Each cycle to work scheme provider has its own network of bike shop retailers from which the employees of companies signed up to the scheme can redeem scheme vouchers. The networks vary in size and in which retailers they include, but there also tends to be some overlap.
Aimee Radcliffe
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Topics: salary sacrifice, bike shops, cycle to work, employee development
What are the cycle to work scheme savings for employers?
Most people familiar with the cycle to work scheme know that it can save employees at companies that are registered money on bikes and cycling equipment. Fewer, though, realise that there are savings to be made for companies themselves. The most direct cycle to work scheme savings for employers are made in National Insurance contributions, capital allowances and, in some cases, Annual Investment Allowances (AIAs). Employers save through reduced time lost to sick days.
Topics: cycle to work schemes, savings
Salary sacrifice schemes are a way of providing employee benefits by giving employees the option of handing over part of their gross salary in return for whatever the benefit may be. The advantage is that employee salaries are only taxed subsequent to making the sacrifice, therefore saving the employee money. Employers save as well, by not paying Secondary Class 1 National Insurance contributions on the sacrificed portions of staff salaries.
Topics: employee benefits, salary sacrifice
This may seem like an odd question – surely the benefits of employee development are plain to see? More highly skilled staff help companies to perform better and more productively, improving the bottom line as a result. But there’s more to employee development than just a company’s accounts.
Topics: productivity, employee development
It may go without saying, but employee benefits don’t just benefit employees. Indeed, there are a lot of advantages to employers offering employee benefits too. Fundamentally, as you might expect, these all boil down to a company’s bottom line.
Topics: employee benefits, employers, employees
Short-term vs long-term vs termination employee benefits
The vast majority of employers provide their employees with a benefits package in one form or other, with the likes of annual leave, pensions and public transport season ticket loans among the most popular perks offered. Although few employees will give much thought to it – because it’s not necessarily that pertinent – benefits can be split into one of three categories.
Topics: employee benefits
Short-term vs long-term vs termination employee benefits
The vast majority of employers provide their employees with a benefits package in one form or other, with the likes of annual leave, pensions and public transport season ticket loans among the most popular perks offered. Although few employees will give much thought to it – because it’s not necessarily that pertinent – benefits can be split into one of three categories.
Topics: employee benefits
This may seem like an odd question – surely the benefits of employee development are plain to see? More highly skilled staff help companies to perform better and more productively, improving the bottom line as a result. But there’s more to employee development than just a company’s accounts.
Topics: productivity, employee development