The Holidayplus scheme, part of the City Council's employee benefits programme, run in association with employee benefits provider P&MM, allows employees to buy additional annual leave whilst making savings of up to 41% on NI and Tax.
The employer also makes savings on the NI contributions, which in turn reduces the overall annual salary bill. Director of HR & and transformation Angela Probert (pictured) said: "With the UK public sector facing substantial financial cuts, we need to try to reduce costs where possible, creating as little detrimental impact on our employees and customers as possible."
"Holidayplus is the perfect example of an innovative solution, which not only supports our efforts to reduce outgoings, but importantly, offers a positive benefit to our colleagues. It has been well received by colleagues and we hope to make more savings in this way in the future."
The savings of £153,714 were made as a result of 261 Nottingham City Council employees opting in to the scheme during March 2011.
