While purchasing and leasing company cars may have been a perk of the past, it is no longer considered a primary incentive in recruiting and retaining talented employees. In recent years, many top Companies have transitioned from company provided vehicles to auto allowances or reimbursements.
EMC offers a comprehensive assessment tool Systematic Analysis of Vehicle Expenditures (SAVE) for company’s to better understand the total costs of operating a fleet vehicle. Our tool examines the projected costs as well as those that may be hidden. Hidden costs can impact a company significantly and unknowingly influence decisions that are not be inline with business and financial objectives.
Companies should consider the following factors when reexamining the use of company cars:
- Costs and financial objectives
- Personal use policy
- Personal use charge back policy
- Risk assessment
- Perk factor
- SAVE tool grade
