Drive in greater savings on vehicle costs
An employee has a business trip. She drives her car to the airport and leaves it there. Then you pay those parking charges. You may not have to.
Even if you require employees to keep their cars in long-term parking, those costs still add up.
And it’s a situation you may be able to avoid completely.
This company did. It hit upon a clever way to avoid paying for time when cars were sitting parked with no one using them.
The company approached a local rental car business and explained its travel needs.
On an as-needed basis
Then it asked whether their company could lease cars on an as-needed basis. This wasn’t a standard policy for the rental car company, but because the plan was well-thought out, it agreed.
From then on, whenever an employee needed a car to get to the airport, the agency rented one to them as a one-way rental. Then they took it back as a one-way rental — without having to pay for any days when employees were away.
The company isn’t locked into anything long-term. But it did lower its travel expenses.
No matter how many business travelers you have, it probably couldn’t hurt to see if you could work out a similar arrangement.
Free Training & Resources
White Papers
Provided by UJET
Further Reading
Here’s a common rollover scenario: An individual leaves one employer for another. The previous employer offered a 401(k) plan. The...
Meetings are bad enough. Introduce anything that can derail meetings, and they can be torturous. How can we be so sure? One researcher f...
Digitizing A/P is still very much on the minds of your peers, who are prioritizing control of cash flow over business growth as organizatio...
If a poll of attendees of a recent IOFM webinar is any indication, it’s going to be a very busy Form 1099 reporting season in 2024 fo...
CFOs hate to hear about poor financial literacy among workers, especially the folks they count as friends. The latest economic news on that...
Because of the American Rescue Plan of 2021, more companies and gig workers will be receiving Form 1099-K, Payment Card and Third Party Net...