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Workplace Parking Discount

Councils up and down the country are taking advantage of a parking discount scheme that helps their staff make savings on the cost of parking near work and, what's more, saves the council money for each employee who signs up too. But the really good news is that the scheme is available to all businesses and not just local authorities.

Parking Costs Continue to Rise

For many people using their own car is the only practical option for getting to and from work. But motorists continue to be put under pressure, with fuel costs, congestion charges and, increasingly, the cost of parking all adding to the burden. From an employer's point of view, this is really bad news because it can have a direct effect on your ability to recruit and retain the right staff.

It can have a direct effect on your ability to recruit and retain the right staff

Helping Your Staff

Surrey County Council is one of many local authorities throughout Britain who have now signed up to the Workplace Parking Discount Scheme. The scheme is an HMRC-approved salary sacrifice arrangement. Employees pay for a parking space near work by payroll deductions. Their payments are from their gross salary and, therefore, are free of tax and NI payments, which can save a basic rate tax payer well over two hundred pounds a year. That's a two hundred pounds discount off their annual parking charges.

Helping Your Business

But it's not just employees who benefit from the Workplace Parking Scheme. Every pound your employees channel into this scheme via your payroll is free of any Employer's NI payments on your part; and the more people who sign up, the bigger your saving.

The experience for Surrey has been that offering their staff this benefit has had a positive effect on employee retention, and we all know how expensive recruiting new staff to replace leavers can be. Staff turnover rates at Surrey are falling and are now a full percentage point below the public sector average, in part due to schemes like this! http://www.surreycc.gov.uk/__data/assets/pdf_file/0006/487005/SCC_Workforce_Information_Dec12.pdf

Surrey councils staff turnover rates a full percent below the public sector average, in part due to schemes like this!

What Are You Waiting For?

So far, local authorities have been in the forefront of employers signing up to this scheme. Not surprising, perhaps, as most of them have plenty of in-house HR and Payroll expertise to point them in the right direction. However, the scheme is open to all businesses, public and private sector, and you don't need to be an HR expert to see that it makes sense.

So, if you'd like to make your business a more attractive place to work by showing your staff that you really do care about how difficult their daily commute can be; and if you want to give them some help where it really matters, in their wallets, why not consider making a Workplace Parking Scheme available to your employees?

The mechanisms for running a scheme in your business could not be more straightforward. Your voucher scheme partner company will advise you on how to set up the necessary payroll systems and will help you publicise the scheme to your workforce. The rest then is just about enjoying seeing the savings for your business and your employees begin to kick in.

Author: Eoin Olivers photo

Author: Eoin Oliver

Eoin Oliver is a web designer and blogger with six years of experience writing content and designing graphics for clients large and small. For the past three years Eoin has been focused on researching and writing about the childcare voucher scheme. When not hard at work, Eoin can be found in the company of his 4-legged companion Layla.

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