22.06.2022

11.5% of UK businesses offer a cycle to work scheme to their employees

New research carried out by card payment provider, Paymentsense, reveals that 11.5% of current job applications offer a cycle to work scheme to their employees. The benefits a company offers its staff can be ‘make or break’ for many current or prospective employees, in particular as the Pandemic caused a shift in working habits.

With this in mind, Paymentsense analysed over 647,000 job adverts to discover the most commonly advertised employee benefits promoted by UK businesses.

The top 20 employee benefits advertised by businesses in the UK:

Rank	Benefit	% of jobs advertised with this benefit
1	Company pension	16.6%
2	On-site parking	15.1%
3	Bonus scheme	12.0%
4	Cycle to work scheme	11.5%
5	Hybrid	9.6%
6	Employee discount	8.6%
7	Flexible schedule	8.4%
8	Discounted or free food	6.1%
9	Childcare	5.5%
10	Work from home options	5.5%
11	Company events	5.2%
12	Gym membership	5.1%
13	Remote	5.1%
14	Private medical insurance	4.7%
15	Life insurance	4.4%
16	Referral programme	4.0%
17	Wellness programmes	3.5%
18	Free parking	3.4%
19	Company car	3.1%
20	Birthday day off	1.2%

11.% of jobs advertised offer a cycle to work scheme as a perk to employees

The cycle to work scheme is a great employee benefit to have and you can request a cycle to work package of more than £1,000. The cycle to work scheme is simple, you choose your bike and hire it for as long as you and your employer agree on and then put the value down to a minimum. The scheme works by paying nothing upfront and payments are then taken from your salary. Overall in the UK 11.5% of jobs are advertised with the cycle to work benefit - which is a nice perk to have, saving money on bikes, plus you get your daily exercise in with your commute to work!

Why employee benefits are so important and how small businesses can get involved

Jon Knott, Head of Customer Insights at Paymentsense commented: “The workplace benefits offered by companies are becoming increasingly important across the world as new ways of working and employee needs change and evolve.

"As a result of Covid-19, it is estimated that 42% of companies are planning to significantly improve their benefit programmes as offering a good salary on its own isn’t enough anymore - more and more workers are looking for benefits that make working somewhere worth it.

"The benefits offered by a company can make a huge difference to an employee’s wellbeing, productivity and loyalty. This ultimately benefits the company too as it will help attract and retain staff, whilst building a positive and rewarding culture.

"Smaller businesses might not have the finances to offer big financial perks, but you can still make your company a great place to work. Flexible working hours allow your employees to do what’s important to them, such as dropping their kids off at work or getting some exercise. Hybrid working is also a good option, as it helps you attract talent from a wider pool of people. This can be especially useful if you’re based in a more remote location.”

To see the full report, please visit here.

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