Company car scheme slump mirrors economic downturn

The number of employers offering company car schemes has fallen dramatically, according to a survey by Personnel Today's sister publication Employment Review.

The benefit is now provided by just 24% of organisations - a significant reduction on last year's results, when it was provided by 55% of survey respondents.

This continues an ongoing downward trend that has seen the provision of company car schemes decline almost every year since 1999.

Mileage allowance is the most common travel-related benefit offered by employers, according to the research.

The study of 277 organisations showed that a mileage allowance - which covers individuals' expenses when they use either a company car or their own vehicle on business - is paid to some or all of their staff by almost 74% of the respondents.

For more information, see the Yardstick section online or in next week's Personnel Today (8 July), or visit XpertHR.