Love2shop annual leave purchase

ANNUAL LEAVE PURCHASE

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ANNUAL LEAVE PURCHASE: GIVE EMPLOYEES EXTRA FLEXIBILITY

The most sought after employee benefit, worldwide, is flexible working. Employees are placing an ever-greater emphasis on their work-life balance, and many employees are quite happy to trade in some of their salary through an annual leave purchase scheme to get a few more days off with their family.

SELL EXTRA DAYS OFF TO YOUR STAFF

If employees are stressed by the confines of their existing holiday allowance, offering them a flexible means to buy days off will improve their happiness, engagement and ultimately their productivity and retention.

It works both ways, too; some employees would be quite happy to give up some of their unused, or begrudgingly used, days off. These staff effectively want to sell their time back to the company, producing more days worked without any extra recruiting costs.

On both sides of the coin, by implementing an annual leave purchase scheme you’re demonstrating a commitment to flexible working and will be on your way to becoming an employer of choice.

IF A WORKFORCE OF 50 EMPLOYEES ALL BOUGHT FIVE EXTRA DAYS OF HOLIDAY A YEAR, YOUR ORGANISATION WOULD SAVE OVER £30,000 IN SALARY PAYMENTS AND EMPLOYER’S NI.*

HOW ANNUAL LEAVE PURCHASE SCHEMES WORK

  • Employees buy extra holiday days from their employer at a fixed percentage off their annual salary. They spread the cost over the course of the year, which offers some savings in tax and NI contributions.
  • Alternatively, employers sell their holiday allowance back to their employer for a bump in their annual salary, which is paid back as an increase.

Our system is extremely simple to use. The easy set up process and intuitive management portal gives employers total control of how much staff can buy and sell. You set the boundaries, then we take care of the rest.

DOWNLOAD THE EVERYDAY BENEFITS BROCHURE

Find out more about discount savings on everyday expenses for your employees.

Love2shop Everyday Benefits Brochure

OTHER SALARY SACRIFICE SCHEMES WE OFFER:

Cycle to
Work

Employees get healthier, happier and save money with bicycle commuting.

Car
Payments

Save on payments and service costs on environmentally friendly cars.

Salary
Sacrifice

Salary sacrifice is a fundamental element of a robust employee benefits package.

*Based on 50 employees earning £32,000 p/a. This equals £123.08 a day for individual take home pay and £6,154 per day for the whole workforce. If all sacrificed five days of their annual salary a year in exchange for time off, the company would spend £30,770 less on their wages, tax and NI payments while they were away.

GET IN TOUCH

We’d love the opportunity to tell you more. If you’d like to talk to an adviser today about giving your staff more control over their work-life balance, simply fill out the web form below or feel free to give us a call.

Please note that salary sacrifice solutions are delivered in association with   

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