Cycle to Work Scheme for Employers

Benefits of the Cycle to Work Scheme for Employers

1. National Insurance Savings
Employers can save up to 15% on National Insurance contributions for every employee who participates in the scheme. This translates to an average saving of £150 on every £1,000 processed through the scheme, helping businesses reduce costs while supporting their employees' wellbeing.

2. Enhances Employee Wellbeing
Cycling is a proven way to improve physical and mental health, and employees who ride to work often report feeling more energized and productive.

3. Reduces Carbon Footprint
With the push for sustainability, cycling offers a low-emission alternative to car and public transport commutes, helping companies meet environmental goals.

4. Cost-effective Employee Benefit
Offering the scheme can help with recruitment and retention as it’s an attractive benefit that employees genuinely value. And, since it’s tax-efficient, it doesn’t cost the employer much to implement.

5. Eases Parking and Reduces Congestion
Employers benefit from reduced pressure on parking spaces and lower traffic congestion near their workplaces.

6. Boosts Corporate Social Responsibility
Employers supporting cycling can leverage this as part of their CSR initiatives, showcasing their commitment to the environment and employee wellness.

How to Set Up the Cycle to Work Scheme

Employers interested in offering the scheme can partner with a provider or manage the scheme internally by following these steps:

1. Choose a Provider
   Many companies offer end-to-end management of the scheme, including supplier partnerships, compliance, and employee support.

2. Communicate to Employees
   Announce the scheme, explain how it works, and encourage employees to take advantage of this benefit. Many employers find success by running a dedicated wellness campaign around it.

3. Administration and Support
   Providers typically handle the administrative side, but employers should also be prepared to assist employees with any queries.

FAQ

Q: Do I need to cycle to work every day?
A: No, while the scheme is designed for commuting, there is no requirement to cycle to work every day, and bikes can be used for other journeys as well.

Q: Can I buy an e-bike?
A: Yes, many providers include e-bikes as an option, which can make longer commutes or hilly routes more accessible for employees.

Q: Is there a maximum value limit on bikes?
A: While some providers cap the bike’s price, many schemes now allow more flexibility with higher-priced bikes, especially for e-bikes.

Interested?

If you’re an employer looking to support a healthier, happier, and greener workplace, consider signing up for the Cycle to Work scheme today! If you’re an employee, talk to your HR team to see if your company offers it and start exploring bike options for your commute.