Stephenson Harwood offers its employees a car scheme that gives them the option to drive a brand new electric car of their choice through a salary sacrifice agreement, which, in turn, supports the law firm’s commitment to reducing it’s impact on the environment.
The scheme, introduced in 2021, is open to the firm’s 550 London employees once they have passed probation.
Employees are charged a fixed monthly cost for the term of their company car contract, which varies depending on the car, specification and other factors, such as expected annual mileage.
The scheme includes insurance, routine servicing and maintenance, as well as breakdown cover, explains Jeff Marlow, chief people and talent officer at Stephenson Harwood.
“The benefit is available via a salary sacrifice arrangement spread over up to four years, with a minimum term length of two years and a maximum of four years,” he says. “At the end of any given contract term arrangement, the employee can apply for another car. Employees give up an amount from their gross salary in exchange for the use of a car for a period of time. They save on income tax and national insurance contributions and the employer makes savings on the amount of salary that has been sacrificed.”
A range of car models are popular with staff, including a Kia Niro SUV and an Audi Q8. Because of the way its 115 London-based partners are remunerated, the benefit has not been extended to them yet.
Being able to offer employees this accessible and affordable benefit is important and part of the firm’s wider commitment to providing staff with a wide range of social and environmental benefits.
“The firm is committed to reducing its impact on the environment, and to finding tangible solutions that make a difference,” says Marlow. “While other initiatives, such as heating system optimisation, play an important role in reducing the business’ environmental impact, this electric car scheme offering ensures employees can be actively involved as well.”