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5 reasons to reward your employees with a Novated Lease and benefit your business

Tuesday, 1st August 2017

Reward your employees

If you’re in a position that requires you to make hiring decisions, you may know how difficult it can be to not only find good employees, but reward the valuable ones you already have!

While offering some sort of financial reward is one attempt to retain your valuable employees, sometimes your monetary capacity simply does not allow for this – that’s where a Novated Lease option comes in.

A Novated Lease can be an excellent way to reward your employees, benefiting your business in return. To give you more scope on how a Novated Lease can give you a competitive advantage, we’ve put together 5 ways your business can benefit by offering Novated Lease options to reward your employees.

5 benefits of using Novated Lease options to reward your employees

1. Give your staff a pay-rise without increasing your costs
A Novated Lease allows your employee to purchase the car of their choice and all associated operating costs with their pre-tax income, greatly increasing their take home pay. This means you can reward your employees by giving them the pay rise they deserve without actually increasing your financial outlay. 

2. Become employer of choice
Adding a Novated Lease option to your salary package gives you a point of difference when it comes to salary offerings. It can help you stand out from your business competitors and potentially attract talent you may have missed out on before.

3. Increase staff retention, engagement and satisfaction
Studies show that if an employee feels valued, rewarded, and recognised, they are more likely to stay with your company, be productive, and remain satisfied in their employment. A Novated Lease allows you to reward your employees financially and remove stress generally associated with normal vehicle financing, leaving your staff feeling rewarded and motivated. 

4. Novated Lease options for partners and children as well
What many people don’t know about Novated Lease options is that partners and children of your employees are also entitle to purchase their car with a Novated Lease. This means that while your direct employee may not be interested in a Novated Lease, their partner or child can benefit thanks to their employment with you!

5. Offer better benefits to your staff
The only way an employee can purchase a car on Novated Lease is through salary packaging. Therefore, without your support they are unable to reap the benefits of a Novated Lease. Novated Leases can be used for new and second-hand vehicles. Adding to this, a Novated Lease offers:

  • Tax free operating costs,
  • Pre-tax savings on lease payments;
  • No upfront costs;
  • Unbeatable savings on the vehicle compared to other forms of finance, including cash purchases; and
  • Everything car related managed by the Novated Lease supplier at no cost to you!

How can I offer a Novated Lease to my employees?
If you’d like to reward your employees and positively enhance your business, or would simply like to talk through how a Novated Lease works, give LeaseMasters a call directly on 1300 303 357.

LeaseMasters has worked with hundreds of companies just like yours, helping them to reward their employees by giving them the pay rise they deserve.
Call us on 1300 303 357 or MAKE AN ONLINE ENQUIRY and we will be in touch with you at a time that suits.

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