Cable and Wireless Worldwide has launched an environmentally friendly salary sacrifice car scheme for its 5,500 UK-based employees.
Since the plan was launched at the beginning of August, 1,000 staff have registered to take part. Through the plan, drivers can choose from a range of low-emission brands such as BMW, Mini, VW, Audi and Skoda. Some of the cars available have emissions of just over 100g of CO2 per km.
Employees pay for the vehicles, which are leased to Cable and Wireless Worldwide, through a salary sacrifice arrangement, enabling them to make tax and national insurance savings. Typically, they can save up to £100 a month through the scheme, provided by Zenith Provecta. Insurance, maintenance and servicing costs are included in the monthly payment.
Cable and Wireless Worldwide is to hold a series of roadshows to inform staff of the savings that can be made. A website has also been set up so drivers can explore car options, obtain quotes, place orders and compare savings. Paul Bissell, head of reward at Cable and Wireless Worldwide, said: “We have a continuous improvement approach to our benefits package. I have wanted to run a scheme like this for some time because cars are still a very attractive perk, so there is always a lot of interest. A scheme like this offers a top-quality benefit and a distinct saving for [staff], which, at the same time, is producing saving for the business. Because of the nature of the vehicles being chosen, it is also helping us with our corporate social responsibility agenda in trying to reduce our carbon footprint.”
Paul Bissell will speak on company car salary sacrifice at Employee Benefits Live on 28 September
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