Why Car Allowances Don’t Make Financial Sense
As companies continue to place a higher focus on cost savings opportunities, it’s time to reshape our mindset around vehicle reimbursement. Car allowances are frequently viewed as compensation, but this is an inaccurate portrayal that could be costing you a lot more money than you think.
Our Article Uncovers:
- Why car allowances are costing both you and your employees money
- The impact they are having on employee productivity
- How to create an alternative vehicle program that is both fair and accurate
Download Why Car Allowance Is Not Compensation to learn why a FAVR program is the right vehicle program for your business and employees.
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Flexible, Scalable, and Cost-Efficient
Whether your company is growing or scaling back, our FAVR program can be easily adjusted to meet the needs of your company, while providing cost-saving opportunities.
Talent Acquisition
The days of classifying fleet vehicles as a perk are long gone. Prospective employees are now looking for reimbursement that covers the driving costs for their preferred vehicle.
Benefits to the Anywhere Worker
Manually recording mileage can be a burden on a driver’s day. It's time to improve their WorkLife with the Motus App, as it provides automated tracking to give them more time back.
About Motus
Motus is the definitive expert in mobile workforce solutions. Its platform simplifies the reimbursement and management of vehicle and device costs through personalized calculations. Powered by an unmatched pool of data, refined over more than 80 years, and updated in real time, Motus is the platform of choice for top Fortune 500 companies and organizations committed to workplace agility.
Motus automotive data, captured and analyzed across the world’s largest retained pool of drivers, also underpins the annual Internal Revenue Service (IRS) business mileage standard, the amount an individual can deduct for business vehicle expenses. For more information please visit www.motus.com or connect with us on Twitter, Facebook, Instagram or LinkedIn.
Download Why Car Allowance Is Not Compensation to learn how to create a fair, accurate, and cost-efficient vehicle program.
"Motus helps us be consistent in treating everyone equal and fair with a standard calculation for all." - Human Resource Manager
"Motus has reduced Accounting, Payroll, and Administrative costs and is very easy to manage." - Operations Manager
"Once our employees bought into it, they really like using it and the reimbursements. In turn, our organization has recognized significant cost savings while staying compliant with the IRS." - CFO at Medium Enterprise Beverage Business