The Cycle to Work Scheme saves an estimated £388.2 million per year for commuters across the UK.
The Cycle to Work Scheme is a valuable employee benefit for employers, according to a major survey of 7,000 scheme users conducted by the Cycle to Work Alliance.
Across the UK, 40,000 employers of all sizes from the private, public and voluntary sectors currently offer the Cycle to Work Scheme to their staff and over 500,000 of their employees have taken up the scheme to date. Overwhelmingly, employers feel that the scheme is an important employee benefit to offer and that it yields positive results for the business and for staff.
Furthermore, with increasing pressure on organisations to promote workplace health and wellbeing, the scheme is an effective tool for employers meet this aim. 63.5 per cent said the scheme had a positive impact on staff health and 44 per cent said that the scheme helped increase staff engagement.
As one of the most popular employee benefits, a majority of employers have offered the scheme for over five years and agreed that the scheme was easy and convenient to offer. The scheme is particularly popular amongst microbusinesses; 45 per cent of employees take up the scheme that is offered by their employer.
Steve Edgell, Chair of the Cycle to Work Alliance, said:
“This research proves, once again, that the Cycle to Work scheme is a valuable employee benefit for employers who are keen to promote health and wellbeing within their organisation, and want to incentivise their employees."
“With a greater focus than ever on the importance of employers promoting employee wellbeing and health, it is clear from a business perspective that the scheme is making a big contribution in these areas."
“Furthermore, in an increasingly competitive employment market, employers felt that the scheme helps improve staff productivity and acts as an incentive for staff satisfaction and retention.”
Beyond the financial gains the cycle to work scheme offers there are a whole host of health benefits to be enjoyed as well.
So what are you waiting for? Sign up to Cyclescheme today.