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Bosses 'not giving up their perks' (From Business in Dorset)
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Bosses 'not giving up their perks'
7:10am Friday 3rd July 2009
Almost half of bosses in the South West have yet to cut back on their business expenses and benefits, according to a survey by Lloyds TSB Autolease, the fleet management firm.
It found that 46 per cent of South West company directors to be polled by Lloyds TSB Autolease admitted to taking no action to reduce their personal business costs and benefits.
“In a climate of heavily scrutinised expenses, employee expenses and benefits have become a major talking point with directors, employees and businesses now needing to reduce their costs,” said Claudia Rose, corporate sales director at Lloyds TSB Autolease.
“But if one thing can be taken from the survey, it’s that there are potentially enormous business savings to be made on personal expenses and benefits such as business travel and company cars.
“Now is the opportunity to act.”
She added: “Pay and rewards are under the spotlight and while many directors are reluctant to give up their favourite status symbol, company cars are one of the single largest and easily addressed business costs.
“For example, boardroom favourites like BMW and Audi have taken giant leaps forward on running costs, with some of the most fuel and tax efficient vehicles around.
“The message is – directors don’t have to make the sacrifices they think they do. It’s just about making sensible and responsible choices, which reflect well on you and your business.”
The survey also found that only one per cent of South West bosses have taken a cheaper company car in an effort to reduce their business expenditure and set an example to staff further down the ranks.
