But this is at odds with the view of Philip Jerome, new business development manager for Zenith Vehicle Contracts. He says that, while the arrival of personal contract purchasing agreements offered flexibility in the way vehicles were financed, the provision of a company car was still a crucial factor in winning employee loyalty. And recruitment agency Reed Personnel Services is showing its support for this view in providing its 250 drivers with a cash allowance for a benchmark car supplied by BCH Vehicle Management.
In Gissings' survey, the perk with the most appeal was a company pension, chosen by 97% of staff, followed by extra holiday (78%), life assurance (37%), private medical insurance (30%) and permanent health insurance/earnings insurance (30%). The company car came next with 22% of the votes.
Philip Jerome - whose company Zenith is exhibiting at The Employee Benefits Exhibition and Conference at the Royal Horticultural Hall, London, on September 22/23 - says: 'There are more company cars on the road than ever before. We are, however, beginning to see a change in the way employers fund their employees' car provision, although employees by and large still expect their employer to arrange their car provision for them.'