Equity Insurance Group has achieved 85% take-up for its salary sacrifice car parking scheme in its first month.
The scheme was launched after the firm’s remuneration specialist, Ricky D’Ash, noticed staff were paying a significant amount for car parking each month. In locations with no National Car Parks (NCP), such as near the company’s head office in Brentwood, D’Ash worked with Fair Care to explore the possibility of implementing a scheme for non-NCP parking sites.
“At one of our sites, the car parking is £95 a month, so if staff were to apply for basic-rate taxpayer salary sacrifice, they would save almost £30 a month,” said D’Ash. “We worked through how we could extend the salary sacrifice car parking scheme to cover all of our sites.
“We have managed to extend the scheme to cover the local council on car parks, where three-month minimum season tickets are used.”
The scheme was introduced on 26 April as an addition to this year’s flexible benefits plan for Equity’s 1,100 employees.
D’Ash added: “From the communications side, we introduced the scheme at employee roadshows earlier this year, rolled it up into the flexible benefits brochure, [made] a separate announcement, and also built it into the induction programme for new employees.”
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