More choice over company cars
UK companies are offering employees increasing choice in the make and model of the company car they drive, according to research by consultants Watson Wyatt.
Watson Wyatt's UK Compensation Report 2003 shows that only 10% of sales executives and 11% of field service engineers now have no choice over make and model of the company car they drive, compared with 16% and 18% a year ago.
Elaine Devonshire, a consultant at Watson Wyatt, explains: "The trend is clearly towards more choice. As the range of cars available, in terms of body styles, equipment and engine types has expanded in recent years, employers have allowed their company car drivers more freedom of choice over the vehicle most suitable for their individual needs."
"And the choice is not just over what car employees drive but also in whether they can take a cash allowance instead to purchase or hire a car independently of their employer."
Key survey results
Want to know more?
Title: UK Compensation Report 2003, Watson Wyatt.
Availability: Reports are available from Elaine Devonshire, tel: +44 1737 241144, or email: firstname.lastname@example.org, price £850.
Watson Wyatt is a global consulting firm "focusing on human capital and financial management". It specialises in employee benefits, human capital strategies, and insurance and financial services. Watson Wyatt has more than 6,200 associates in 89 offices around the world. To find out more visit www.watsonwyatt.com
Posted 8 September 2003