Today’s new buzzword is ‘green quitting’, and the idea behind it is to be taken seriously.
Recent research by KPMG and AMBA has found an employer’s commitment to ESG values impacts how employees view the company. HR leaders need to pay close attention to the ESG commitments of their organisation when recruiting and retaining talent – many employees will vote with their feet if there’s a mismatch in values.
Prospective employees are likely to research the environmental credentials of an organisation when considering a job offer, with many rejecting it if the values don’t align with their own.
This presents a great opportunity for HR teams to relaunch their benefits package to demonstrate commitment to sustainability and employee wellbeing.
The Cycle to Work Scheme adds variety and sustainability to the rewards mix. Cycling is very topical as the climate, health, and financial crises have led to a rise in the number of people opting to commute by bike. Employers need to support colleagues wishing to use active travel for the commute.
The Cycle to Work Scheme is a self-funding employee benefit using salary sacrifice to access tax savings. By partnering with Green Commute Initiative (GCI), employees can save 32-47% on any type of cycle, including e-bikes and cargo bikes. There are no “ownership fees” to make a dent in the savings, and the employer also saves through reduced NICs.
GCI’s scheme is HMRC and FCA compliant, and they will advise employees on the most tax-efficient way to use the scheme to ensure maximum possible savings are achieved. GCI is certified for ISO-27001 and ISO-9001 and has recently been added to the Crown Commercial Services framework.
It’s also worth remembering that more employees cycling to work will positively impact reporting under Scope 3 of the GHG Protocol.