88% would take up the offer of a company car

More than three-quarters (88%) of respondents would take up a company car if the option was offered by their employer, according to research by fleet management provider Lex Autolease.

Its survey of 501 employees and 249 fleet managers also revealed that 64% of employee respondents that have a company car say it is an important factor in their job decisions.

The research also found:

• 43% of fleet manager respondents say company cars are becoming more important in staff recruitment and retention.
• 11% of staff respondents would choose a cash alternative over a company car scheme.
• 72% of employee respondents say the degree of freedom to pick their own vehicle is important to them.
• 57% of staff respondents take the monetary value of a company car into account.
• 45% of staff respondents see the offer of a company car as a mark of achievement.

Tim Porter, managing director of Lex Autolease, said: “The company car has been at the heart of British working life for close to five decades.

“Now, with the UK economy showing signs of longer-term recovery and an increasingly buoyant job market, it is little wonder that 38% of the fleet managers we spoke to reported growth of their fleet over the last 12 months.

“As organisations look to bolster their chances of recruiting and retaining the best talent, the importance of a comprehensive benefits package should not be understated. Our latest research shows that a company car remains an aspirational part of this.”