- Tusker nominated for Orange Innovation Award at the National Business Awards
Car leasing firm Tusker, has today been recognised as one of the most innovative organisations in the UK. The firm, based in Watford, has been shortlisted for the prestigious Orange Innovation Award, in the eleventh annual National Business Awards.
Tusker was recognised due to its innovative salary sacrifice car scheme, SalarySacrifice4Cars (SS4C), which has dominated the UK market for the last two years. SS4C enables an employer to offer employees a cost effective way to have a new car via a monthly salary sacrifice arrangement. Traditionally, employees have been able to surrender a portion of their salary in return for childcare vouchers or private healthcare/dental care, but none have been able to do this in return for a car. SS4C enables employees to sacrifice their gross salary in exchange for a car provided by Tusker which also includes fully comprehensive motor insurance, European breakdown cover, annual road fund licence, replacement tyres, servicing and maintenance. As the scheme reduces an employee’s gross salary it allows them to take advantage of tax and National Insurance savings as well as benefitting from fleet and corporate discounts.
The Orange Innovation Award acknowledges firms which have taken extraordinary steps to develop innovation within an organisation, such as driving forward research and development in products, services or company processes. Before the winner of the award is announced in November, Tusker will give a live presentation to an expert panel of judges including Sarah Farrugia of Advocateur; Andrew Humphries of Tech City Investment organisation; James Stickland of JP Morgan Chase and Martin Stiven of Orange, part of Everything Everywhere.
David Hosking, CEO of Tusker, said: “We are thrilled to be nominated for this award. Innovation is very important to our business and has had a very positive impact on our company. Since we developed our SS4C scheme, we have become market leaders in this sector. This scheme has transformed the flexible benefits market in the UK and has now made new car ownership more widely available to employees who may never previously have qualified to receive a company car.”
Martin Stiven, Vice President of Business at Orange, part of Everything Everywhere, said: “The entries this year have really raised the bar. Tusker has shown a great ability in introducing an impactful innovation which has clearly enhanced its business. Firms like these play a crucial role in pushing the economy forward with their great ideas. Orange believes innovation is crucial for growth and the best examples should be celebrated to inspire businesses across the country.”
Shortlisting judge, Gideon Hyde, founder and Director of Market Gravity, said: “Tusker has pioneered the salary sacrifice market with a pipeline of innovative features to deliver impressive business growth.”