All the reasons an EV salary sacrifice scheme is an easy win for your business

EV salary sacrifice schemes - you’ve heard about them, but what’s all the hype about? Well, honestly, they just make sense.

A business solution that offers significant potential advantages for no spend? We’re here for it

And here’s why.

Yep, you heard that right - it’s completely free for businesses to set up and run our EV salary sacrifice scheme. You don’t need to make any contribution to the cost of the cars, or pay any admin fees whatsoever.

The only – and we mean only – payment associated with the scheme is the monthly contribution your employees make from their pre-tax salaries. There’s no minimum number of EVs you need to commit to, and whilst you may need to temporarily cover monthly costs for employees on long-term leave, we credit these payments back to you.

The number one, super important advantage of this? All the business benefits you get from our EV salary sacrifice scheme, you get without spending a penny. No complicated ROI analysis or tough budgeting decisions.

But what about resource cost?

Of course, for a busy workforce, time is just about as valuable an investment as money. “What will we get for the time spent to manage this benefit?” and “Will managing this benefit provide our business more value than doing <other activity>?” are both questions busy HR teams ask themselves frequently.

You’ll be pleased to know that you’ll need to spend just two minutes per month per employee to manage the Octopus EV salary scheme. That’s all.

We’ll take the payment from your business and give you a monthly report breaking down the total cost into per-employee figures – all accessible via our easy-to-use HR portal. All your payroll team needs to do is adjust employees’ net salary payments to compensate.

Yep, that’s right, you need little to no experience at all when managing the scheme. We support you and your team at every stage, with guides, advice, and most importantly real people to speak to if you have any questions.

The benefits of EV salary sacrifice for employees are fairly obvious: they get a slick new car, make tax savings and save money. Everyone’s a winner.

But what about on the business side of things? Give employees access to great cars → ??? → profit?

Kind of. With a few more factors.

One of the most effective things any business can do to drive growth and increase profits is to build and maintain a skilled, talented and motivated workforce, and reduce employee turnover. In fact, companies with the highest levels of employee engagement are 21% more profitable and 17% more productive than their less-engaged peers, according to a Gallup study.

And another major benefit of an EV salary sacrifice scheme for your business? It helps you go green.

We’re all trying to do our bit for the planet – but there are quite a few business advantages to going green , including signing up to an EV salary sacrifice scheme.

Committing to an EV-only salary sacrifice scheme isn’t just a good thing to do. It’s a significant statement about the type of company you are and your commitment to sustainability – increasingly, consumers are taking notice of this.

And, if you need your employees to use their cars for work purposes, you’ll save a tidy bit of cash on fuel expenses if your employees are using electric cars.

EV salary sacrifice schemes can be so easy to set up, have very limited risks, and ultimately is the cheapest way to get you and your employees in an EV.

Got more questions? Maybe about credit checks? Or eligibility? We’ve got you covered in; the five most asked questions businesses have about EV salary sacrifice.