Northumbrian Water offers a range of tax-efficient benefits that help its 3,000 employees to make savings.
The water and waste supplier has offered childcare vouchers, bikes for work and holiday buying via salary sacrifice since 2006. In 2008, it brought in a scheme whereby staff can pay their water bills via salary sacrifice, and introduced company car salary sacrifice in October 2009. It also offers a taxefficient share-incentive plan (Sip) allowing staff to contribute from gross salary.
Michelle Legg, compensation and benefits manager, says: “Salary sacrifice has been a part of employees’ language for some time now. When we do our employee survey, we ask what they would like to see in their benefits package, which is how [the] water and the car scheme came about.”
Communication for the current enrolment, which closed on 25 February, is centred on the company’s benefits website, provided by Personal Group, through a voluntary benefits booklet, workplace posters, and a news sheet carrying staff stories about savings made through salary sacrifice.
Legg adds: “Times are tight and people are looking to save, so there has been more interest in how these
benefits can save money.”
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