With spring around the corner, your employees might be looking to shake up their morning commute and swap their car out for a healthier lifestyle choice–for both them and the planet. But first, they’ll need a bike.
Employers can help their employees afford a bicycle more easily through cycle to work schemes. But how to determine the best cycle scheme for your team? We’ve put together a list of Ben’s top picks, so you know where to start your search.
Let’s dive in!
What is a cycle scheme?
Cycle schemes are an employee benefit aimed at increasing cardiovascular health while reducing the number of cars on the road.
They are operated through salary sacrifice.
Basically agreeing to give up some of your gross salary (before tax) in exchange for a benefit. In this case, a new bike and accessories.
By having a salary sacrifice, you and your employees reduce the amount of national insurance contributions paid.
And if your employees already own a bike, they can still apply! If they want a second bike for a new season’s tougher terrain or just a full-blown upgrade, they can still make use of the benefit.
Depending on the provider, using cycle-to-work schemes for accessories is a very popular option for employees who already own a bicycle and just want to upgrade their equipment.
Why are cycle scheme benefits important to offer your employees?
Other than saving on National Insurance contributions, a cycle-to-work scheme helps your company to meet their ESG goals by reducing their employees’ carbon footprint.
If more of your employees have the necessary equipment to cycle safely, they are more likely to cycle than take their cars to work.
Fewer cars = less congestion = less harmful emissions = healthier planet.
Also, because cycling offers physical health benefits to your employees, introducing them as a benefit shows that you as an employer care about your employees beyond their contribution in the workplace.
Top 5 cycle scheme benefit providers
DASH
DASH are on a mission to get more people cycling.
Known for their all-inclusive bike subscriptions, DASH have recently supercharged their offering to include access to discounted bike-sharing services, and a first-of-its-kind online store all in one single platform.
The new DASH Store eliminates the need for complex and outdated cycle-to-work vouchers, allowing you to save between 28-47% on bikes, clothing, accessories, parts, and more, all whilst using a familiar e-commerce platform.
Simply choose and checkout, with payment taken directly from your salary over 12 months, interest-free.
DASH's flexible all-inclusive subscriptions continue to be a popular choice amongst new and existing cyclists, with an expanded range of manual and electric bikes available from just £27 /month. Each flexible plan includes the your choice of bike, a helmet, lock, theft cover, and on-demand repairs for one monthly payment.
For riders looking for even more flexibility, DASH offers flexible monthly subscriptions to bike-sharing services such as Forest, TFL Cycles, and Beryl. With no storage, or maintenance required and prices starting from just £6 /month, these schemes offer the ultimate hassle-free cycling experience.
For employers, DASH is a great way to take care of your team's financial, physical and mental wellbeing whilst making a positive on their carbon emissions. It's free to use and taken just minutes a month to manage. Easy.
Cyclescheme
Blackhawk Network’s Cyclescheme has the biggest selection of cycling brands for your employees to choose, partnering with over 2,600 bike shops across the UK—more than any other scheme provider! This includes independent bike shops in your local community, big-name stores, online retailers and even brand direct.
With over one million satisfied Cyclescheme customers and counting, Blackhawk is more than experienced in helping your employees save big on their cycle equipment.
gogeta
gogeta knows that cycle-to-work schemes have historically been complicated and difficult to set up and their aim is to change all that. You don't need to be experts in cycle to work. That's their job!
They support you every step of the way–admin help doesn't end when a voucher is approved. That's when it begins.
They are passionate about getting the world cycling, so they have worked hard to revolutionise how a salary sacrifice scheme works, to deliver best-in-class savings for your employees.
With gogeta, employees can expect the best savings of any cycle to work provider, which can mean +50% off!
Old schemes find ways to reduce savings by removing access to discounted pricing or with final ownership fees. gogeta thinks that the way to get more people cycling is by unlocking every way to maximise savings.
Halfords
Halfords are a founding member of the Cycle to Work Alliance, a group which promotes the benefits of commuting by bike and works closely with government and the wider policy-making community to encourage more people to cycle to work. The group campaigns for cycling inclusivity - and it is this that has pioneered the recent changes to the guidance for employers. Everyone from fair weather riders to hardcore cyclists can now get whatever they need to commute by bike, irrespective of their budget.
When employees enrol on Halford’s Cycle2Work scheme, they will have access to the following fantastic benefits:
• 10% off cycling essentials at Halfords for 12 months
• Unlimited Lifetime Safety Checks on all cycles obtained through the scheme
• Lifetime Guarantee on Halfords brand cycles
• Access to all sale and promotional prices at Halfords and Tredz
• 14-day free cycle insurance
Cycle Saver
Cycle Saver offer bike rental through their cycle-to-work subscription programs.
With Cycle Saver, your employees can save 30%-47%, with subscriptions starting at only £5.30 per month. All they have to do is select their preferred subscription, submit their application, and wait for employer approval. And that's it!
Plus, as the UK's only cycle to work scheme with a focus on bike hiring and sharing subscriptions, it offers your employees peace of mind, convenience, freedom, and affordability.