Tusker enhances UK Power Networks Employee Benefits offering

1. Introduction

UK Power Networks are an Energy company that distribute electricity to more than 8 million homes and businesses across London, the East of England and the South East. They have an extensive network of 170,000 kilometres of power lines and underground cables which would tretch several times around the circumference of the planet! They also operate 66,300 substations.

They’re one of the UK’s top ten Best Big Companies to Work for 2020. With over 6,000 employees they are UK Power Networks greatest asset as they’re at the heart of the company and what keeps them delivering reliable power supplies and they’re always there for their customers.

They’re big on recognising, praising and supporting their employees, this has always been a top priority, but during the time of coronavirus this was even more vital to show their appreciation. One of the things they did to show their gratitude was to provide their employees with an employee benefit scheme.

In October 2021, UK Power Networks chose Tusker as their employee benefit package. They could see how beneficial this would be for their employees as they travel around a lot for their job as it is, so what better way than to provide them with a brand new car, with replacement tyres, insurance, servicing, road tax, MOTs, and accident management included!

2. The Challenge

Attracting and retaining high-calibre employees is a challenge for all employers, and it’s a challenge which UK Power Networks recognises and wants to address. They were conscious that a good pension scheme and competitive salary often isn’t enough to attract new employees; and it’s important that they offer a range of benefits to fit with the needs of their employees. For this benefit, they wanted to provide an environmentally friendly and affordable car scheme .

The team at UK Power Networks were keen to choose affordable benefits which would be inclusive for all their employees and not put added pressure on with high-cost benefit packages. The team chose the Tusker scheme as it not only met with their criteria, but also as the Tusker team has the most experience in delivering car benefit schemes.

3. The Solution

The Tusker salary sacrifice car scheme provides employees with an affordable way to drive a brand new electric car. It’s an affordable benefit for many, providing savings in National Insurance and Income Tax for drivers, while also enabling UK Power Networks to make savings on Class 1A NI contributions and pension costs.

The benefit scheme was also attractive to UK Power Networks to include for employees as it has no upfront costs, and includes maintenance, insurance and tax, plus roadside assistance. It’s just one simple monthly payment that comes out of your salary each month, providing you with a brand new car that’s all yours during your agreement.

With EVs becoming more and more popular and technology is being developed and improved constantly, the range and options of our vehicles are huge. From a Volvo EX30 to a Tesla model 3, there’s a wide range for everyone that you can also tailor to your specifications.

Steve Remnant, Head of Reward and HR Services, said: “We actively seek new and creative staff benefits that align with evolving employee needs. While a generous pension scheme may have sufficed in the past, we now complement it with benefits that support employees in leading sustainable, environmentally friendly lifestyles.” “This approach helps us attract and retain top talent. Notably, in recent years, we have observed an increased interest from younger generations who want to work for us, recognising our role as a leading company in helping to drive the UK towards achieving Net Zero.”

4. Scheme Activity

The implementation of the scheme has been well received by employees at UK Power Networks, with over 565 people driving cars on the scheme.

Key scheme info
Launch date: October 2021
No of Eligible Employees: 6,000
Live orders: 567
Total accounts created: 3,285
Unique quotes: 986
Logins: 30.0%
Penetration rate: 62.2%
Data correct October 2024

5. The Results

UK Power Networks’ car benefit scheme has proven a hit with more than 62% of workers expressing an interest in signing up for a car on the scheme.

The salary sacrifice scheme through Tusker delivered more than 493 vehicles in the first three months of going live. We currently have 567 orders with double that quoting for cars. This shows that their employees are showing a huge interest in the Tusker car scheme.

People like UK Power Network employees who are on the road constantly for their job will have a much higher positive impact when getting a car benefit scheme through their work. They don’t have the worries of the car breaking down due to fatigue, lots of service and parts costs, anxiety of the battery running out if it’s an older car, etc. as they get a brand new car and they get all their servicing, etc. included in their cost.

They don’t only get a massive cost saving, they also have added stresses and pressures removed off them. Everything is handled at Tusker.