How to hire best talent from the 'sustainable generation': Will Voisey
For the first time in history, we have five different generations in the workforce, but attracting and retaining top talent has never been more challenging.
The last decade has seen Generation Z entering the job market, bringing with them essential skills that businesses require if they wish to remain competitive. As well as digital fluency, they are also bringing a fresh perspective and a sense of social responsibility. It is this last point which has led to them being seen as the ‘sustainable generation’, with a significant proportion expressing concern about climate change and prioritising environmentally conscious actions.
When it comes to attracting and retaining Gen Z employees, the strategies that worked for previous generations simply won’t cut it. Now, companies must demonstrate and communicate strong company values that reflect the importance of environmental sustainability and ensure those values are lived and breathed throughout the organisation to help employers stand out.
A clear ESG strategy is another important piece of the puzzle, and this is where electric vehicles (EVs) have a dual role to play. As well as supporting your sustainability drive, the opportunity to explore salary sacrifice schemes for plug-in hybrids and EVs can help your business stand out as an employer of choice.
Schemes like these allow you to offer fully electric and hybrid vehicles with less than 75g/km of CO2 to your employees. There is also a low benefit-in-kind tax, which makes this a win-win option for employees on both tax savings and sustainability.
Not everyone has the luxury of installing a car charger outside their home, which can make owning an EV tricky. However, there are ways in which you can help staff make the transition, by offering as part of a salary sacrifice scheme.
We have heard of companies going a step further and offering free charging at the office and/or, for those who can have charging points installed at home, helping them to do so.
As well as the environmental benefits that will appeal to both potential and current employees, they will also see savings. These come through lower tax and national insurance contributions as well as saving on maintenance costs, as service and maintenance packages are included in the monthly lease cost, which is deducted from the employee’s salary before tax and national insurance.
This also gives you the peace of mind as an employer that staff are travelling in modern cars that are well maintained with the latest safety features. Business owners have come to us and said that they are reluctant to offer a car salary sacrifice scheme to employees because it requires a lot of administration to set up and run.
We’ve worked hard to make sure that, this isn’t the case. For example, once the relevant parameters have been set up, our self-service automated portal will do most of the day-to-day administration for you. This allows staff to view and choose a vehicle and see net costs that are bespoke to their tax circumstances. Orders can also be placed and reviewed by a designated member of the team. Recruitment has never been straightforward, but the last few years have seen the job market become increasingly competitive. Being able to offer a strong package of benefits will not only help you attract talent but also help to keep them with you.
Will Voisey, Managing Director of Harrogate-based car and van leasing specialists, Synergy Car Leasing