The full detail:
- The employee commits to paying their employer £10 per week (£520 for the year) and pay BikeAway Ltd £250 (fully refundable deposit) for the use of a new E-Bike. The employer will pay BikeAway Ltd £250 (as a fully refundable deposit on E-Warrior) and £866.67 plus VAT (£1040 inc VAT) for the annual rent for both the E-Bike and the E-Warrior.
- BikeAway installs a new E-Warrior locker with Solar Panel and battery charging reservoir at the employers premises (sunny position, ideally). The employee will select either a female frame or male frame 26inch or 28inch Volt Pulse e-bike which will be supplied along with charging transformer.
- The employee (or employer) will need to take responsibility for the E-Bike by arranging and paying for insurance and undertaking to have the bike serviced in accordance with the manufacturer’s instructions at a Volt dealership workshop.
- The cycle to work scheme can be discontinued by returning the E-Bike (following an annual service) together with the E-Warrior (for which BikeAway will charge £100 to collect) and BikeAway will refund both of the £250 deposits providing there is no damage to either the E-Bike or E-Warrior.
- Or: the scheme continues with the employer paying another £866.67 + VAT for the 2nd years lease on the E-bike and E-Warrior. The insurance and servicing of the E-Bike must be continued and the employee will continue to pay the employer £10 per week.
- The cycle to work scheme can be discontinued and the E-Bike, having had a second annual service, can be returned along with the E-Warrior (BikeAway will charge £100 to collect) and BikeAway will refund both of the £250 deposits if there is no damage to either the E-Bike or E-Warrior (acceptable wear and tear will be at the discretion of BikeAway Ltd).
- Or: as year 2, the scheme will continue.
End of year 3:
The choice of either returning the E-Bike and E-Warrior to BikeAway and having the 2x £250 deposits refunded (providing the E-Bike has had a third annual service and there is no major damage to either the E-Bike or E-Warrior – again this is at the discretion of BikeAway Ltd) or the employee and employer choose to keep the E-Bike and E-Warrior and in return forfeit both £250 deposits as final payment to BikeAway
- If the E-Warrior and E-Bike are kept by the employee/employer, the employer has the option of BikeAway continuing to manage the E-Warrior, if they wish.
- BikeAway will charge a reduced rent of £5 per week to the cyclist which will cover the admin and our continued to maintenance of the E-Locker AND pay £130 per year back to Employer.
- As the E-Warrior is powder coated Galvanised Steel and will last at least 35 years, this will give a return of up to 200% on the employers initial investment.
Benefits for the employer:
It is a great deal for the employer they will actually pay £8.33 a week once the VAT has been deducted. For this they will have a healthier, happier and more reliable member for their team. Cycling back and forth from work each day will increase the employees heart rate and oxygen into their blood, keeping them far healthier than using a car or sitting on a bus or train. It is well documented that exercise improves working output, with many companies using wake and shake or other exercise in the morning to help motivate their staff – cycling to work means they will be doing this in their own time. With morning exercise, productivity in the first 3 hours of the day can increase by up to 20%. For an employee paid living wage, this could equate to increased productivity worth £26 per week which is only costing the employer £8.33.
To be successful, it is important that the employee ‘buys into’ the Cycle to Work scheme rather than the employer fully financing it – and employee is much more likely to use the e-bike regularly if they are paying towards it. Everyone wins; the cyclist has become fitter, healthier and happier – and has saved money by not using a car or public transport; it has been profitable for the employer; and the environmental benefit of commuting on a solar powered E-Bike producing no CO2 is the icing on the cake.