Chemical Company Differentiates Their Business & Rewards Employees with CarData Vehicle Reimbursement Plan
Vehicle Choice & Equity Leveraged as Recruiting & Retention Incentives
For the sales engineers of a national chemical company, onsite customer visits look different from what you might think of as a traditional sales call. “We have ‘blue collar’ sales engineers,” says the Chief Sales Officer. “Many of our people wear steel toe boots and hardhats and need to get to hard-to-access customer sites to oversee and manage the application of our products.” The company’s sales engineers travel 22,000 miles per year, to make sure that the chemicals the company has provided are meeting customer requirements.
FAVR Meets Enterprise & Employee Needs
In the past, they offered a traditional company car program. The CSO wanted to differentiate the company and distinguish his people’s engineering sales role with a vehicle reimbursement program. “I wanted to help us stand out from competitors by giving our team more choice. By offering more flexibility in terms of the type of vehicle, I’d be responding to what my employees told me they wanted.” He adds that another part of his strategy was to implement a program that would allow employees to be fairly compensated by the company and enable drivers to apply the equity remaining in the vehicle toward their next vehicle at the end of the reimbursement program term (in this case 5 years). “In a few cycles, they could end up with a vehicle that the company essentially paid for, and that way put the money into our employees’ pockets instead of giving it to a fleet leasing company,” he explains. “The employees got choice and equity, the company got a cost-neutral program, and a reduction in liability and risk.”
The Chief Sales Officer has been using CarData’s FAVR (Fixed and Variable Rate) solution for several years, transitioning drivers in “waves” as the lease terms expired in their legacy company car program.
Today, CarData and the company enjoy a long-term relationship built on very responsive service, seamless monthly transactions, drastic reduction in administration work and the impression that “We can’t imagine how CarData could do it better than it has been done.”
CarData’s FAVR program has given the company a tool to attract and retain high-quality sales engineers because, as the CSO sums up: “It’s truly been win-win.”
About CarData Consultants CarData provides precision vehicle reimbursement programs for the mobile workforce. CarData services save money, reduce risk, and remove administration. CarData programs are compliant with the IRS and the CRA procedures.
MEDIA Contact: Megan Dean
Marketing & Sales Specialist | CarData Consultants Inc.
Direct: 303-434-3307 | FAX: 929-235-7525