Hi All,
I am looking for some guidance on how other companies have determined how employees are eligible to join a Car Salary Sacrifice scheme.
When reviewing the chosen car scheme, we opted to offer it after passing the probationary (6 months service) prior to being eligible. However the Senior Management team have asked to move this to 2 years’ service with the company.
2 years’ service before being eligible feels a long time and rules out more of our population which have already been excluded.
If you have a salary sacrifice scheme, what length of service do you use employees to be eligible to join?
Thanks for your help in advance
James
Perhaps an option may be to allow access to the scheme from day 1, but with a caveat that voluntary exit within 6 months leaves them owing the balance of remaining instalments due up to 6 months after signing up for the vehicle?
Thanks all for your information, I have managed to talk them down to 1 year and we will review once we see how the launch and take up goes.
We instigated a 1-year tenure requirement and confirmation that employee is not on any form of performance improvement plan.
We allow permanent employees to join from day 1. If someone is on a fixed term contract - it has to be for longer than the least length.