Building contractor Triton Construction has deployed an EV salary sacrifice scheme in a move to reduce its carbon footprint and help its 70 employee-owners go electric.

Triton has also installed six EV chargers at its Liversedge head office to support EV take-up

The new scheme is run by Carmyke Leasing, an appointed representative of Fleet Alliance, and builds on the two firms’ 10-year relationship over the provision of company vehicles.

Triton operates around 25 cars and three vans on lease but was seeing rising prices for vehicles reduce the standard and level that employees could choose.

The company is an employee-owned trust, with all of its employees having a share and a say in the running of the business, and the arrival of salary sacrifice opens up vehicle choice.

The new scheme provides all employees with access to brand-new EVs with low rates of Benefit-in-Kind tax and zero emissions, along with early termination insurance (ETI) built into the monthly lease rates.

It was the latter that proved a crucial motivation for the business to implement salary sacrifice.

Managing director Paul Clarkson explained: “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.

The new scheme means employees are able to enjoy the benefits of the Fleet Alliance salary sacrifice solution in full. Fleet Alliance keeps lease rentals costs as low as possible by competitively tendering each new vehicle via a panel of up to 11 funders.

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

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: “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.”