Virgin Media launched its first bikes-for-work scheme, Ride2Work, in November 2011 after a staff survey showed it was the most popular choice of possible new benefits.
The telecoms firm gives staff a range of choices at the end of the scheme’s hire period. At the end of the 12-month contract, ownership of the bike reverts to provider Evans Cycles for a period of time, depending on its value and when it was purchased. Staff then have three options: keeping the bike for 48 or 60 months, depending on the original cost; owning it outright by making a one-off payment to Evans Cycles; or returning it at no extra cost.
The scheme is also being incorporated into Virgin Media’s focus on health and wellbeing and its corporate social responsibility programme. Paul Farrell, head of group benefits, said: “We are taking responsibility for growing our business in a way that is good for staff and the environment.”
