Pictured above is Paul Clarkson, the managing director of Triton Construction, who has just implemented a Fleet Alliance EV salary sacrifice scheme
TRITON Construction is cementing the implementation of an EV salary sacrifice scheme through Carmyke Leasing, a Fleet Alliance Appointed Representative (AR).
The West Yorkshire-based building contractor wanted to reduce its carbon footprint and widen choice for its 70 employee-owners.
Triton Construction, which specialises in civil engineering projects, is an Employee Owned Trust with all of its employees having a share, and a say, in the running of the business.
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.
Early Termination Insurance key to making Triton salary sacrifice scheme work
Triton says that 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 its managing director, Paul Clarkson, 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.
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.
Carmyke Leasing’s Michael Hooper (left) 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,” commented the Fleet Alliance AR.
“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.
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Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
