3 Key Employer Benefits Of Salary Sacrifice
Discover the key benefits of salary sacrifice for your business.
Employee Retention
According to CIPD, 3 in 10 employees in the UK leave their role each year, highlighting the importance of improving employee retention.
Offering attractive benefits, such as salary sacrifice schemes, can significantly boost retention rates and job satisfaction. 74% of employees want their employer to offer an electric vehicle (EV) salary sacrifice scheme, while 59% are more likely to stay with a company that provides a comprehensive benefits package.
Meet ESG Goals
Salary sacrifice is a powerful tool for boosting your sustainability efforts. EVs have a 40-70% lower carbon footprint compared to traditional petrol or diesel cars. By encouraging employees to adopt EVs, employers can directly reduce their Scope 3 emissions.
In fact, 70% of employees believe it’s important for their employer to focus on and implement sustainability measures. Offering an EV salary sacrifice scheme not only provides a free benefit for your team but also promotes a healthier and happier workforce, helping your business move closer to its ESG goals.
Reduce Costs
Salary sacrifice schemes offer a win-win for both employers and employees, especially when it comes to EV leases. Employers save on National Insurance contributions, while employees enjoy discounted rates and preferential terms on EV leases.
73% of employees express a desire for their employers to offer cash-saving benefits, such as salary sacrifice schemes. This can be especially beneficial considering the high costs associated with recruitment - typically ranging from £1,500 to £3,000 to hire a new team member.
Rather than spending significant time and money on recruitment, why not choose a solution that saves you money and boosts employee retention at the same time?
To get started with salary sacrifice, request a free callback from our team here.