SMEs lead take-up of Ogilvie’s salary sacrifice solution
Demand from small and medium-sized businesses has driven Ogilvie Fleet’s salary sacrifice car solution in its first 12 months of availability.
A total of 15 Ogilvie Fleet customers have to date signed up to MiSalarySacrifice, and a further 12 organisations are in the process of signing up.
Traditionally, car salary sacrifice schemes have been targeted at major employers. However, while Ogilvie Fleet is targeting organisations with more than 1,000 employees, head of salary sacrifice Richard Jessop said there was “a real appetite” for the solution from the SME (small and medium-sized enterprise) community.
Ogilvie Fleet, which has almost 14,000 leased cars and vans in its fleet and a further 1,600 on fleet management, launched MiSalarySacrifice to meet demand for a flexible product.
Clients, said Jessop, have been attracted to MiSalarySacrifice because it removed employer risks typically associated with similar products by offering as standard benefits including; early termination protection from employee resignation and redundancy, and payment protection in the event of long-term employee leave.
“We find that SMEs want to offer a complete flexible benefits package to help them retain and attract the best employees,” Jessop explained.
“Historically some businesses have been put off introducing a salary sacrifice car scheme because of the potential costs to them arising from an employee leaving the business or going on maternity leave but with MiSalarySacrifice those risks are removed.
“SME businesses are run very lean and they are often concerned with the level of resource required for such schemes, but we ensure that any administrative burden is ours and not the clients. As with all Ogilvie Fleet products, our approach is to be honest, clear and transparent with no hidden costs.”