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Biking with Benefits–Why You Need to Get Involved with the Cycle to Work Scheme

   Words by Ben Mercer

   on 21/04/2020 14:30:00

You’re probably already aware of the Cycle to Work scheme, but is it something your company actually offers? Whether you’re an employee or a business owner yourself, you may be considering whether or not cycling to work is an option for you. If you’re not sure on the ins and outs of the scheme, this is a government incentive that will allow you to save up to 42% on a new bike and accessories by tax efficiently taking the payments out of your salary over time.

So how does the Cycle to Work Scheme work? Quite simply, the scheme allows you to spread the cost of a brand new bike by paying in instalments that are taken directly from your salary. Ultimately, you will save money on your new bike and equipment through doing this, as your payments are taken from your gross wage, and your tax and NI contributions are worked out in accordance with your new lower gross wage. The scheme won’t just allow you to save on the bike itself either - it also covers you for helmets, bells, lights, mirrors, locks, pumps, reflective clothing and more, so you can cycle to work knowing that you’re fully kitted out.

Still not convinced the Cycle to Work Scheme is for you? Read on to find out just some of the benefits you’ll discover by getting on your bike.

Employee Benefits of the Cycle to Work Scheme

Cheaper and Hassle Free Commutes

If your commute eats away a hefty chunk of your salary, then it could be that cycling to work is a much more cost effective option. If you drive to work, you’ll save a bundle on fuel and any parking fees you usually pay, as well as spending less time sitting in traffic or even stressing yourself looking for a parking space. For those that take public transport, you’ll be saving money on bus or rail fare, as well as saying goodbye to crowded trains, packed platforms and endless delays. Bikes are now cheaper than ever too, and with discounts available on websites such as My Favourite Voucher Codes, there’s never been a better way than to get a brand new bike for less.

Improve Your Fitness

Cycling is a great form of exercise so it’s perfect if you’re looking at burning a few calories or just wanting to keep fit. Not only will riding your bike to work each day improve your fitness, but it may even mean you don’t have to spend so much of your free time at the gym!

Better Mental Health

Exercise and mental health go hand in hand, and cardiovascular exercise such as cycling is no exception. With a range of mental health benefits such as reduced stress levels, reduced anxiety and calmer thinking, it’s clear that cycling isn’t just good for your physical fitness. The proof is in the research too, as a study by Cycling UK found that 48% of Cyclescheme participants reported feeling happier, while 82% said they felt less stressed in the office.

Do Your Bit

These days we’re more conscious of our carbon footprint than ever, so it’s important to make lifestyle changes wherever we can. While driving to work is a convenient choice for most of us, it contributes to a high volume of pollution. Not only is this damaging to our health, but it’s damaging to our precious planet too. By cycling to work you’ll be doing your bit to reduce your CO2 emissions, leading to cleaner air for everyone.

Upgrade Your Bike

If you’re a keen cyclist as it is, signing up to the Cycle to Work scheme is a no brainer. Along with all the other benefits we’ve mentioned, there’s an even more obvious one. You’ll be able to get yourself a shiny new bike with all the accessories you’ll need, along with a nice little saving thrown in! 

Employer Benefits of the Cycle to Work Scheme

Happier & More Productive Staff

The mental health and physical benefits for employees are also beneficial for bosses too. With reduced stress levels and happier workers, enrolling in the Cycle to Work scheme is clearly a positive step when it comes to looking out for the wellbeing of your staff too. One of the main areas that workers are keen for their employers to deliver on is health and wellbeing, according to this article by Forbes. Not only that, but with 67% of Cyclescheme participants reporting that they were more productive after cycling to work, it may well just increase productivity in the workplace too.

Enhance Your Employee Benefits

Enrolling your business in the Cycle to Work scheme is a great way of enhancing the employee perks that you offer. A good looking benefits package will no doubt make your organisation more appealing when it comes to recruitment, especially given that half of employees in the UK have said that staff benefits would make them feel happier at work. Whether you’re looking at hiring some new recruits, or just wanting to improve your employee benefits plan in the long run, this is a useful way to do it.

Employee Retention

It’s not just potential employees that can benefit from your business signing up to the scheme either. A lack of unsatisfactory compensation and work benefits along with poor wellbeing has been cited as one of the top reasons for why an employee leaves their job, so enhancing the range of benefits your company offers along with a scheme that contributes to improved wellbeing could be a great way to boost employee retention.

A More Sustainable Business

Many businesses are now looking at how they can reduce their carbon footprint, and signing up to a scheme like this is an excellent way to do so. The more of your employees choosing to cycle to work, the more your business is doing its bit for the planet, allowing you to take those further steps into becoming a greener company.

 

So there you have it, just a few reasons why the Cycle to Work scheme is beneficial for everyone involved. Whether you’re an employee or a business owner yourself, we hope we’ve given you some food for thought. The Cycle to Work scheme is a great initiative to get involved with, and you can pick up a brand new bike from us here at Leisure Lakes Bikes completely tax free! We have everything you need here to get you completely kitted out, and joining the scheme is quick and easy. Get on your bike today and reap all of the fantastic benefits!

Written by Amy Jackson - 12th February 2020

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