Using cars as business incentives
A smart motivation and incentive strategy is the key to a smooth running business. You probably already know that the right kind of business incentives will secure you the best employees, encourage them to stay there, increase the likelihood of meeting your goals, encourage better relationships with your clients and overall improve your success rate. The company car is without doubt a staple in the average motivational package, alongside bonuses and company phones. You may already offer a company car. If not, then you should – a recent study showed that 60% of company car drivers said they would not only move to a different job if it offered a similar value car.
Are you thinking of introducing a company car scheme for your workers? Perhaps you are thinking of presenting a car lease as the occasional corporate gift. If this is the case then read on.
Use a company car as a sales incentive.
You need to meet certain figures and targets each sales period. In order to achieve this, you need your sales team to work hard. One surefire way to make this happen is to entice your employees with a sales incentive. What better incentive to work hard than a 12 month or 2 year car lease? Not as lavish as a car and a more affordable option, a company car will encourage any employee to work harder and longer. An impressive and comfortable car is also a must for any sales representative, by introducing company cars as a sales incentive you can impress clients and motivate employees at the same time.
Car leasing is a great all-round gift and incentive.
As well as encouraging sales, a car lease works well when intended to recognize a valued employee, perhaps on their birthday, or thank a long-standing customer. If it seems like an inappropriate or lavish gift, a shorter 1 or 3 month lease on a luxurious vehicle would be a smart alternative.
Company cars are a great alternative to pay rises.
So, you’ve just been offered a promotion. Alongside this, you have the option of a pay raise or a company car. Sometimes, especially if you already own a car, the pay rise can seem like the wiser option. After all, you could spend it on whatever you want. Make sure to do your research to calculate which option would be more financially beneficial. More often than not however, the company car is the better deal. Bear in mind that what seems like an impressive pay rise when presented as a large chunk sum, does not seem as much when subject to income tax and spread over 12 monthly payments. Furthermore, if you are already the owner of a car you will receive a nice cash sum from selling your current car. All in all, the company car is a great, hassle-free deal.