Under the scheme, which Sodexho has called Motor-vation, the company's drivers will enter into a credit agreement that effectively transfers ownership of the car to the drivers, therefore avoiding company car tax, while still retaining the traditional benefits of a company car.
The scheme was devised with supplier Godfrey Davis (Contract Hire), the business-to-business division of Bank of Scotland Vehicle Management, and will be rolled out to Sodexho's 900 company car drivers.
Sodexho executives are able to gain access to fleet data and management reports through GDCH's GDinteractive web-based fleet management programme and day-to-day control of the fleet is the responsibility of GDCH.
Gary Palmer, Sodexho human resources director, said: 'The dual purpose of this plan is to bring financial benefits to both employee and employer, while ensuring that there is no reduction in terms of the management control we have over the fleet. We have succeeded on both counts and the financial benefits, shared between the company and its car-driving employees, are substantial at between £1 million and £1.2 million. In terms of fleet control, it is business as usual.'