Cycle to work schemes can have a number of benefits for both employers and their employees, which is why these are becoming increasingly popular around the world. Despite this, there are still lots of businesses out there that don’t offer this type of scheme to their employees.
However, more employers need to make cycle to work schemes a priority for their workforce if they hope to reap the many rewards. In a nutshell, these salary schemes allow workers to exchange part of their salary for the non-cash benefits of a bike or bike accessories. Which, as we’ve already mentioned, has a number of benefits for them and their employer.
So, whether you’re a business owner or an employee, the time has come to embrace cycle to work schemes. But in case you’re not sold as to why we’ve pulled together a list of five benefits of these schemes for both employers and their workforce. These include:
1. Keeping fit and healthy
One of the most obvious benefits of cycling regularly is that it is great for keeping fit and healthy. However, you might be wondering how this can have a positive impact on your business or whether the change is really worth it as an employee. Well, we’re here to show you how:
The benefits for employees:
- Employees can look after their physical fitness and possibly even lose weight along the way
- Cycling improves your heart, lungs and circulation and can reduce the risk of heart disease and cancer
- Feeling more in shape and healthy can reduce the risk of common illnesses such as colds, headaches, etc.
The benefits for employers:
- For employers, healthy staff are less likely to take sick days, which is obviously good news for business
- Fitter and healthier staff have improved rates of productivity
2. Looking after your mental wellbeing
As well as looking after your physical health, cycling can be great for keeping on top of your mental wellbeing, something which has become very important to us in recent years. And again this can have some very important benefits for both workers and their employers, these include:
The benefits for employees:
- Cycling too and from work can help you to clear your mind and relieve stress and anxiety
- 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, as well as feel happier and more fulfilled in your private life
The benefits for employers:
- Employers want their staff to be as present and productive as possible, and in order to do this they need to be happy and focussed - something which cycling can help them to achieve
- And as with physical health, looking after employee’s mental wellbeing can reduce the number of sick/mental health days they take off
- Finally, a happy workforce is more likely to be creative and contribute more positively to the business and company culture as a whole
3. It’s better for the environment
We are learning more and more about our impact on the earth, and it’s fair to say lots of individuals and organisations have had their eyes opened over the last decade. As we fight to save our planet, cycling to work can have a number of important contributions to this, as well as businesses. Some of the key benefits include:
The benefits for employees:
- Employees can cut down on their carbon emissions and fuel consumption as they don’t use their cars as often
- They’ll feel like they’re doing their bit to help save the planet
The benefits for employers:
- Businesses can shout about the ways they’re encouraging more environmentally friendly practices - including cycling to work schemes
- This allows them to promote their corporate social responsibility and help to boost their reputation
4. Saving money
As well as being more environmentally friendly, cycle to work schemes can also help to cut costs to both businesses and their workforce - and who doesn’t love saving money! This can be done in several ways, and some of the key benefits for both parties (and their bank accounts) include:
The benefits for employees:
- Cycling to work means that employees can leave their cars at home, saving them money on fuel
- Because these schemes are salary sacrifice, employees can save anywhere between 25-39% on the cost of a new bike and accessories
- Plus, spreading the cost of the bike over the year means you don’t need to make one large payment, and you’ll barely notice the money going out each month
The benefits for employers:
- We’ve already mentioned that businesses will get more from their happy, healthy and present employees, which can help to save money on sick days and most profits throughout the year
- They can also save on National Insurance Contributions for employers (up to 13.8% per person that takes part)
- If enough people join, this can cut down on the number of parking spaces needed at the office; after all, bike racks are much smaller! Which can help to cut costs on creating and maintaining more spaces
5. Cutting down on commuting times
And finally, one of the most frustrating parts of driving to and from work, especially after a long day at the office, is congestion and the time spent sitting in traffic. This is particularly true when there are accidents or roadworks that slow things down! Therefore, cycle to work schemes can help with commutes in several ways:
The benefits for employees:
- Cycling to work allows employees to use shortcuts that cars can’t take and to duck 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
The benefits for employers:
- Employees that cycle to work are less like to be late as they can get through traffic much easier
- More people on bikes can also help to cut congestion and traffic in the local area, something which the local community appreciate just as much as businesses