Fleet News

Salary sacrifice offered by ‘sophisticated’ employers

New research conducted by Zenith has revealed a company is more likely to adopt a car salary sacrifice scheme where there is a large employee base, a high proportion of eligible employees and a pre-existing benefits platform and a mobile workforce.

Other factors include having wide adoption among industry peers and a large proportion of cash takers.

The research also showed that those who took a sophisticated and strategic approach to their employee reward portfolio were the most likely to adopt a car scheme, as they had taken the time to research and benchmark its attractiveness against other potential employee benefits.

Unsurprisingly, the results also backed up the fact that the ability to market a scheme once launched had a significant impact on the take-up of cars.

Andrew Kirby, commercial director of employee benefit schemes at Zenith, said: “Employers would be advised to adopt a strategic approach, where possible, to the selection of their employee benefits and add those which have the most positive impact on engagement, recruitment, retention and motivation.

“In many cases, but not all, this would include a salary sacrifice car scheme. 

“The research has also, once again, reinforced the importance of employers working closely with their provider to ensure that the benefits are marketed as fully as possible.”

  • Take part in the next Fleet News salary sacrifice seminar on May 13 at Cranage Hall, Cheshire. Email nicola.baxter@bauermedia.co.uk for more information.

Click here for fleet funding best practice and procurement insight

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee