Pepper Money’s journey to sustainable employee benefits
Pepper Money, a major consumer finance company with more than 350 employees across the UK, has demonstrated its commitment to environmental, social and governance (ESG) targets by introducing sustainable employee benefit options.
Through its partnership with Tusker, Pepper Money has introduced a salary sacrifice car scheme.
The scheme, which reduces the company’s environmental impact, also modernises its reward offerings to boost the wellbeing of its workforce.
The initiative reflects Pepper Money’s aim to transform the inclusivity and sustainability of their benefits.
Diverse workforce
The scheme helps the company be more environmentally aware, while catering to the needs of Pepper Money’s diverse workforce, with UK employees in Cardiff, London and Manchester offices, and many others in remote and field-based roles.
“The decision was driven by our ESG strategy. We wanted to promote environmentally friendly initiatives and help our employees transition away from petrol and diesel vehicles,” said Sophie Alcock, a project manager at Pepper Money who oversaw the scheme’s implementation.
Pepper Money has created a committee and appointed an ESG director to position operations with their sustainability goals.
The introduction of Tusker’s electric vehicle (EV) scheme was part of the company’s overarching strategy to reduce their environmental footprint, both internally and through its supply chain.
For example, other ESG strategies the company has enlisted include a green mortgage product and partnerships with several ecological organisations.
Before selecting Tusker, Pepper Money conducted a comprehensive comparison of EV salary sacrifice providers.
Its ultimate decision was based on two elements: Pricing and Tusker’s comprehensive offering, plus the great reputation of the scheme.
Tusker’s has existing partnerships with major organisations such as the NHS, as well as Lloyds Banking Group (which is also a partner of Pepper Money).
Straightforward onboarding
Once the contractual details were finalised, Tusker helped ensure a smooth implementation.
It was further simplified by Pepper Money’s payroll team, who understood salary sacrifice schemes having enrolled a cycle to work scheme and private medical benefits.
The Tusker car scheme has been well received by employees, with around 40% of the eligible workforce logging in to explore their options in the first 3 months.
Since the launch in September, the scheme has seen a strong uptake for a company of its size - especially considering that changing vehicles is a major decision and is only done when it’s the right circumstances for each individual.
“Feedback from participants has been overwhelmingly positive,” said Alcock.
“Employees have praised the ease of using Tusker’s website and the quick turnaround times for vehicle delivery.”
Meeting sustainability goals
Pepper Money’s collaboration with Tusker emphasises the growing importance of shaping employee benefits to meet sustainability goals.
The scheme not only supports the company’s ESG commitments but also provides employees with an affordable, flexible way to drive an EV and reduce their environmental impact.
The initiative, with great uptake and feedback, serves as a model for other organisations looking to modernise their benefits while reducing their carbon footprint.
As Pepper Money continues to explore new ways to enhance its ESG strategy, the Tusker car scheme stands as a testament to the company’s dedication to sustainability, employee wellbeing, and innovation.
Supplied by REBA Associate Member, Tusker
Market leaders in salary sacrifice car schemes with more than 15 years’ experience.
