Saving money tops the list for employees when it comes to workplace benefits, according to a new survey by YouGov on behalf of Octopus Electric Vehicles.
Nearly three-quarters (73%) of respondents cited cash saving as the most important factor when choosing their benefits, with those focusing on mental and physical wellbeing following far behind at 42% and 39% respectively.
Despite this, further research by YouGov and Octopus found only 18% of UK employers provide salary sacrifice for electric vehicles (EVs), which could significantly reduce travel costs for their staff.
Commenting on the findings, Fiona Howarth, CEO of Octopus Electric Vehicles, said: “It’s a really difficult time for many households, so it’s no surprise that people are prioritising financial support from their employer. An EV salary sacrifice scheme can save employees thousands of pounds on their car costs, making an electric car a possibility for many that couldn’t afford to buy one.”
By paying for a new electric vehicle through their gross salary, the arrangement works in the same way as the cycle-to-work scheme and enables employees to save 30-40% of its monthly cost.
Three-quarters (74%) of employees who understood how the salary sacrifice arrangement worked said they would like to be offered the scheme at their company.
However, just half of those polled felt comfortable asking their employer for more benefits.
Just one out of three respondents (36%) claim to be aware of all the available benefits offered by their employer, while more than half (54%) have never been asked, or don’t remember ever being asked, for feedback on their employee benefits.
“For many people, the idea of speaking to their boss or HR team about employee benefits can be pretty daunting, so we’ve created an info pack and are on hand to make it as easy as possible,” Howarth added. “Ultimately, most companies want to create a great place to work – and armed with information on these benefits, we find employees are having great conversations. ”