Why Cycle to Work could be the perfect wellbeing benefit

Cycling boomed during lockdown, and now that many people have returned to the office many of them don’t want to go back to their old ways of commuting

Post-Covid-19 pandemic, reliance on public transport has declined. Rising costs and busier routes have turned the average commuter towards different ways of reaching the office.

But what if we told you there’s a way to travel into the office that saves employees money, helps them stay fit, and provides a greener alternative for Mother Earth.

According to the CycleScheme, 51% of people want to cycle to work. And with the opportunity to spread the cost of a new bike over 12 or 18 months while making tax and National Insurance savings, it’s clear that making the transition from seat to saddle is a good deal.

The Cycle to Work salary sacrifice scheme could be the perfect wellbeing benefit for commuters.

While not new, it is perhaps being given new life as hybrid/office working rules over working from home.

Tour de France of wellbeing benefits

So, how does it work?

Employees can hire a bike and/or safety equipment to travel to work, usually for 12 or 18 months.
Saving employees tax and NI, they select a voucher or choose a bike.
They will agree with the hire arrangement and pay the full value of that through salary sacrifice.
At the end of the hire agreement, the employee can either extend the agreement, return the cycle and/or equipment or buy it outright.

Burn calories, not cash

Saving money and staying fit is the perfect combination for some employees. For employers, Cycle to Work can increase productivity and improve their carbon footprint. For society, it means lower congestion and better air quality.

A cost-effective way to save employees up to 42% through salary sacrifice contributions, an employer Cycle to Work scheme can leave other transport methods trailing behind.

And as we continue to battle through a cost-of-living crisis, commuters are looking to chop and change their routine to try and put a few extra quid in their pocket. According to Mobility Ways – the Commuter Census 2022, the average five-day car commute equates to £1,610 a year in fuel alone.

So why not offer an alternative to the standard journey to work? An off-road adventure, or a quiet country lane perhaps. Add that to the savings your company bike scheme will make both financially and environmentally and you have yourself a recipe for success.

Find out how Zest can help you implement an innovative benefits scheme that includes Cycle to Work.