The study found that HR managers surveyed recognise that more employees cycling to work benefit their organisation, with almost half (48%) saying that employee cycling would give them healthier employees and lead to fewer sick days.
The research claims that 49% say it would help towards meeting their environmental targets.
A lack of employee demand, cited by 39% of HR managers surveyed was the most commonly perceived barrier to setting up a cycle initiative - despite a third of employees saying they would cycle into work if the right incentives were in place.
Pharmaceutical company, GlaxoSmithKline (GSK), introduced a cycling strategy across its business and reduced single car occupancy from 81% to 56% in five years. Its strategy includes secure cycle parking, fully equipped shower, changing and drying facilities, and a range of incentives such as 'bike miles' which allow employees to collect financial rewards each time they cycle in.
Sue Pictor, director, global real estate, GSK said: "Our facilities and incentives have enabled us to encourage more and more employees to cycle in, having a positive impact on the local road infrastructure, the wellbeing of employees and, of course, the environment."
Geoff Mulgan, chief executive of Nesta, said: "The research shows that many people would be keen to give cycling a go."
The online survey of 2156 employees was conducted in October 2012 and contained 507 senior HR managers.