Fleet Evolution has successfully launched car salary sacrifice schemes for businesses often classed as too small for traditional car salary sacrifice arrangements.
Employee take-up rates have averaged almost 20% in the first few months of the scheme, suggesting that the nation’s 4.5 million small firms have an equally large appetite for car salary sacrifice as large firms.
Car salary sacrifice has long been established within larger employers with 15% of organisations with more than 1,000 staff thought to have adopted such schemes.
The average take-up rate reported by other suppliers among employees is around 5%.
Most providers cater for large firms as they have the necessary number of employees to ensure enough take-up of the scheme.
However, Fleet Evolution has created a ‘lite package’ for firms with 20 – 200 employees.
The scheme allows smaller businesses to introduce car salary sacrifice schemes to their workforce with no set up costs and very little admin on their part.
Since launching the product earlier this year, Fleet Evolution has signed more than 20 companies up.
Andrew Leech, director at Fleet Evolution, said: “We often received calls from smaller employers and questioned whether we could do more to help them.
"We have been amazed by how many cars these new companies are taking on which shows just what an untapped market this is and how much potential and desire there is among smaller companies and their employees to participate.
“We always handle all promotion and roll out for our customers and we were initially surprised at the turnout for launches, this has followed through with a significant take-up and it shows no sign of abating, with more quote activity as cars are delivered.”