What companies using EV salary sacrifice are saying about it
Back in April 2021, we launched our very own 100% Electric Salary Sacrifice Scheme - Electric Dreams! Taking advantage of the low benefit-in-kind (BIK) rates for EVs which are set to 2% until 2025, the scheme enables businesses to offer their employees a low admin, cost effective way to join the electric revolution, whilst also helping companies boost their own environmental credentials! It's worth noting the BiK rate is set until April 2025. From then, it'll increase by 1% each year until 2028.
Some amazing organisations have already signed up to Electric Dreams, including Purplebricks, Huel, Midcounties Cooperative and The Marketing Store! We wanted to share with you what these businesses are saying about the scheme, including why they chose to get involved with us and how it’s already benefiting their employees! If you would like to find out more about Electric Dreams, book into one of our free online workshops, where we’ll run you through how it works!
Helena Marson, Chief People Officer at Purplebricks discussed how Electric Dreams helps make the switch to electric more affordable, noting:
“We’re committed to improving environmental sustainability wherever we can and offering our employees the opportunity to drive an electric car through salary sacrifice is a great way to do this. Octopus EV’s salary sacrifice scheme makes driving electric easy and affordable, helping our staff lead more sustainable lifestyles.”
James McMaster, CEO at Huel, highlighted how the sustainability benefits of the making the exciting switch to electric really appealed to his company:
“We’re not the sort of company that would go with a traditional car scheme. Being able to offer something that promotes cleaner transport has been a real benefit to helping our team live our mission of a more sustainable world – they are amazed at what a brilliant deal this is.”
Dally Purewal, who heads up Cooperative Flexible Benefits, (part of The Midcounties Cooperative), observed both the financial benefits of Electric Dreams as well as how providing an eco-conscious employee benefit provides both a sense of wellbeing and enhances an employer’s social responsibility commitments:
“I am really excited about the Electric Vehicle Salary Sacrifice scheme. Electric Vehicles are the future, I am already seeing a real appetite from clients who are eager to offer this scheme to their employees. Not only are there huge savings of up to 45%, which makes it affordable for most households, but there is a great range of vehicles with high performance levels to choose from. Further savings are made from ever rising fuel costs, whilst cars are charged at a fraction of the cost conveniently from the home and at times that suit.
As we are becoming a nation which is more and more eco-conscious this scheme satisfies the conscience and gives the employee a sense of wellbeing that they are making a low carbon choice that positively impacts on the environment and future generations to come. From an employer’s perspective, it truly endorses their Social Responsibility agenda and adds credibility to a rewards package that in return gives loyal, engaged and motivated employees, and reduces employee turnover.”
Mark Watson, MD, The Marketing Store, Europe discussed how important it was for them to provide a sustainable solution to their staff
“At The Marketing Store, we believe in actions not words, and are just as committed to innovating sustainable solutions on behalf of our staff, as we are our clients.”
“That’s why we’re delighted to be working with Octopus Electric Vehicles, a company leading the change in green customer experiences, to offer our UK permanent staff this new, cost-effective and sustainable alternative to owning a car.”
As mentioned previously, if you’d like to find out more about how your business can make the amazing switch to electric, you can join one of our free online workshops, or get an information pack. Also, you can drop us an email to firstname.lastname@example.org, and we’ll be happy to help provide you with the information you need to join the electric revolution!