As economic conditions improve, employee benefits may be on the rise. Many companies have expanded their worksite offerings to include vehicle-related benefits, according to a recent survey conducted by WorldatWork.
The report found that 89 percent of organizations offered some form of automobile benefits to their staff. Most popular amongst vehicle-related compensation is fuel or mileage reimbursement, which is offered by 72 percent of the companies surveyed.
Other institutions – 65 percent – make a car allowance available to their workers, while 53 percent of the businesses polled stated they offered company-owned cars for employee use. While these benfits are not typically available company-wide, they are at least offered to some staff members, according to the source.
Auto benefits have increased overall since the onset of the economic downturn in 2008. In that year, 78 percent of businesses stated they would make cuts in driver-friendly benefits in order to curb costs. In 2011, only 13 percent of the companies polled reported that they would make cuts to auto-benefits this year, organization officials explained.
Some companies have eliminated such worksite benefits in recent years, prompted in large part by the economic downturn. However, those companies that offered company vehicles to executives only also cited negative employee feedback as an additional reason why the stopped the benefit, the source reports.
