Salary Sacrifice- it’s no sacrifice at all

Salary Sacrifice, it’s no sacrifice at all

With a current fleet of over 20,000 cars, 95% of which are on salary sacrifice, Tusker has been providing this employee benefit to a growing customer base for more than 14 years. During that time we’ve put over 60,000 vehicles on the road. We have over 900 salary sacrifice customers including NHS Trusts, councils, and many large and small corporate businesses including British Airways, EDF and AstraZeneca.

Tusker’s salary sacrifice scheme supports the recruitment and retention of staff, which in the current market is so important for businesses. With increased competition in the workplace for employees, companies providing a salary sacrifice scheme can retain staff but also attract new talent because of the power of the salary sacrifice offering.

With Tusker, the scheme also provides protections for employees with comprehensive early termination, redundancy, and long-term sickness protection so employees or employers are not penalised in the event of any of these situations arising.

Our research shows that the majority of our drivers would not have opted for a new car without the scheme, and with the average age of the car our drivers’ move from being over eight years’ old, we are helping drivers access newer, safer, more economical and more environmentally friendly vehicles.

This also helps companies address grey fleet issues as it reduces the number of drivers driving their own car on company business.

The strategy for Salary Sacrifice, which includes the reduced BIK rates currently available for Electric Vehicles, means those on lower salaries can access EVs for the first time. It also allows Tusker to provide this benefit to those not offered a traditional company car where a higher salary or job role is a pre-requisite to a vehicle.

As a result of the unique way the scheme is set up, well over 70% of Tusker’s fleet are 20% taxpayers ensuring that this audience who haven’t been catered for with company car benefits previously, now have access to affordable electric vehicles.

We have seen more ‘cash for car’ drivers taking advantage of salary sacrifice, because it offers them a fixed price, all-inclusive car, enabling them to get into a new Electric Vehicle more cost effectively than if they were to buy or lease the vehicle as a retail driver.

More and more, organisations are realising the need to reduce their environmental footprint and offering a salary sacrifice scheme enables the company to provide the opportunity for mass market employees to access lower or zero-emitting vehicles.

The scheme works very well with electric cars, with many more affordable than their diesel or petrol equivalent models. Not only is the scheme therefore helping lower the UKs emissions, but it’s also supporting the Government’s Road to Zero strategy. Tusker’s fleet is now almost 50% electric and they are well on track to hitting their target, and responsibility, to have a fully electric fleet by 2030.

Vetting your salary sacrifice supplier before appointing them is vital. Providers like Tusker, with over 14 years’ experience, have large numbers of customers and specific processes in place to support drivers and organisations offering salary sacrifice. Choosing a provider who has experience and salary sacrifice as a core focus is going to make the difference compared to those offering salary sacrifice as an additional product, or for those new to the market.