A recent GE Capital Fleet Services survey indicates businesses that provide company cars are more likely to retain employees than those that reimburse personal vehicle usage for work purposes. Notably, 87% of current company car users and 63% of personal vehicle users would not consider another company if it did not offer a company vehicle, according to the survey.

The GE Capital Fleet Services survey polled drivers who were divided between companies that provide company vehicles and companies that require drivers to use personal vehicles. Sixty-four percent of company vehicle users said their ability to drive company vehicles while on the job made them less likely to want leave their current role. Conversely, 61% felt that their lack of access to company vehicles would make them more likely to leave their current job.

Nearly all company car users surveyed (97%) stated that they prefer using a company vehicle provided either individually or via a shared pool. Far fewer personal vehicle users prefer using their vehicle for work (just 29%) with 64% stating that they would prefer their employer provided a vehicle for business use.