Customer stories: Thakeham

The Power of a Salary Sacrifice Car Scheme at Thakeham

When Liane Richardson joined Thakeham, one of the leading housebuilders in the south east, the company was grappling with an outdated company car scheme. Employees were limited in choice, there were ongoing costs associated with maintenance, and the company was left managing returned cars when staff left. “We had a fleet of our own company cars, and it was really time-consuming,” Liane recalls. “We were doing our own maintenance and dealing with issues like early termination fees when people left. The fleet manager had a lot to sort out.”

Liane saw an opportunity to improve the situation by implementing a salary sacrifice car scheme. She had successfully introduced the Tusker scheme at her previous organisation and felt it would be a great fit for Thakeham as well. “We switched entirely from the old model because salary sacrifice gives staff more choice and reduces the administrative burden on the company. It’s been a win-win,” she explains.

A Flexible and Inclusive Scheme

One of the standout benefits of the new scheme was that it opened the door for all employees to take advantage of the car benefit, not just those with a traditional car allowance. “We now have far more cars through Tusker than we ever did with company cars,” Liane notes. “It’s great because everyone can access it.” Additionally, Thakeham has seen growing interest in electric vehicles (EVs), with the salary sacrifice scheme playing a big part in this. “Without a doubt, more employees are opting for electric vehicles thanks to the scheme,” says Liane.

Once a few employees signed up for the scheme, interest began to grow organically. As of October 2024, Thakeham had around 60 cars on the salary sacrifice scheme with another 15 on order, which Liane considers a significant number for the company’s headcount. “Once a few people take the leap, it spreads quickly. It’s a rolling effect. Word of mouth really is powerful – colleagues trust each other’s experiences, and that’s far more convincing than any email or presentation.” By making electric vehicles more accessible and appealing, Thakeham has not only boosted employee satisfaction with employees practically becoming advocates for the programme themselves but also made meaningful strides toward sustainability.

Sustainable Benefits

The company’s Sustainability team actively tracks the data that Tusker provides to Thakeham as part of their environmental reporting. Some staff contracts even stipulate that employees must choose an EV, with further incentives like a salary uplift for doing so.

To further encourage EV adoption, Thakeham provides a £500 contribution toward installing a home charging point. This is all part of the company’s broader initiative to promote a greener way of living.

According to Liane, “We’ve had a big drive on getting our staff into electric vehicles, and the salary sacrifice scheme plays a key role in that. The benefits of the scheme help make EVs more affordable for our team, aligning with both their needs and the company’s sustainability goals.”

Employee Wellbeing and Financial Relief

The scheme has also provided much-needed financial relief for some employees. Liane shares a heartwarming story: “One employee was struggling financially and came to us to ask for a loan. They were having problems with their car and thought they could never afford a new car. But when we showed them how the salary sacrifice scheme worked — with no upfront fees and a fixed monthly cost covering everything — they realised they could absolutely afford it and having a reliable car took a massive worry off their plate.”

This kind of feedback has been common. Many staff members appreciate having the peace of mind that comes with a reliable, fixed-cost vehicle, and the scheme’s flexibility has made it accessible to a wide range of employees. “Some people are on to their second vehicles now, which shows that they’re happy with how it’s working,” Liane says. “It’s a good sign when people are willing to renew.”

Simplified Administration and Cost Management

From an administrative perspective, the scheme has made things much smoother. “Tusker’s processes work well, and we don’t really hear any complaints,” Liane mentions. “We get a monthly report, process the payments, and that’s it. There are occasional challenges, like dealing with fines or specific queries, but the account manager is always quick to help.”

The Business Case for Salary Sacrifice

The move to a salary sacrifice scheme has not only made things easier for employees but has also significantly reduced risks for the company. “We no longer have to worry about the financial risks of people leaving and being stuck with expensive cars,” says Liane. This was a particular pain point in the previous scheme, where the company could be left with costly vehicles when employees departed.

Overall, Thakeham’s switch to a salary sacrifice car scheme has been a huge success. It’s given employees more choice, reduced administration, supported sustainability goals, and made a positive impact on staff well-being. Liane sums it up: “It’s a great benefit that works for everyone. Whether it’s our senior staff or someone on a tighter budget, the scheme gives people access to a reliable car without the usual financial headaches.”

The Tusker scheme has become a flexible solution for Thakeham’s diverse workforce, providing financial predictability and eliminating the need for employees to take on personal loans for vehicle purchases. The scheme goes a long way to helping electric and low-emission vehicles be accessible to all.

Key Information
Date of launch: January 2021
Eligible employees: 260
Accounts created: 246
*correct as of November 2024