Challenge

Crowdcube, a rapidly growing company, initially approached Husky because they required assistance with their pension administration, as they didn’t have the necessary expertise in-house. Husky took over this responsibility, and as Crowdcube began to appreciate the benefits of outsourcing these services, they also recognised the advantages of having Husky manage their payroll, rather than handling it internally. At the same time, Crowdcube was eager to enhance employee benefits and identify areas for potential cost savings. One key area of interest was the implementation of a Salary Exchange scheme, which could provide significant financial advantages for both the company and its employees. Recognising Husky’s expertise in managing Salary Exchange programmes, Crowdcube entrusted them with this initiative as well.

This smooth transition is a clear example of how clients can grow with Husky, by gradually incorporating more of their services to optimise business operations, save time and money.

Solution 

Husky worked closely with Crowdcube to design and implement a Salary Exchange scheme that aligned with their business objectives. The scheme allowed employees to exchange a portion of their salary for non-cash benefits, such as increased pension contributions, while also providing substantial National Insurance (NI) savings for the company.

Key Outcomes

• Employee Financial Benefit: By using the Salary Exchange scheme, Crowdcube enabled its employees to increase in disposable income and retirement savings was a significant incentive for employees, enhancing their overall financial wellbeing.

• Company Savings: The implementation of the Salary Exchange scheme resulted in Crowdcube reinvesting the savings into the business, furthering its growth and supporting the entrepreneurial ventures that Crowdcube is passionate about.

• Crowdcube streamlined its payroll processes:
  • Husky seamlessly integrated with Crowdcube’s pension schemes and HR software, automating payroll workflows.
  • Payrolls were drafted, approved, and submitted to HMRC through an easy online process.
  • Employees accessed payslips and payroll documents via a user-friendly app. It’s the same app they are using for pensions and SE
  • Management features were accessible through a dedicated employer portal, streamlining payroll and pension management.
  • Automated onboarding for new joiners and distributed reports online.
  • Ongoing email and phone support ensured smooth operations.

Conclusion

The partnership between Crowdcube and Husky to implement a Salary Exchange scheme has proven to be highly beneficial for both parties. Crowdcube has been able to provide its employees with enhanced financial benefits while achieving substantial cost savings. This case study highlights the potential of Salary Exchange schemes to not only improve employee satisfaction and financial security but also to contribute to a company’s overall financial health.

Husky’s expertise in managing Salary Exchange schemes played a crucial role in realising these benefits, reinforcing the value of strategic financial planning in achieving business objectives.

Calculate your company’s and employees’ savings with Salary Exchange.

Your company and employees can save thousands each year. These significant savings can cover Husky’s fees, creating a win-win situation for everyone involved. Access our calculator here.