Acorn Stairlifts, one of first to roll out Cycloan to staff
You at Work has been rolling out its new benefit Cycloan, a net pay, interest free cycle loan scheme, developed in partnership with Halfords.
It’s designed for employees who would not normally be eligible for a traditional Cycle to Work scheme because they would fall below national minimum wage, or they work remotely, and wouldn’t be able to take advantage of Tax and NI savings.
Acorn Stairlifts, one of the world’s largest independent manufacturers and suppliers of stairlifts, has been one of the first clients to rollout the Cycloan benefit to 500 of their UK staff. Their window was open for two weeks and 8 selections were approved in that time.
Kate Gledhill, Group HR Director, said ‘It’s important to us as an organisation that we’re as inclusive as possible with our benefits and at the same time support our employees’ wellbeing. Launching this benefit has allowed us to make sure that everyone can make some savings if they want to take up cycling as a regular healthy habit.”
Staff at Acorn Stairlift can choose from a range of affordable bikes through Halfords, Tredz.co.uk and independent local retailers. They also benefit from: a discount voucher for cycling essentials; free lifetime safety checks on all bikes; plus free insurance.
Alicia Aldis, Operations Director, You at Work said, “We had a number of clients who wanted to offer all staff the benefit of a greener, healthier lifestyle through cycling but were unable to do so. This benefit fills that gap for those employees that can’t take advantage of their company’s cycle to work scheme”.
Chris Oakley, Head of Business and Commercial Development at Halfords said, “It’s been great to collaborate with You at Work and bring something innovative to employers that means none of their employees need to miss out on the benefits of cycling. The employee will own the bike from the beginning as well, it isn’t hired, making this a truly unique offering as an alternative to the traditional Cycle to Work scheme.”
Do you have employees who can’t take advantage of your traditional Cycle to Work Scheme. Contact us today to find out more about Cycloan.