Analysis
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AnalysisHow to design a company car scheme to suit today's workforces
Credit: PanuShot-shutterstockNeed to know:Hybrid and remote working have changed the need, and expectation, to drive to work five days a week for many employees.Yet access to a company car, especially an electric vehicle through salary sacrifice, remains popular.Company car schemes are still an important recruitment and retention tool, but need ...
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AnalysisTop tips for managing the cost of company car schemes
Credit: muk woothimanop/ShutterstockNeed to know:Green electric vehicle (EV) salary sacrifice arrangements are growing in popularity.As well as tax savings, EVs can be cheaper to run and maintain, with used cars also a cost-effective option. Employees need to understand how benefit-in-kind (BIK) rates differ for both EV and internal combustion engine ...
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AnalysisHow to structure a sustainable reward strategy
J.M. Image Factory/shutterstock_1864249615Need to know:Employee benefits can play an important role in helping organisations meet their sustainability goals, as well as helping to attract and retain staff.Travel-related benefits, pensions and carbon-offsetting schemes can all help employees make a difference to their carbon footprint, and that of their employer.It is vital ...
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AnalysisWhat does the modern company car scheme look like?
Modern company car schemes can offer a tax-efficient means to access new vehicles.A company car can be a useful attraction and retention tool for employers.Car salary sacrifice arrangements are popular with employees due to the low cost and access to low and zero-emission vehicles.The Covid-19 pandemic saw many employees work ...
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AnalysisBuyer’s guide to car salary sacrifice schemes
Car salary sacrifice arrangements remain a popular employee benefit; in its January 2023 Leasing Outlook, the British Vehicle Rental and Leasing Association (BVRLA) found a 20.5% year-on-year increase in company cars funded through salary sacrifice to quarter three in 2022.What are car salary sacrifice schemes?A car salary sacrifice scheme allows ...
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AnalysisAre car schemes still a valued employee benefit?
Need to know:Company car take-up has fallen in recent years as overall tax levels have risen.Electric cars benefit from lower rates and are now the focus for many employers.These are increasingly being offered via salary sacrifice rather than on a company-paid basis.For many years, the traditional company car scheme was ...
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AnalysisHow to make the case for electric company car schemes
Need to know: Businesses are under pressure to cut carbon emissions, and employee vehicles are an obvious target. Salary sacrifice schemes mean this can save companies money, and make electric vehicles affordable for staff. Subscription models mean firms are no longer tied into long leases should ...
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AnalysisHow do staff travel schemes vary around the world?
The low benefit-in-kind of just 1%, which will be capped at no more than 2% until 2025, means zero-emissions cars on a salary sacrifice scheme can be a truly affordable way of driving.Most employers have restricted travel into the office and discouraged people from travelling on public transport, but there ...
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AnalysisTop tips on implementing electric company car schemes
Need to know: Electric vehicles are now a realistic option for company fleets, either as an employee benefit or through salary sacrifice arrangements. Favourable benefit-in-kind rates are making this more attractive compared to petrol or diesel options. But some concerns remain around charging infrastructure and battery ...
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AnalysisHow can employers link carbon-neutral goals with their reward strategy?
Need to know:Organisations are under pressure to reduce their carbon footprints and employee benefits can help with this.Ensuring pension funds are invested in environmentally-friendly businesses is a good place to start, while executives can be rewarded on similar metrics.The use of green reward schemes and encouraging greener forms of travel ...
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AnalysisWhat impact has the pandemic had on company car schemes?
Need to know:The experience of the pandemic, and a year of home and remote working, will probably reduce business mileage in the future.However, while this is unlikely to mean company car schemes will disappear altogether, they may become ever-more focused on the most tax-efficient electric and ultra-low emission vehicles.Cash allowances ...
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AnalysisHow has the Covid-19 pandemic affected staff travel schemes?
Need to know:Employers have adapted their employee travel schemes to meet the challenges posed by the Covid-19 pandemic.With many workforces adopting a remote-working pattern, employers must rethink how to best offer travel initiatives that are suited to their employees.Cycling to work is predicted to rise in popularity as an alternative ...
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AnalysisWhat are the latest trends in company car schemes?
Need to know:Tax changes for low emission vehicles has increased the demand on company car schemes.Employers may benefit from the perks of investing in an electric car scheme.Due to the impact of the Covid-19 pandemic, organisations may be rethinking their company cars strategy.Trends in company car schemes have been shifting ...
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AnalysisTop tips for implementing a green travel strategy
Need to know:There are numerous options for employers looking to promote green travel, some of which may already be in place, such as cycle-to-work schemes.Organisations should use data to gauge the extent of the issue, as well as map and measure success.Gamification, competition, and effective communications can all ensure employees ...
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AnalysisWhere does the company car sit in a modern staff travel scheme?
Need to know:Employers are increasingly looking at giving more flexibility in their company car schemes, whether that means a choice of vehicle or a cash alternative.Blended mobility options involve looking at a range of travel possibilities in order to create the most efficient choice that meets both operational and employee ...
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AnalysisWhat are the latest trends in staff travel?
Need to know:The changes to salary sacrifice arrangements that impact car schemes offered on this basis may have changed some employees’ attitudes to cars, but promoting green cars is an option for employers.Employers can support the implementation of electric and hybrid cars by investing in charging points.Changing working practices, such ...
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AnalysisWhat will company car schemes of the future look like?
Need to knowThe government is investing in both electric vehicle (EV) and autonomous vehicle (AV) technologies and infrastructure.However, electric vehicles will not take off until concerns about the distance these are able to travel between charges is fully overcome and employees also accept a change of driving mindset.There are a ...
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Analysis
Infographic: The car benefits currently offered by employers
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Analysis
14: car schemes
Almost two-thirds (65%) of respondents do not receive a car or car allowance as part of their benefits package, either as a business or perk driver, according to the Employee Benefits Salary survey 2017, which surveyed a total of 249 respondents in November-December 2016.More than a third (39%) of respondents ...
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AnalysisWhat would a future without salary sacrifice car schemes look like?
Need to knowThe government has said it is considering limiting the range of benefits available through a salary sacrifice arrangement.While providers are confident car schemes will not end up in the firing line, it is possible alternative models may need to be looked at.These could include affinity, employee car ownership ...