Cyclescheme Employer: What is the difference between this process and the standard process?
The main change with this new process is simply how employees authenticate their identity and receive their Certificate. We have listed below how elements of the process differ from one another;
| Standard process | Sign and Collect process |
| Employees sign one agreement, their Hire Agreement (this agreement is between the employer and the employee). This is signed at the point of application, before employer approval. | The Salary Sacrifice Agreement and Hire Agreement will now be individual documents. The employee will sign their Salary Sacrifice Agreement at the point of application (this agreement is between the employer and the employee). The Hire Agreement (this Agreement is between Cyclescheme and the employee) is populated at the point of redemption. |
| An email is sent to employees confirming their Certificate has been Issued, within the email is a downloadable link to their Certificate. | When a Certificate is available to the employee, they will use 2-factor authentication (email and SMS) to confirm their identity and initiate the 'Sign and Collect' process. The process requires the employee to confirm which retailer they are shopping with and the exact goods being obtained. Upon completion of this process, their Certificate is ready to download. |
| Employees redeem their Certificate at their chosen retailer, either online or in-store and the redemption is complete instantly. | Once employees have visited their chosen store or shopped online and redeemed their Certificate, their Hire Agreement (this Agreement is between Cyclescheme and the employee) is populated and they are required to sign it online to complete the redemption process. |
| Employers commence salary sacrifice at their discretion. | We will email you (the employer) on a weekly basis to confirm when an employees salary sacrifice can commence. Under this new process, employers will receive improved reporting which details exactly what employees are obtaining via the scheme. |