Why car salary sacrifice schemes must consider financial wellness

Almost all drivers understand the stress of receiving an unexpectedly high bill for repairs or maintenance on their car.

For those who already have financial troubles, this can be devastating. However, a well-planned and cost-effective salary sacrifice car scheme can help support employees’ financial wellbeing of staff and remove the stress associated with sourcing and running a car.

Andrew Leech, Managing Director of Fleet Evolution, told HR Grapevine about the impact a strong programme can have on staff.

“With a salary sacrifice car scheme, employees have a lot less to worry about financially and that’s a clear message HR managers can get across to staff,” he said. “For employees who find it difficult to obtain credit at a decent rate, salary sacrifice removes this obstacle and slashes lending costs by leveraging the power of the employer.