John Lewis Partnership has launched a cycle-to-work scheme for its 70,000 UK employees to help them be more environmentally friendly and to boost staff wellbeing.
The retail firm, which owns Waitrose food stores and John Lewis department stores, launched the salary sacrifice scheme last month and employees have until 4 September to enrol.
Andrew Clark, head of reward, said the scheme was effectively cost-neutral due the savings on employer national insurance contributions (NICs) made through salary sacrifice.
The scheme, provided by P&MM, offers staff the opportunity to select a bike and safety equipment from over 400 different independent cycle retailers, and pay it off over an 18 month period, saving up to 40% in tax and NICs.
The launch was announced in the internal magazine Gazette, combined with the intranet and a poster and leaflet campaign. “The scheme will not only save our partners money but help them get fit in the process,” said Clark.
The retailer is also looking into implementing a national tax-efficient green travel scheme including bus passes through salary sacrifice and is currently in consultation with providers.
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