- CEOs were most likely to receive a gas card/allowance/expense to offset their mileage, compared to other employee groups surveyed.
- Among the six employee groups surveyed, Field Service Staff were more likely to receive a company car than a car allowance.
TORONTO, Jan. 19 /CNW/ - Towers Watson Data Services, a wholly-owned subsidiary of Towers Watson, today announced the release of its 2009/2010 Canadian Survey Report on Car Policies & Practices.
The report, which provides valuable insight into how to determine the scope and competitiveness of your organization's car policy programs as compared to those offered by other Canadian organizations, includes the responses of 72 unique organizations.
Comprehensive car policy and practice data are reported separately across six employee groups, including CEO; Executives; Non-Sales Management, excluding Executives; Sales Management, excluding Executives; Direct Sales Personnel and Field Service Staff.
The following elements are reported on:
- Make-up of company car policy (e.g., company car, car allowance, gas
expense, mileage, etc.)
- Vehicle allocation and common criteria for allocation
- Running/maintenance costs covered
- Trade-up/trade-down policies
- Vehicle replacement period and vehicle termination practices
- Cash allowance values
- Items included in cash allowances (e.g., maintenance, insurance)
- Mileage and gas reimbursement
- Recent and planned modifications to current car policies and
practices, and reasons for the change
- Environmental initiatives
The following are highlights gleaned from the report:
More than two-thirds of respondents (70.4 percent) indicated that they had reviewed their car policy programs in the past 12 months. Less than one-half of respondents (47.2 percent) are considering making changes in the next 12 months.
CEOs are most likely to receive a status or luxury car, as reported by 72 percent of respondents. Non-executive employees are most likely to receive a car based on their job requirements or needs only.
CEOs were most likely to receive a cash allowance while Field Service Staff were least likely, as reported by 69.4 percent and 33.3 percent of respondents respectively. The average monthly cash allowance paid to CEOs was more than twice that paid to Field Service Staff, at $1,182 and $515 respectively.
More than 60 percent of respondents indicated that all employee groups included in this survey receive reimbursements on a 'per item' basis each month, without limits. The items covered most often by reimbursement across all employee groups include parking, toll fees, and gas.
Among the respondents, 77.9 percent have not introduced any "green" initiatives to their car policy programs.
The 2009/2010 Canadian Survey Report on Car Policies & Practices is available online, or as an online/printed report set.
About Towers Watson Data Services
Towers Watson Data Services (TWDS) is a leading provider of compensation, benefits and employment practices information to the global employer community. From offices around the world we solicit, analyze and publish an extensive library of online, printed and interactive survey reports. Our compensation databases are recognized worldwide as the most reliable source of current data for compensation planning.
Covering 97 countries across six continents, our data centers in the U.S., Canada, Europe, Asia and Latin America annually compile reports on the remuneration, benefits and employment practices of local and multinational companies. Our "in-country" experts apply their local knowledge of the varied employment markets, practices and customs to deliver a complete compensation picture that can be used to create sound, market-based pay programs for entire organizations. Our international databases contain compensation information covering millions of employees based on the annual survey participation of organizations ranging from emerging growth companies to many of the world's largest conglomerates.
In addition to compensation surveys, TWDS publishes references that help HR practitioners attract, retain and reward exceptional employees. These guides cover a wide variety of subject areas, including variable pay, performance management and personnel policies on a local, regional and global basis.
SOURCE TOWERS WATSON DATA SERVICES
For further information: For further information: Cherie Langevin, Towers Watson Data Services, Tel: (416) 813-4428, E-mail: Cherie.Langevin@towerswatson.com