A government Cycle to Work scheme is available which enables employers to help their employees save between 25% and 39% on the cost of a new cycle or an electric bike.
As an employer you would have to sign up for one of the official ‘Cycle to Work’ schemes which then allows you to buy a bike for your employee to ride to work and you ‘hire’ it to them through salary sacrifice (which is where you save by not paying tax and National Insurance on the monthly fees). At the end of the ‘hire’ period, the employee is entitled to buy the bike from you at a fair market value.
There is also the option of employees providing a loan to the employee. Loan schemes would also be on an interest-free basis and may be subject to regulation by the FCA.