A Cycle to Work programme is a great way to improve employee wellbeing while saving company funds. As a salary sacrifice scheme, it allows employees to save money on bikes and cycling equipment from hundreds of retailers nationwide to encourage a healthier commute.
Reward Gateway’s exclusive Cycle to Work scheme – run in partnership with Halfords Cycle2Work – is easy for employees to understand and offers a simple, fuss-free user journey. What’s more, thanks to its integration with SmartPay™, employers will find it easy to administer and manage, with instant approvals and a streamlined process for payroll.
Our Cycle to Work scheme can help employers:
- Improve employee wellbeing
- Save on National Insurance contributions
- Deliver instant savings to employees
- Reduce administration and compliance risk from salary sacrifice benefits
National coverage through Halfords and 800+ independent retailers
Our partnership with Halfords Cycle2Work means that employees have the largest range of retailers nationwide where they can redeem their Letter of Collection (LOC/eLOC) to purchase their bike and equipment.
Employees can make their purchase in-store or online at Halfords, online at tredz.co.uk as well as from over 800 independent bike shops across the UK.
Designed with employees in mind
Employees can easily navigate their RG Cycle to Work programme with added features such as a store locator to find their nearest Halfords or other participating retailers to buy their new bikes or bike equipment.
It takes only a few steps to sign up, with instant approval (see “Instant bike and equipment collection”, below), so they can start shopping (and saving!) right away.
We’ve also designed an employee-facing FAQ that sits right in the programme so they can better understand their benefits, including an estimated savings calculator and any applicable documents from their order history, for their records.
Simplified, streamlined administration in SmartPay™
Our unique benefits portal, SmartPay™, allows for easy control and visibility over current and scheduled benefits windows that client administrators can change at the touch of a button.
Instant bike and equipment collection
Clients can choose to allow Cycle to Work Letter of Collection (LOC) to be auto-approved instantly in SmartPay™. This means employees can have their applications approved straight away, rather than waiting for employer approval. Clients simply upload their payroll information into our secure benefits administration portal SmartPay™, set the auto-approval process and let us take care of the rest.
Dedicated campaign support and tailored communications
Our Client Success Managers work closely with our clients to communicate the Cycle to Work benefit to employees and drive sign-ups at strategic points of the year. It's really important that, when application windows open, employees know about it and are excited to take part. We've been working with clients for many years on creating great Cycle to Work communications that actually work and see an increase in take-up.
Added extras from Halfords
A range of extra offers are available to employees who sign up, on top of the tax savings. This includes lifetime bike safety checks, 10% off any cycling products at Halfords for a year and 14 days’ free insurance on their new bike.
Helpdesk support when it’s needed
Payroll/administration teams can take advantage of our 24 hours, 5 days a week Client Support team who are available over the phone, via email or on Live Chat to answer questions and offer guidance.
Employees can speak to our employee Helpdesk anytime they like, day or night – 24 hours a day, 365 days a year. From purchasing their LOC to questions about how the Cycle to Work Scheme works, your staff will always be able to speak to our knowledgeable, friendly team.
Should any employees require assistance in finding a particular bike, the Halfords Cycle2Work team are also on hand to support.
With RG Cycle to Work, employers can set different monetary limits for Letters of Collection, for different employees. This is especially useful for groups of employees on lower band salaries, for whom the salary sacrifice payments may take them below National Minimum Wage.
We give HR teams the vital tools to measure the success of their Cycle to Work scheme and give them access to reports at their fingertips. Through Reward Manager and SmartInsights™, they can access reports showing total spend, the number of transactions, maximum amount a member can spend for CTW, average order value, and the number of eligible users.
Increased employee engagement
By having a CTW scheme that employees find easy to use and are well informed about, will mean they'll be more engaged with the employer brand and adds to the organisation's EVP.
Additionally, by integrating the RG Cycle to Work module into the client's Reward Gateway benefits platform, they can cross-promote new Cycle to Work application windows alongside other employee benefits, encouraging more cycle scheme sign-ups.