Average annual investment on business vehicle programs was 0.52% of revenue, travel & expense programs was 0.89% of revenue, and relocation programs was 0.10% of revenue.
WATERFORD, WIS. – Runzheimer International released its 9th Annual Benchmarking Report. The Report provides benchmarking data for business vehicle, travel & expense, and relocation programs. Understanding how these programs are changing to create growth and competitive advantage is a major reason for this research. Data from the Report shows that high-growth companies have a greater concentration of mobile workers-those who drive, travel or relocate for business. The results illustrate that mobility programs and investments are a key ingredient for growth.
Key findings of the survey include:
- Business Vehicle Program spending continues to grow. Average annual direct spend per driver increased above survey results from the past five years.
- Seventy-eight percent (78%) of companies surveyed provide cost of living allowance for their Relocation Programs.
- Companies see benefit & efficiencies gained from an outsourced vehicle program—FAVR reimbursement programs experience spend levels that, on average, are 26% lower than those organizations with Fleet programs.
- Less than half of participants reported having an automated expense reporting process, indicating significant efficiency opportunities.
- Average annual investment on business vehicle programs was 0.52% of revenue, travel & expense programs was 0.89% of revenue, and relocation programs was 0.10% of revenue.
The Benchmarking Report, in its ninth edition, is published by Runzheimer International, the global leader in mobility services programs. It covers areas including Business Vehicles, Business Travel & Expense, and Domestic Relocation. Runzheimer defines mobility services as programs, technology and services for those who drive or travel as a key part of their job.
“We’re excited to share this data with companies to help them understand how their programs compare to those of their peers, as well as recognize areas for improvement and efficiencies that can impact their bottom line,” said Donna Koppensteiner, Senior Vice President of Business Development at Runzheimer International. “The findings from this report demonstrate the opportunity for companies to assess their policies, processes, and investments to make sure they are positioned for success. This benchmarking report provides companies the unique opportunity to measure their business vehicle, travel & expense, and relocation programs all in one place.”
The Runzheimer International Benchmarking Report provides valuable insights on employee mobility and how organizations manage a mobile workforce.
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She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
