Firms offering cash alternative to company cars

Over
half of all companies now offer eligible employees the choice between a company
car or cash allowance according to a new survey.

The
latest research from Watson Wyatt shows that 57 per cent of firms offer staff a
cash alternative to a company car.

The
figures, taken from a survey of 700 UK companies, show a rise of 11 per cent
from 2000 and 19 per cent in 1998.

The
change has been matched by a sharp decrease in the number of employers offering
company cars only, with only 28 per cent giving no cash alternative compared to
54 per cent in 2000 and 70 per cent in 1998.

The
number of employers offering a cash allowance only is also growing – up from 12
per cent in 2000 to 15 per cent in the latest survey.

www.watsonwyatt.com

By Ross Wigham

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