Wednesday, December 19, 2018

Productivity surges as Cycle to Work investments rise


Cycle storage facilities are being invested in by soaring numbers of employers, according to workplace equipment supplier Slingsby, following the huge boom in cycling over the last 12 months.

The trend has been boosted further by Britain‘s successes in the Olympics and Tour De France, and could also be helping to increase employee productivity according to a new study.

Research in Aviva‘s Health of the Workplace 2012 report reveals that after introducing health-related benefits, including bikes for work schemes, 89 per cent of employers saw productivity increase, 88 per cent felt employees were more motivated and 83 per cent experienced reduced sickness absence.

In 2012 the Government‘s ‘Cycle to Work‘ scheme saw a 7.9 per cent increase in take-up compared to 2011. The system makes it possible for employees to save money on bikes and related safety accessories by making them completely tax-deductible.

Employees effectively ‘hire‘ a bike from their employer by paying monthly instalments that are taken from their salary before tax. The hire agreement usually lasts for between 12 and 18 months and then the employee buys the bike for a percentage of its original cost price.

Lee Wright, Marketing Director at Slingsby, which supplies more than 35,000 products across all industries, said: “Recently cycling has become hugely popular with the success of British cyclists Chris Froome and Bradley Wiggins in the Olympics and Tour De France helping to put the sport in the spotlight.”

Tesco launched their Cycle to Work scheme in March this year to all 300,000 staff as it aims to reduce over 117 tonnes of carbon dioxide being offset each month.

In addition rising fuel prices, improved cycle networks and the nation‘s desire to stay healthy all make cycling even more appealing. As a result there are thousands more bikes on our roads and as spring approaches they will become the main mode of transport for many peoples‘ commute to work.”