Women overtake men in company car race

Women now value a company car more highly than do their male counterparts, even ranking it more highly than a pension scheme in relation to other company benefits.

This startling turnaround is highlighted in the respected Bank of Scotland Drivers’ Report 2007/8 and is, according to the Bank, indicative of women becoming more independent and with a ‘live-now’ attitude.

Asked to rate the importance of the company car against other business benefits, women put it in joint first place alongside a generous holiday allowance – outscoring not only a company pension, but profit sharing/bonus schemes, flexi-time working and even healthcare.

Men, on the other hand, put their pension scheme as their most important consideration, with the car second.

But overall, the car is still a key driver for employees, making it a major factor when it comes to attracting and retaining the right employees.

“Drivers cite the convenience factor as an important benefit of a company car and we’re now finding an increasing number of employees who had previously opted for a cash allowance, returning to a company car,” said Sean Bingham, Director of New Business at Bank of Scotland Vehicle Finance.

The 2007 Company Car Drivers’ Report from Bank of Scotland Vehicle Finance is seen as a reliable monitor of what company car drivers think and feel and so has been an essential reference tool for fleet policy management since it was first produced in 2002.