More employers are recognising the importance of company cars and giving drivers more choice.
The latest Company Car Trends Survey by GE Capital Fleet Services revealed nearly half (42%) of fleet managers recognise the importance of company cars as a key recruitment and retention tool, compared to just one in three (33%) in the first quarter of 2010.
The report also showed a bigger increase in the number of employers offering drivers more flexibility over choosing a company car. Some 40% of fleet managers now offer drivers a choice of manufacturer, compared to under a third (31%) in the first quarter of 2010.
More employers also now consider the employee’s position when deciding who is eligible for a company car, with 59% now using this as a basis for their decision, compared to 56% three months ago.
The cost of running a fleet remains the most important issue for fleet managers, with 82% citing costs a key consideration in running their business.
Gary Killeen, UK commercial leader at GE Capital Fleet Services, said: “Fleet managers are increasingly considering the views of their drivers and giving them more flexibility over the choice of their company car.
“This is a positive move as it is important company car driver opinion is not put to one side even as companies seek to refocus their long-term business goals.
“What is most important is a healthy balance between factors such as keeping costs under control and maintaining driver satisfaction, and offering drivers a wide range of cars is not particularly effective from a cost angle.
“While it is vital to recognise the company car is a useful tool in attracting and retaining staff, the cost savings of restricted policies need not be given up.
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“Properly constructed policies, which take into account different driver requirements across two or three manufacturers, can still deliver a very attractive employee benefit.”
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