How an EV salary sacrifice scheme help you reach Net Zero
In 2019, the transport sector was responsible for almost a third of the UK’s greenhouse gas emissions. And the majority of this pollution came from cars and taxis.
Tackling greenhouse gas emissions is one of the many ways we can work towards a cleaner future. Because electric cars are better for the environment than petrol and diesel vehicles (as they have zero tail-pip emissions), putting more EVs on the road will make a big difference in the fight against climate change, with a salary sacrifice scheme your company can:
- Reduce tailpipe emissions to 0 for everyone that gets a car on the scheme
- Save 770 trees worth of carbon emissions for each EV you get on the road
- Minimise employees carbon footprint - taking them on the journey to net zero with you
- Walk the walk, not just talk the talk on reducing your carbon emissions
Making it easier and cheaper for your employees to access electric cars will also start to encourage more people to make the switch to electric. And without costing your company anything, you’ll be helping to make the world greener, proving your company’s commitment to a more sustainable future.
Don't just take our word for it. Check out these customer testimonials, explaining how EV salary sacrifice is helping their companies towards their net zero goals.
Neil Clark, Planet Officer, TPX Impact:
“As a company, we’re actively trying to reduce our carbon footprint. We’re keen to make sure that we don’t just put policies in place, but that we're actually living these values.”
John Mayor, HR Shared Services Manager, JDE:
"As a company, we do have green ambitions. We give [our employees] charging points within our facilities. They see how we are joining in the journey for electrification. We're all going to go electric. Why not be early adopters?”
Melissa Proles, People Director, Berry Bros. & Rudd:
"As the People Director, I'm very keen to make sure that we include sustainability within our people practices. It’s becoming more important than ever to share our sustainability plans with people. New hires are far more concerned with sustainability than ever – and rightly so – and they want to hear what companies are doing to minimise their carbon footprint and acting responsibly."
Keith Greenfield, CEO, Wightlink:
“It's important for our customers to know that we're very environmentally conscious and we're doing everything we can to decarbonise. I really don’t think hybrids are going to make much of a contribution to that effort, I think it has to be electric.”
Three more reasons to set up EV salary sacrifice
1. Keep your employees happy
Employee benefits help show your team you care. People are more likely to love their job if it’s at a company that values them, with 75% of employees saying they’re more likely to stay in a job because of the benefits package. Plus, if they’re happy and content, your employees tend to work more effectively.
2. Boost your company profile
It’s not just your current employees who’ll love the option to lease an electric vehicle, but potential new starters too. So boosting your company profile with salary sacrifice is a great way to attract new talent.
Candidates consider employee benefits when applying for new roles, with 78% of people are more likely to go for a job if there are details of benefits in the ad. And, of the many, many options for employee benefits, “help to get a car” ranks in the top five for most job seekers.
3. Save your company and employees cash
Firstly, setting up an EV salary sacrifice scheme with Octopus costs you absolutely nothing. And for each employee who joins the scheme, you’ll pay less employer National Insurance.
Your employees will also save money on their taxes, as the payments for their new electric car will be taken from their pre-tax salary. This means your employees can save up to 40% on the full electric vehicle package (car, charger, insurance, breakdown, and more). And they’ll get a top-of-the-range car at an affordable price.
What's stopping you?
We know you'll have some burning questions about the practicalities of implementing salary sacrifice, so we've created a handy guide that covers some of the most important topics:
- What does it cost to set up? (hint, the number is less than £0.01!)
- How do the savings work for employees?
- How do savings work for your business?
- Are there protections for your business against unexpected events? (hint 2, yes - and the protections are strong)
- How do your team order a car, and how do you approve the orders? (hint 3, slick online dashboards are all the rage)
- How do we help you launch the scheme?
- What's the next steps? (enough hints! download the guide below to find out)
