We’ve been working with our client for many years, however, the scheme put in place originally was quite restrictive as it was only available to long serving employees and senior management.
The drivers eligible for a company car were driving demonstrators leaving a large population of employees unable to access a car benefit. Changing this approach and allowing more employees to gain access to and enjoy the scheme delivered two strong business objectives. The first was rewarding current employees with an enhanced benefit, this equally ensured new talent could be recruited with an attractive car benefit. The second objective was to ensure the business had a pipeline of planned prime used car stock.
Taking control of employee benefits and used car forecourt
The first major change made by the company, was the removal of the two year qualification period, instead employees now have to complete their probation period of three months to be eligible for a car benefit. Also, the car scheme is now available to every employee.
Employees can select from an optimised choice lists that includes all manufacturer brands within the group. We work with the dealer group to review the extensive choice list on a quarterly basis looking at SIV reports, current live fleet and which cars are forecasted to be the most profitable used cars.
The benefits of the new car scheme
All employees now have access to a brand-new car, which is a great addition to the retention package. This is enhanced further by the business providing a monetary contribution towards the running costs of the car, how much is dependent on the job role.
For our customer, the new set-up provided an additional channel for new car registrations and a steady stream of high-quality used car stock, both of which are key benefits to a franchised dealer.
A blended solution
Within their employee population, our customer has a variety of solutions for providing cars to employees, as there isn’t one size that fits all for any company. We worked with the dealer to determine solutions for different driver categories, making it a blended solution.
Our customer is happy that they have been able to expand their scheme to all their employees and in return they are seeing multiple benefits for the business, including an increase in employee engagement and retention.
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