Vehicle Salary Packaging, Employee Benefits and the War on Talent

It is fair to say the last 18 months in business have thrown up some challenges, retaining staff through a global pandemic is possibly the least anticipated challenge given the grim outlook that was presented to businesses a year or so ago.
The war on talent is being waged across a variety of sectors around Australia as businesses compete to attract, retain and reward staff. Head hunting has well and truly returned and interestingly it’s not just at an executive level. With unemployment rates decreasing to 5.1% as per the recent announcement by the Federal Government, this will continue to occur if not increase.

Employers are needing to provide as many employee benefits as possible; a recent survey found that flexibility, discount schemes and novated leasing are key attraction items for employees when looking at changing employers.

By offering a Salary Packaging and Novated Leasing program, SME employers can now offer a “no cost” to business program that has traditionally only been on offer to Government and large corporate entities. By utilising the Positive program, employers will now be able to help attract talent from larger organisations where these benefit types are seen as commonplace.

On average employees utilising the Positive program save $81 net per fortnight plus ongoing savings of GST both running cost and initial purchase price of their vehicle. When attracting talent this amount would equate to an initial offer that is approximately $3,500 – $4,000 higher for business to offer to draw level with large employer offerings. This does not even take into account the need to offer a higher salary for the employee to consider switching.

Schedule a meeting with the team at Positive Salary Packaging to see how our programs can offer a great net remuneration and without costing you business and get on the front foot this financial year.