Sustainability is also becoming an important issue for consumers, employees and businesses. Many companies see bicycle leasing as a quick win for their sustainability score. Furthermore, the fact that bicycle leasing is completely budget-neutral is also winning over many employers. So in this article, we will talk about bicycle leasing as a fringe benefit, on top of the many other advantages it offers your company.
Discover all about bicycle leasing in the white paper ‘Bicycle leasing: budget neutral & sustainable’.
What are fringe benefits?
Fringe benefits are supplements to your employees’ wage that are outside the normal form of remuneration. These fringe benefits are advantageous tax-wise because you often pay less taxes on them. The main and most popular fringe benefits in Belgium are:
- Meal vouchers and eco vouchers
- Company cars
- Benefits in kind (company car, laptop, mobile phone)
- Insurance (group insurance, hospitalisation insurance)
- Profit premium
- Supplementary child allowance
- Expense allowance
Which fringe benefit is chosen most often in Belgium?
As a HR manager or employer, you obviously want to know which fringe benefits are the most popular. Because there is of course a reason why certain benefits are chosen over others in Belgium. Often, these fringe benefits are interesting from a tax perspective for your employees, and also for you as an employer.
Here in Belgium, company cars are a frequently chosen fringe benefit alongside meal vouchers.
1. Company vehicles as a popular fringe benefit
Company cars are one of the most frequently chosen fringe benefits. Not surprisingly, as they are a lot cheaper than a financial promotion and they are highly coveted by employees.
A lease bicycle not only offers many advantages for our experienced employees, but a lease bicycle is also often a hit among our new and younger profiles. Offering bicycle leasing is gradually becoming more interesting than a company car for many people. Nokia – Joris Preckler
The company car is a widely chosen option, but has come under increasing flak in recent years. The rise of electric and hybrid cars negates the criticism that company cars have a polluting impact on the environment, but there are other arguments that increasingly call company cars into question. Think about the growing congestion problem and limited parking spaces at companies.
This is why more and more companies are opting to offer company bicycles via bicycle leasing, in addition to company cars. Moreover, bicycle leasing not only provides an interesting fringe benefit, it also offers various other advantages for both companies and employees.
2. Bicycle leasing: sustainable & budget-neutral alternative
Bicycle leasing is a popular fringe benefit in Belgium. That’s because it’s not only an interesting method of optimising salaries in a way that is advantageous tax-wise, thereby creating an attractive salary package. It is also completely budget-neutral and contributes to companies’ sustainability score; it is a form of sustainable business, so to speak. Moreover, it is an additional asset in the war on talent and ensures employee retention.
Download the white paper: bicycle leasing, sustainable & budget neutral
Are you considering bicycle leasing as a fringe benefit? Would you like to know more about the why’s and wherefore’s of bicycle leasing? Then definitely download the white paper ‘Bicycle leasing: sustainable and budget-neutral‘. In this guide you will find:
- How bicycle leasing works.
- Why companies choose bicycle leasing.
- How bicycle leasing can be budget-neutral.
- What the benefits are for your employees.
- How o2o Bicycle Leasing takes away the hassle for HR throughout the bicycle leasing processl.
Download the whitepaper
Benefits of bicycle leasing for your business
1. A budget-neutral fringe benefit
Unlike leasing company cars, bicycle leasing is completely budget-neutral. This means that your employee gets a benefit, while the wage cost for you as an employer remains unchanged. Interesting, right? Want to know more about Why bicycle leasing is advantageous tax-wise for employers? Then definitely read our blog.
2. Keep your employees healthy and happy
Cycling not only has a positive impact on mood, it also boosts the immune system. This daily dose of exercise also makes you really happy, as endorphins are released while cycling. So investing in bicycle leasing is also investing in happy and healthy employees. And we haven’t even mentioned the traffic jam stress you take away from your employees! Want to discover even more benefits of cycling to work? Discover them in our blog!
We don’t just jump on trends, but bicycle leasing is particularly interesting because the benefit is twofold. On the one hand, there is the tax benefit, meaning that bicycle leasing is an indispensable pillar in the cafeteria plan. On the other hand, there is the health aspect, because it encourages your employees to exercise more. ConXion – Hanne Vermès
3. Contribute to sustainability and climate objectives
Sustainability is a hot topic and is becoming more and more important for both customers and employees. Through bicycle leasing, you as a company are contributing to sustainable mobility, which counts towards your green image! Moreover, bicycle leasing is a quick win in the ESG reporting too. This is because making commuting more sustainable through bicycle leasing helps improve your CO2 emissions as a company.
Want to find out all you need to know about bicycle leasing as a fringe benefit? In the whitepaper ‘Bicycle leasing: budget-neutral and sustainable‘, you will find out all about it. Download the whitepaper today.
4. For both blue-collar and white-collar employees
Bicycle leasing is possible for any employee. That means you can offer this fringe benefit to both white-collar and blue-collar employees. You can also choose to allow only people with certain statuses access to bicycle leasing.
5. Save on car and parking costs
Do most of your employees cycle to work? Then you won’t need to invest any further money in more parking spaces, for example! Moreover, costs you incur for cycling infrastructure, such as bicycle racks or charging points, are 100% tax-deductible!
6. Make another win in the war on talent
Talent is scarce and, as an employer, you naturally want to attract as many skilled profiles as possible. Unique and attractive fringe benefits can be very persuasive in the war on talent and can count towards employer branding.
Bicycle leasing is a valuable way to build a better relationship with your employees, it is also a tool to attract new talent and it is a sustainable mobility solution. Agristo – Brecht Vermeersch
7. Employee retention
Bicycle leasing plays an important role in employee retention. After all, bicycle leasing binds your employees to you for several years. Because a lease contract is concluded for at least 36 months, you can be almost certain that your employees will stay for three years. As such, you can hang onto talent for longer!
Conclusion: bicycle leasing a strategic move
Bicycle leasing is not only one of the most chosen fringe benefits in Belgium, but also a strategic move for employers. It is not only a budget-neutral package that embraces sustainability, but also an asset in the ‘war on talent’. By offering bicycle leasing, you not only invest in the health and satisfaction of your team, but also strengthen talent retention.
Want to know more about this versatile fringe benefit? Be sure to read the whitepaper ‘Bicycle leasing: budget-neutral and sustainable‘, and find out all about it. Download the whitepaper today.