TCH Leasing is seeing record demand for its salary sacrifice product, expecting 20% growth in new schemes this year.
Since launching its TCH Salsa product in 2009, 142 organisations have implemented the scheme.
TCH Leasing predicts that in 2016, an additional 30 TCH Salsa schemes will go live, representing a twenty-one percent increase in the number of organisations adopting the scheme. This figure represents an additional 15,000 employees that will be eligible to take part in the TCH Salsa scheme.
The range of organisations that have adopted the TCH Salsa scheme include councils, colleges, charities and housing associations in addition to businesses ranging in size from SME’s to larger corporates.
Six out of seven employees at South and City College, Birmingham (who introduced Salsa in 2012 and currently have 60 employees participating in the scheme) have already placed an order for a new vehicle, as their current contract comes to an end.
TCH Leasing’s managing director, Mark Hammond, said: “TCH Salsa has proved a great success for TCH Leasing in enabling us to provide organisations with a robust salary sacrifice solution that delivers both the employer and the employee significant benefits. The volume of contract renewals that are currently being processed by TCH Salsa highlights the attraction of our scheme to both employers and employees in what is a competitive marketplace.”
Head of sales, Ken Buckley, added: “TCH Salsa compliments an already successful range of fleet solutions that TCH leasing offers organisations, such as contract hire and daily rental. With a dedicated team behind TCH Salsa, and a continued investment in customer service and account management, we are confident that the remainder of 2016 will see significant growth in the volume of employers and their employees adopting the Salsa scheme.”