Using the Cycle to Work Scheme for a PR Campaign
Have you heard about the Cycle to Work scheme, but not quite sure what it actually entails? Well in simple terms, the scheme is beneficial for both businesses and the employees that utilize it.
In fact, it can be particularly advantageous for your business from a PR point of view. By offering bikes to your employees – and all the benefits that come with cycling to work – this can reflect well on your company.
How does the scheme work?
From an employee’s point of view, Cycle to Work is a scheme aimed at saving them money on a new bike intended for work. This is done by spreading the bike’s cost over monthly tax-free installments, and these are organized through your business.
As for your role in the process, it is up to you to select from the various scheme providers available. For example, Cycle Solutions is a major retailer that provides the opportunity for employees to receive a bike through their cycle to work scheme. With that said, the scheme’s process generally follows the same script regardless of the provider. This is:
A scheme provider is selected and your business registers with them.
You allow each employee to choose the bike they want from the provider.
You cover the cost of the bike.
Each employee then pays this pack via agreed monthly installments taken from your payroll.
As for how long money is taken from their salary, the period lasts for a minimum of 12 months. This can be longer, however, and you can recommend a suitable spending limit.
How is this beneficial for your business?
There are multiple ways in which you can profit from the Cycle to Work scheme. First of all, it is the money you can save. Not only do your employees cover the cost of the bike, but you also get to reduce your national insurance contribution. In fact, the tax-free nature of the scheme means you save approximately 13% on the bike’s overall cost.
From a PR point of view, however, a campaign can be advantageous in attracting potential employees. If you show that your business supports giving employees a bike for work, this is going to reflect well in terms of the overall benefits package you offer for staff members. The result: when you’re hiring for new positions, potential employees are going to be more enticed to work for your business.
You can also delve deeper into the benefits provided by cycling in general. You can show that you care about the well-being of your employees for instance, and that you provide a healthy workplace.
By having employees avoid the use of cars and public transport, you can also take on a green initiative with your business. There are several ways cycling helps to save the environment, such as reducing carbon emissions and reducing landfill waste, and you can use these points to promote your company as an eco-friendly one. It could give you a competitive edge over other businesses in your industry.