Company cars are a key aspect of many executive offices, with quality vehicles being a useful way to promote the stature of a business to clients and partners alike. Whether sales staff or upper management, having access to a company car can be essential to properly doing business – but for newer businesses, company cars can quite simply seem like too much of an expense to bother with.

Of course, there are ways and means of getting one’s hands on executive-level vehicles for a cheaper price. For example, used Mercedes are not hard to come by, and more times than not they are still in good health, with reasonable mileage on them. But still, the costs involved in keeping such cars running can seem too high for little obvious benefit. However, there are a great deal of benefits a business can experience by offering company cars to staff. What are they?

Attracting Talent

One of the foremost benefits to starting a company car scheme relates not to your existing employees, but your potential future ones. Company cars are a valued perk by job hunters, and – in a climate where jobseekers are more aware of their worth than ever – may form a central part of their own criteria when looking for a position.

As such, offering a company car scheme can help you widen your candidate pool for filling future roles. Not only this, but your quality of candidate is likely to improve, too.

Alleviating Worries

We are living in difficult times, with a cost-of-living crisis entering its second year and household budgets stunted all around. Between rising energy bills, fuel costs and grocery bills, your staff might be feeling the pinch. Offering a company car scheme with fuel expenses included can afford staff the opportunity to minimise their own overheads, and alleviate financial concerns as a result.

Transforming Commutes

On a wider level, though, offering a company car allows your staff to completely transform their commute. Those that could not afford a car to begin with might have been reliant on expensive and unreliable public transport services. By starting a company car scheme, you can allow staff better control over their commute – and improve attendance in the same breath.

Improving Job Satisfaction

Altogether, these factors can have an overwhelmingly positive impact on employee happiness and job satisfaction. The importance of these elements should be self-evident to many businesses, but it is easy to forget exactly how impactful these can be to essential business metrics.

A recent study by the University of Warwick discovered that happiness is a key factor in productivity, with the finding that happiness increased productivity by 12% in laboratory tests. While the results may be different experientially, this nonetheless demonstrates a clear link between valuing employees and receiving value in return. Offering a company car is a simple enough perk, but it can have profound impacts on employees’ lives in different ways – and improve the quality of their work as a result.