Cable&Wireless Worldwide, which began offering cars to more than 5,000 employees last month after it introduced Zenith Provecta’s salary sacrifice scheme, has described the initial response from employees as “staggering”.
While the scheme is still only weeks old, Cable&Wireless told Fleet News that 1,500 employees had registered their interest in the first month and 68 orders had been taken – a 4.5% conversion rate.
“I have been staggered with the success of the scheme,” said Paul Bissell, head of reward, at the company.
“I had been hoping for a reasonable response, but expected nothing like this.”
The company currently operates around 200 job specific vehicles and a further 200 perk cars for senior employees.
“What we are trying to do is create a market-leading benefits package,” explained Bissell.
“A number of years ago when the car tax changes were taking place people were quite pessimistic about company cars, but the reality is they’re very much alive.
“The ability to offer a company car to an employee in a way that effectively reduces the cost of a vehicle to them and is tax efficient is an excellent incentive.”
Zenith Provecta will hold roadshows to Cable&Wireless employees to illustrate the benefits of funding a company car through gross salary.
This is supported by a marketing and communications campaign and a dedicated website, which has been set up for staff to explore options, obtain quotes, compare savings and place orders.