The University of Reading launched a salary sacrifice car leasing scheme in June to help improve its employee benefits package.
The university decided on a leasing arrangement, underpinned by contract hire, because of its low cost and the ability to offer employees a fully maintained car.
Claire Eckett, HR manager, rewards and benefits, at the University of Reading, says: “We are always looking to do more with less and because this type of arrangement has minimal cost implications, we will be looking to save money. It was something that was attractive to us and employees.”
The car leasing scheme, Mycar, provided by Leasedrive, is aligned with the university’s sustainable travel plan and carbon reduction targets. It has implemented a 130g/km CO2 emissions cap on the cars available through the scheme.
Eckett acknowledges that it may take time for take-up to rise, with just four orders received since the launch.
“I think it is going to take a while to embed,” she says. “Company cars are not something that has traditionally been offered as a benefit and it is unusual in the university sector.
“It is something new and a bit innovative for us. It makes the university look an attractive place to work and supports our sustainable travel plan and carbon reduction targets.”
The new schemes were communicated to staff through the university’s online portal, via email and at a benefits roadshow on-site.
The organisation hopes that more than 5% of its employee population will take up the scheme over time.