Cycle to work schemes are a great way to support employees' physical health and save money.
According to research published in First Voice, transport habits will never return to pre-Covid normality. Public transport usage is down because people are commuting less and, when people do need to travel, they are more likely to choose to walk or cycle.
If your business doesn’t yet offer the Cycle to Work scheme, now could be an ideal opportunity to do so.
Cycle to work schemes are salary schemes that allow workers to exchange part of their salary for the non-cash benefits of a bike or bike accessories.
From saving money to corporate social responsibilities (CSR) and encouraging employees to get active, read on to find out the benefits to your business and your employees.
1. Save money
Always a winning benefit, cycle to work schemes can help to cut costs to both businesses and their workforce. There are several ways both parties can make savings.
- Cycle to work schemes are salary sacrifice, so employees can save between 25% and 39% on the cost of a new bike and accessories
- By spreading the cost of a new bike over a year you don’t need to fork out for a single large payment, and the amount you pay each month towards your bike and gear may barely be noticed.
- Cycling to work also means employees can leave their cars at home, saving them money on fuel. For those who used to rely on public transport, they save the fare and the potential hassle of late or cancelled trains or buses.
- Thanks to the health benefits that come with cycling and a generally fitter workforce, businesses will get more from their happy, healthy and present employees, which can help to save money on sick days and increased productivity
- Employers can save up to 13.8% on National Insurance payments because of the salary sacrifice arrangement – for every £1,000 a business spends on bikes, it saves £138 in National Insurance
- If enough people join the scheme, this can cut down on the number of parking spaces you may need to have available at the office. This can help reduce costs of creating and maintaining more spaces as your team grows or you could even swap some of your parking spaces for greenery.
2. Keep employees active, fit, and healthy
Of course, the most obvious benefit of cycling regularly is that it’s a great way to keep fit and healthy. Exercise can help reduce the risk of major illnesses such as heart disease, stroke, and type 2 diabetes. It can also help boost self-esteem, mood, sleep quality, and energy as well as reducing risk of stress and depression.
- Employees can look after their physical fitness and maybe even lose weight
- Cycling improves the condition of you heart, lungs and circulation and can help reduce the risk of heart disease and cancer
- Feeling healthy and physically fit can reduce the risk of illnesses such as colds, headaches, and so on.
- Healthy staff are less likely to take sick days
- Fitter and healthier staff have improved rates of productivity.
3. Look after mental wellbeing
In addition to being good for fitness and physical health, cycling can be great for mental wellbeing, too.
- Cycling can help clear your mind and relieve stress and anxiety, so commuting by bike can be a great way to begin and end your working day
- It can also reduce the risk of mental illnesses such as stress, anxiety, and depression
- All of this can help you to perform better at work, and feel happier and more fulfilled in your private life.
- Because cycling can help employees’ state of mind and focus, businesses benefit from a happy and productive team
- As with physical health, looking after employee’s mental wellbeing can reduce the number of sick or mental health days they take off
- A happy and motivated workforce is likely to be more creative and contribute positively to the business and company culture.
4. Care for the environment
Cycling benefits the environment too. Cycling to work means fewer cars on the road and less emissions. So, by encouraging more people into the saddle and onto their bikes, employees and businesses are contributing to positive environmental change.
- Choosing to ride rather than drive or using public transport helps employees cut down on their carbon emissions and fuel consumption
- They’ll feel positive about the fact they’re doing their bit to help save the planet, with minimum effort.
- Businesses can promote the ways they’re encouraging more environmentally friendly practices – including their cycle to work scheme
- As a real contribution to your Corporate Social Responsibilities, cycle to work schemes are especially useful for those companies pursuing B-Corp certification.
5. Reduce commuting times
For many commuters, one of the most frustrating parts of driving to and from work, especially after a long day at the office, is wasting time sitting in traffic. Whether it’s heavy traffic, roadworks, or accidents, there’s rarely a journey that isn’t delayed for one reason or another. So, cycling to work instead of driving can reduce the frustration of time it can take to get to work or home.
- Travelling by bike, allows employees to use shortcuts that cars can’t take and to weave through traffic much easier, cutting down on their commute time
- This can reduce the risk of being late, especially during peak travel times or when there has been an unexpected problem or delay.
- Employees that cycle to work are less like to be late as they are less likely to get stuck in queues of traffic
- More people on bikes can also help to cut congestion and traffic in the local area, something that the wider local community will also appreciate.
Get in touch
Cycle to work schemes are just one of a range of employee benefits that can support the physical and mental wellbeing of your workforce. To find out more about all the options available, please get in touch. Email firstname.lastname@example.org or call us on 0800 055 6585.
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