Company wont do cycle to work scheme

Nijinsky

About 2 years ago I went all out to persuade my company to do the cycle to work scheme. They were on board! It was all going through then out of nowhere they decided against it last minute.

The reason stated was that the majority of our employees are paid weekly, and if someone was to leave after getting their bike the couldn't recoup the money from their wages.

Annoying for me and the rest of the office staff who are paid monthly!

Would this be the case? I'm thinking about pushing for it again but need a better argument it seems.

Thanks

markhewitt1978

C2W isn't a great deal anyway, tbh I'd leave it and get a bike for yourself!

slowbike

markhewitt1978 wrote:

C2W isn't a great deal anyway, tbh I'd leave it and get a bike for yourself!

Seems to me that C2W is great if you want discount on the latest model or you haven't saved up the cash to buy the bike in one go.
IMHO you can save as much if not more by shopping carefully and a slightly older model - plus you get the benefit of full ownership from day one - meaning you don't have to worry about what happens if you leave your job whilst in the C2W scheme...

markhewitt1978

Slowbike wrote:

IMHO you can save as much if not more by shopping carefully and a slightly older model - plus you get the benefit of full ownership from day one - meaning you don't have to worry about what happens if you leave your job whilst in the C2W scheme...

I have learned, perhaps admittedly the hard way, that there isn't really anything intrinsically better about a new model bike. I have a 2011 year Scott CR1 frame - which was designed years before that and I run 6700 which was released in 2009. A bike bought today would be no better.

It's actually not a bad time to buy, manufacturers are gearing (!) up to release their 2015 models, so if you're prepared to suffer the indignity of only having 10 speed 105 instead of 11 speed, you could get a bargain.

The Rookie

Nijinsky wrote:

The reason stated was that the majority of our employees are paid weekly, and if someone was to leave after getting their bike the couldn't recoup the money from their wages.

They must pay really badly if they can't get £1K (absolute max) out of 4 weeks wages!

slowbike

The Rookie wrote:

Nijinsky wrote:

The reason stated was that the majority of our employees are paid weekly, and if someone was to leave after getting their bike the couldn't recoup the money from their wages.

They must pay really badly if they can't get £1K (absolute max) out of 4 weeks wages!

weekly paid often means weekly notice ... or for some ppl they don't bother giving notice at all and just don't turn up one day.

Nijinsky

Slowbike wrote:

The Rookie wrote:

Nijinsky wrote:

The reason stated was that the majority of our employees are paid weekly, and if someone was to leave after getting their bike the couldn't recoup the money from their wages.

They must pay really badly if they can't get £1K (absolute max) out of 4 weeks wages!

weekly paid often means weekly notice ... or for some ppl they don't bother giving notice at all and just don't turn up one day.

yeh exactly that.

I've been mountain biking for a few years, the past few months I've had road tyres on it and have been doing a lot of road cycling. quite enjoying it so think its time to take a plunge

markhewitt1978

Slowbike wrote:

weekly paid often means weekly notice ... or for some ppl they don't bother giving notice at all and just don't turn up one day.

I work in an office which has sales department and that often happens. I'm on a months notice but other staff such as our desktop engineer i.e. the guy who keeps all the computers, network and phone system running, is on a weeks notice with nobody else here who could do his job!

tangled_metal

If getting the upfront money is an issue then buy from a bigger retailer that offers interest free purchase. It's a loan so I guess you need a reasonable credit rating. I know one that used to offer it on different terms from 6 months to 3 years. Throw in end of year or last year discount and you can get a good deal.
I think wheelbase in Staveley does this credit I think.
You know it does say something about how your company trusts and treats it's employees if it offers the scheme. They don't have to and if they do it's like they're investing in you. They're helping you save a bit on a bike, save money on commuting and get exercise too. The employees get health benefits and I guess the company gets something too. However if weekly employees take advantage and leave without working notice or they have a turnover of weekly employees then you can understand why they backed out.
I'd just buy outright and hunt for a good deal. Perhaps on interest free basis if available.

mrfpb

Edinburgh Bike Co-op are having a 15% off weekend this Friday to Monday so most bikes will be 15% reduced, including new bikes. Anything already reduced will be further reduced by 15%. They offer 12 months interest free credit even on sale items (10% deposit up front). That's how I got my new bike (Genesis CdF 2014) two months ago. They are very helpful on the phone if you need to discuss accessories like racks, mudguards, lights etc. and will put any extras on the bike before delivery - or call you if they don't fit on the bike, like they did with my SKS mudguards.

I don't like C2W for several reasons. I'm not sure I want to stay with my employer for a year or iif they might let staff go; I don't want to pay full price for the bike and second hand value of the bike at the end of the scheme; C2W would reduce my pension contributions and final salary if I left during the scheme; it would interfere with my tax credits in an unspecified way which I probably wouldn't find out until the following year.

C2W would save 32% with 25% for buy bike after one year plus the above complications. Saving of 7%.
15% off and interest free is what it says it is.