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WASHINGTON - The new rates for business, medical, and moving purposes are slightly lower than last year's, reflecting generally lower transportation costs compared to a year ago.
Read More →SALINAS, CA - Under the newly approved rule, only those whose work necessitates the use of a car will have access to county-owned vehicles.
Read More →CAPE CORAL, FL - In efforts to cut spending, City Council members may eliminate the city's take-home car program for non-sworn employees.
Read More →INVERNESS, FL - Using underutilized vehicles would replace the current practice of paying employees reimbursement fees for personal vehicles.
Read More →Executive fleet programs are highly valued by management and many corporations, yet some companies are moving away from executive vehicle fleets. Here are opinions from both sides of the debate.
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Score one for our side! Recently, a Fortune 100 company gave (very) serious consideration to eliminating its company-provided vehicle fleet program and switching to driver reimbursement. Initially driving this initiative was senior management’s desire to cut cost by removing the vehicle assets from the books. The option to move to an operating lease was not viable since it violated the company’s accounting policies set by finance.
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The competition for talented and experienced executives can be brutal, but a compensation package that includes a company vehicle can provide an edge. Some companies prefer reimbursement. Here are the pros and cons.
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Reimbursement doesn’t work from an HR or safety & liability perspective, is counter-productive to corporate ‘green’ initiatives, can negatively impact the company image, and FAVR reimbursement programs may not be SOX-compliant.
Read More →Although in-house management of an executive fleet is extremely time-consuming, reimbursement is a less cost-effective alternative. I argue that, in general, a company-administered executive vehicle fleet is a better choice than reimbursement.
Read More →If employees are your greatest asset, why treat them unfairly with a driver reimbursement program? I have yet to hear of a company that reimburses at a rate that fully compensates drivers for the actual cost of operating a vehicle, especially in this era of escalating fuel prices.
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