The Electric Car Scheme has unveiled new research indicating that a sustainable commute and an electric car salary sacrifice scheme are increasingly important to UK workers. The research shows that nearly two-fifths (38%) of workers expect their employer to help them commute to work sustainably. Unsurprisingly, this rises to 48% for those at the start of their career (21-34).
Workers of all stripes are keen on a workplace electric car scheme helping them make that commute. A majority of those questioned (60%) say that being offered an electric car salary sacrifice scheme would make them more likely to stay in their current job, or take a new job if they were offered one elsewhere. This is, again, most prominent among younger workers, rising to 74% among 21–34-year-olds.
The Government-backed tax-advantaged scheme is being adopted by more and more UK workplaces, allowing employees to use their pre-tax income to pay for an electric car lease. However, according to the survey, only 22% of workers are currently offered this benefit by their employer.
Salary sacrifice puts brand new electric car leases into the reach of far more people, with cars available from as little as £233 a month. This represents a 30-60% discount on regular leases and even larger savings when compared with the financing costs of a new vehicle, which are close to £1,000 per month for a Tesla Model Y. Over a year an Electric Car Scheme lease for the same Tesla Model Y will be £5,724 cheaper than the financing costs of a purchase, and £3,648 cheaper than a traditional lease.
These cost benefits come before the savings in fuel and maintenance that electric cars offer over petrol and diesel alternatives.
Employers offering the scheme face no costs themselves, with administration and support for HR, Finance and employees handled by The Electric Car Scheme.
Thom Groot, co-founder and CEO of The Electric Car Scheme, commented: “There is an increasing emphasis on employers to step up and make their business more sustainable. This doesn’t just mean energy saving light bulbs in offices, or not printing emails, but a holistic attempt to really make things greener. Given transport is the UK’s number one source of emissions, the commute has to be a key part of that.
“The Electric Car Scheme is easy to offer, and there are no setup or running costs. If your business provides a carpark, it really should be giving employees the support to park a clean car there too. “We recently had confirmation that the Government is onboard with the tax incentives that make salary sacrifice so attractive, extending support for The Electric Car Scheme until at least 2028. That makes an electric car scheme an attractive long-term benefit to offer to your employees.”
