprint. Great news for your company’s social responsibility.
Reduces congestion and parking.
Benefits to your company;
A cycle to wok scheme will reduce your company’s national insurance contributions.
Enhancing your employee benefit package
Reduces organisational carbon footprint
Eases parking and congestion issues.
Appeal to potential recruits
The scheme is economically and socially beneficial and best of all a cost effective strategy to ensure your business stands out.
If you want to learn more about this fantastic scheme, why not give us a call here at Excellect.
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