Triton Construction implements EV salary sacrifice scheme with Fleet Alliance

Triton, which specialises in both private and public sector and civil engineering projects valued between £0.5m and £12 million, is an Employee Owned Trust with all of its employees having a share, and a say, in the running of the business.

Now all employees are able to take advantage of a salary sacrifice scheme that will allow them to have a brand new EV with low rates of BIK and zero emissions, along with early termination insurance built into the monthly lease rates in what is a traditionally transitory industry.

Monthly lease rates are also enhanced by a contribution from the company based on the savings it makes from a reduction in employer’s National Insurance Contributions via the scheme.

Originally, a 10-year relationship between Carmyke Leasing and Triton was based around the provision of company vehicles – the business operates around 25 cars and three vans – but with rising prices for vehicles reducing the standard and level that employees could choose, the company decided to explore a different route.

Discussions regarding salary sacrifice scheme for all staff began a number of months ago, but it was only developments around early termination insurance (ETI) that persuaded manging director, Paul Clarkson (pictured), to look at implementing the Fleet Alliance scheme.

“Because of the transitory nature of the construction industry, we traditionally have a slightly higher rate of staff turnover than other industries. By building ETI into the monthly rates, we’ve been able to offer employees peace of mind that, if they leave the business, they will not be left with a hefty bill for the remainder of the lease.

“This should encourage uptake as it was originally a stumbling block in our initial discussions with employees. We are also carrying the cost of vehicle insurance on our company fleet policy. So far, we have had one order for a new EV but confidently expect that to rise dramatically with the new measures we’ve put in place,” he said.

To further encourage participation in the scheme, Triton has also installed six EV chargers in the car park at its Liversedge head office so that employees can charge their vehicles while at work.

Michael Hooper from Carmyke Leasing said that Triton employees would be able to enjoy the benefits of the Fleet Alliance salary sacrifice scheme in full.

“As well as including all service, maintenance and breakdown costs, our scheme is a great way to offer a company car at no extra cost to the business; it encourages staff to make the timely transition to electric cars thereby helping reduce the corporate carbon footprint while helping the business meet its ESG agenda.

“The order process is simplified via Fleet Alliance’s e-Fleet software, which provides drivers with an overview of EVs in the marketplace, in addition to indicative costings.

“The provision of ETI provides complete peace of mind that employees will not be left with a large bill for unpaid rentals should they leave for any reason within the three-year rental period.

“And to keep lease rentals costs as low as possible, we competitively tender each new vehicle via a panel of up to 11 funders. This ensures employees benefit from the lowest rental rate available in the market,” he said.