What are the Benefits of Company Cars?

The company car is a symbol of many things: of trust, of professionalism, and of plenty, to name but three. Company cars can be vital additions to a business’ portfolio, both tangentially as assets and primarily for your employees. For those new to business ownership and the concept, company cars are bought or leased by a business in order to provide employees with private and personal transport; these are considered perks for employees, but also serve valuable purposes for the conduction of their responsibilities. Buying or leasing a fleet can be expensive, though – so what are the benefits of doing so?

Recruitment

One of the more obvious primary benefits associated with incorporating a company car scheme relates to the hiring of staff. Recruitment is a difficult, and often expensive, business; there are considerable costs attached to advertising for candidates, to allocating staff for interviewing candidates, and to onboarding successful applicants.

Receiving quality applications from the outset is the primary aim, as doing so not only makes the business stronger but can also reduce recruitment process costs. Offering a company car scheme as a perk of the job will incentivise more and better applicants, strengthening your business’ position.

Retention

Keeping a company car scheme in place can also be vital for improving your company’s long-term position. Recruitment is only one aspect of the staffing equation, where staff churn can also be a destructive influence on business longevity.

Offering a company car programme will disincentivise existing employees from seeking greener pastures, and demonstrate to your staff that you have their wellbeing in mind. The result is a happier staff cohort that stays longer, upskilling your business and allowing you stability.

Reputation

It is impossible to talk about company car schemes without also acknowledging reputation. When staff use a vehicle, to visit partners or clients, or even to attend industry events – and whether or not the vehicle is emblazoned with your logo – they are representing your company.

This representation, and the impression it leaves on others, is crucial. Company car programmes enable you to control the narrative, so to speak; even a fleet of used BMW cars can be enough to demonstrate an executive professionalism, and secure a positive company reputation simply from first impressions.

Convenience

Finally, and perhaps most obviously of all, company cars are a highly convenient perk to offer employees, and can greatly improve their contributions to your business as a result. Different staff members will have different personal needs, whether they are caring for relatives, raising a family of their own, or even simply managing an otherwise costly or difficult commute to and from work. Providing a vehicle can allow them to meet these needs better and less stressfully, with positive impacts on productivity and quality of work.