68 per cent of SMEs considering offering electric car salary sacrifice scheme
- Over half (56 per cent) of SMEs are planning to implement Electric Car Salary Sacrifice Scheme (ECSSS) in next 12 months
- 48 per cent of business decision makers believe offering the scheme is part of their company’s responsibility to reduce its carbon footprint
- 45 per cent of companies believe that offering the ECSSS will have a positive effect on retaining and recruiting talent
- Yet just 13 per cent of SMEs currently offer the scheme
More than two thirds (68 per cent) of SMEs are considering offering employees the Electric Car Salary Sacrifice Scheme (ECSSS), with more than half (56 per cent) planning to implement it in the next 12 months, reveals new research1 from Direct Line Group’s specialist flexible fleet insurer Churchill Expert.
As the 2030 deadline for stopping the sale of petrol or diesel cars fast approaches, business decision makers appear to back the scheme. Half of SMEs (49 per cent) believe that all companies should offer the ECSSS to employees, stating that doing so is part of their company’s responsibility to reduce its carbon footprint (48 per cent), while 37 per cent believe it would be irresponsible not to offer it.
While just 13 per cent of SMEs currently offer the scheme, uptake is good as almost half (49 per cent) of employees who drive have signed up to the initiative if available to them.
Looking to the future, 45 per cent of companies believe that offering the ECSSS will have a positive effect on retaining and recruiting talent. This is backed by additional research2 which found 7.4m (33 per cent) driving workers would view their employer more positively if they offered the scheme, and 3.8 million (17 per cent) would consider switching jobs if a similar company offered it.
Nicola Richmond, Head of Churchill Expert Flexible Fleet Partnerships, said: “Our research shows there is tremendous appetite for this scheme. As everyone looks to do their bit for the planet and reduce their own carbon footprint, it’s great to see companies also taking their contribution seriously.
“While availability for the scheme at the moment is low, it’s encouraging to see that companies believe it is part of their responsibility to implement it in the next year. Recently company benefit packages have been forefront of mind, so the introduction of such initiatives can only have a positive effect on how current and potential employees view an organisation.”
Notes to Editors
1 Research conducted by Pure Profile amongst a panel of 100 UK-based SME decision makers, April 2022
2 Research conducted by Opinium amongst a nationally representative sample of 2,002 UK adults between 22nd and 25th March 2022
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About Churchill Expert
Churchill Expert specialises in providing easy access to flexible mobility insurance, as well as business and landlord insurance through partnerships. Part of the well know and much-loved Churchill brand, Churchill Expert is a trading name of insurance intermediary U K Insurance Business Solutions Limited (UKIBS) which has been operating since 2004 and provides NIG policies underwritten by U K Insurance Limited (UKI). Along with the insurer U K Insurance Limited (UKI), U K Insurance Business Solutions Limited is part of the Direct Line Group.