Two in five (39%) of employees are missing out on cycle-to-work savings, new research from Sodexo Engage has revealed.
Released to coincide with bike week from 5-12 June, the findings from a poll of 1,000 adults showed that while nearly two-thirds (64%) have access to a workplace cycle scheme, only a quarter (25%) are taking advantage of it.
Graham James, director at Sodexo Engage, said: “Cycle-to-work schemes can help employees save on increasingly expensive commutes. But clearly just having a scheme doesn’t guarantee take up, as our research shows. It’s important that employers are communicating these benefits and making it as easy as possible for employees to make use of them in order to gain those all-important savings.”
The data also suggests that only 11% of employees are cycling to work. Reasons for not doing so included the distance between their home and workplace, cited by a third (33%) of respondents, and a lack of shower facilities, noted by 14%.
James added: “The reasons given as to why people aren’t cycling to work shows a clear need to empower employees to help them realise that cycling to work is a viable option to offset the cost of commuting. This will require a holistic approach from HR and business leaders, encouraging employees to take up cycling and make full use of the cycle-to-work benefit.”
In terms of commuting, those surveyed reported they were doing so an average of 3.15 days a week, spending £24.97 on related expenses – equating to annual average of £1,199. This figure was greater for those in London, at £1,577.
Sodexo highlighted that a cycle-to-work scheme is a more affordable commute, enabling people to save up to 42% in tax and NI contributions and spread the cost across 12 to 18 months. Additionally, when the full payment has been made, they can continue saving money by using their bike to get to and from their workplace.