When most people think about benefits packages at work, what typically comes to mind are things like healthcare programmes, financial stipends, or wellbeing incentives. For Stephen, one benefit he uses on a daily basis comes on four wheels.
Rapid7’s electric vehicle scheme was rolled out in late 2023 for Belfast employees. The programme enables employees to lease an electric car via their employer and pay for it on a salary sacrifice basis, offering substantial tax and national insurance savings.
“I kept reading about the program and thinking - is it really this simple? What’s the catch?” said Stephen Gallagher, a Lead Product Manager who received his new electric BMW this past May. “The more I learned about the process and understood what that pre-tax payment would be vs. paying for a vehicle on my own, it was really a no brainer.”
The unique offering also contributes to the company’s sustainability goals by making electric vehicles more accessible, thanks to the pre-tax salary sacrifice. “I’ve worked for some other big tech companies in Belfast, but I’ve never seen this as a company offering. It definitely gives me a great sense of pride to work for Rapid7, and I feel motivated to do well for a company that takes care of employees in such a unique way.”
“The program provides employees with make and model options based on different salary levels to ensure the monthly payment is reasonable. Once an employee enrolls and selects a vehicle, our vendor sources it and coordinates delivery. Employees don’t pay anything until the vehicle is delivered.” Says Karen Hendry, Senior Benefits Manager. “I’ve watched employees go through the process, and I’m excited to have just taken ownership of a car myself through the programme!”
In addition to a competitive monthly payment, the program also eliminates the need for down payments, dealer fees, maintenance, or separate insurance fees as the offering is all inclusive. Stephen shared more on his recent experience by adding “I recently got a scratch on the car, so it’s been in the shop to get repaired. All I had to do was reach out to our vendor, and they got me in touch with a repair shop and coordinated everything for me”.
“As a benefits team, we are always evaluating our offerings and looking for ways to bring value to our employees through unique programmes. It’s exciting to see something new like this take off successfully in Belfast”
Learn more about Rapid7 in Belfast here.
Source: Rapid7
Source Link: https://blog.rapid7.com/2024/10/16/test-driving-a-new-benefit-programme-in-belfast/