HIGH performance transmission maker Xtrac is a specialist in the motor racing sector, ranging from Formula 1 and Le Mans to the British Touring Car Championship.
But it’s most recent success is a little quieter. The company has extended its range of employee benefits with an electric vehicle (EV) salary sacrifice scheme, which has been provided by fleet management specialist Fleet Alliance.
The Thatcham, Berkshire, head-quartered business has 440 staff who will be eligible for the salary sacrifice scheme.
Our employees have reacted very positively and welcome the opportunity to lease a new electric vehicle at a reasonable cost along with the simplicity of the process to access one. We see it as an excellent addition to our already extremely competitive and industry leading employee value proposition and it also supports our ESG credentials which are at the core of our business.
To promote the benefit, Xtrac uses a monthly newsletter, business communication screens, quarterly face-to-face business updates and business news articles. It has also installed 20 electric charging points at work.
Kirsty Knight: EV Salary Sacrifice Part Of Xtrac’s ESG Agenda
“We are well known for our industry-leading and award-winning apprentice scheme with our in-house academy but, with this encouragement of staff to move to low carbon vehicles, we know we are leading our industry in the ESG space.”
Fleet Alliance CEO Andy Bruce said Xtrac was a good example of the UK businesses of all sizes that were signing up to the benefits of the Fleet Alliance salary sacrifice scheme.
“Our salary sacrifice scheme is a great way to offer an electric car at no extra cost to the business, as well as encouraging staff to make the timely transition to electric cars and helping reduce the carbon footprint, while rewarding and retaining staff through more attractive benefits.
“To keep costs as low as possible, we can deliver monthly savings of hundreds of pounds for employees due to our excellent procurement processes and the fact that we competitively tender each new vehicle via a panel of up to 11 funders. This ensures our clients, and their employees benefit from the lowest rental rate available in the market,” he said.
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