Soaring numbers of employers are investing in cycle storage facilities according to workplace equipment supplier Slingsby, following the huge boom in cycling over the last 12 months which is boosted further by Britain’s successes in the Olympics and Tour De France, and the trend could also be helping to increase employee productivity according to a new study.
Research in Aviva’s Health of the Workplace 2012 report reveals that after introducing health related benefits, including bikes for work schemes, 89% of employers saw productivity increase, 88% felt employees were more motivated and 83% experienced reduced sickness absence.
In 2012 the Government’s Cycle to Work scheme saw a 7.9% increase in take-up compared to 2011. The scheme makes it possible for employees to save money on bikes and related safety accessories by making them completely tax deductible.
Employees effectively ‘hire’ a bike from their employer by paying monthly instalments that are taken from their salary before tax. The hire agreement usually lasts for between 12 and 18 months and then the employee buys the bike for a percentage of its original cost price.
Lee Wright, Marketing Director at Slingsby, which supplies more than 35,000 products across all industries, said: “Recently cycling has become hugely popular with the success of British cyclists in the Olympics and Tour De France helping to put the sport in the spotlight. In addition rising fuel prices, improved cycle networks and the nation’s desire to stay healthy all make cycling even more appealing. As a result there are thousands more bikes on our roads.
“The Cycle to Work initiative is also continuing to have a positive impact on the numbers of people cycling to work. Since the scheme launched in 1999 we have seen orders for cycle storage equipment continually growing year on year.”