In a world where traditional benefits like pensions are taking a backseat, innovative schemes are emerging.
- UK Power Networks introduces an electric vehicle (EV) reward scheme gaining traction.
- More than 45% of employees express interest in leasing an EV through the scheme.
- The initiative has already delivered 300 vehicles to employees, with 66 more pending.
- The scheme is part of a broader strategy to align benefits with sustainable, eco-friendly practices.
Gone are the days when a standard pension scheme alone was sufficient to attract top talent. The modern workforce now prioritises sustainability and cost-efficiency, prompting companies to innovate in their benefits offerings. UK Power Networks has responded to this shift by implementing an electric vehicle reward scheme, allowing employees to lease EVs with favorable terms.
The scheme, which operates through a salary sacrifice arrangement with Tusker, a car leasing company, has resonated well with employees. Over 45% have shown interest in participating, and to date, 300 vehicles have been delivered, with an additional 66 vehicles scheduled for delivery. Employees can choose from various popular models, including the BMW iX3, Nissan Leaf, Kia EV6, and Mercedes-Benz EQB.
This forward-thinking reward system includes comprehensive benefits such as no upfront costs and inclusive packages covering maintenance, insurance, tax, and roadside assistance. Such incentives not only enhance employee satisfaction but also promote environmentally responsible lifestyle choices.
Robert Greenoak from UK Power Networks’ Low Carbon Readiness team exemplifies the scheme’s success. Greenoak leased a Nissan Leaf, expressing that it significantly improved his quality of life by saving time and money while contributing positively to the environment. He praised the scheme’s all-inclusive insurance feature, which eliminated the need for additional administrative tasks.
Steve Remnant, Head of Reward and HR Services, highlighted the strategic intention behind these benefits. By offering schemes that support sustainable living, the company not only meets evolving employee needs but also attracts younger talent keen on environmental impact, thus positioning itself as a leader in supporting the UK’s Net Zero ambitions.
Additionally, UK Power Networks provides other benefits, such as tenancy loans, cycle-to-work grants, mental health services, and payroll deductions for technology. These offerings are designed to further enhance employee well-being and job satisfaction.
Partnering with Tusker, which has committed to carbon offsetting since 2010 and aims for a zero-emission fleet by 2030, reinforces the company’s commitment to sustainability. Kit Wisdom, Managing Director of Tusker, affirmed their goal of reducing emissions through affordable access to modern electric vehicles, reflecting a genuine concern for environmental stewardship.
The electric vehicle reward scheme at UK Power Networks exemplifies forward-thinking employee benefits that align with sustainable and financial priorities of the modern workforce.
