How electric car salary sacrifice can drive company culture
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Learn about our schemeToday’s businesses and organisations benefit greatly from diversified workforces, bringing different skills, experiences and ideas. Understanding what drives today’s candidates and employees is essential to help build business success. Could an electric car salary sacrifice scheme drive company culture and support a multigenerational workforce?
A universally popular benefit.
Research has shown that an electric car salary sacrifice scheme is a universally popular wellbeing benefit. In a 2023 survey by a leading fleet car publication, 40% of the 5,000 employees surveyed said that salary sacrifice was the most important benefit, ahead of pensions and flexible working.
The same survey found that 55% of employees would not have opted for an electric car had it not been provided through an electric car work scheme, while 78% said the cost savings were the main factor in their decision. Such was the scheme’s popularity, that 62% said they wouldn’t move to another company that did not offer salary sacrifice cars as an employee benefit.
Teamwork and inclusivity.
As retirement age has increased for both men and women – and is set to increase further from May 2026 – multigenerational teams are becoming more widespread. Meeting the wellbeing needs of a diversified workforce means introducing benefits that are universally appealing.
In the past, company cars may only have been offered to more senior members of staff. By offering wellbeing benefits that are accessible and relevant to employees of all ages, organisations can create an inclusive work culture where everyone feels valued and rewarded.
Shared values and ESG.
In a recent survey by a leading UK research organisation, 6,000 UK office workers, students, apprentices and recent graduates were asked about their attitudes to work. A significant 82% placed some importance on being able to link values and purpose with the organisation they work with. Meanwhile, 46% said they’d want their employer to demonstrate a commitment to ESG. While one in five have turned down a job when the company’s environmental stance did not meet their own.
Electric vehicles are a key component of sustainable transportation, as they produce zero exhaust emissions and have a significantly lower carbon footprint compared to traditional petrol or diesel vehicles. A defined ESG framework, supported by an Electric Car Salary Sacrifice Scheme, provides a clear direction for companies to do business in a way that is consistent and aligned with their values and employee expectations.
How does an electric car salary sacrifice scheme help?
- An Electric Car Salary Sacrifice Scheme is a mutually beneficial arrangement designed to encourage the adoption of electric vehicles by employees.
- The scheme is provided to eligible employees as a wellbeing benefit.
- Employees exchange a portion of their gross salary before tax and NI in return for an electric car, which is leased by their employer.
- Employers typically partner with an electric car salary sacrifice specialist to set up and manage the scheme.
- The lease agreement usually covers the cost of the vehicle and the maintenance. Insurance and home chargers are often offered too.
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