A take-home vehicle policy has become increasingly popular over the years. Keeping vehicles out of company parking lots or garages can save businesses and their employees’ money and time.
But how do businesses accomplish this successfully? Using telematics can be the key to improving efficiency in your fleet by including a take-home vehicle policy.
When a GPS tracking telematics system is in place, it allows employers to track business vehicles no matter where they are on the road. By monitoring their vehicle locations, companies have the flexibility to let their employees take the vehicles home overnight.
Allowing employees to clock in and out from home can reduce:
- Unnecessary mileage
- Vehicle wear and tear
- Fuel costs
- Carbon footprint
In addition to industry-specific advantages, there are many ways companies can enhance their performance by providing staff individual responsibility for their vehicles.
1. Responding to Emergency Calls
Before considering whether a take-home vehicle policy is good for your business, think about how you can make the most of it. Take-home policies may be a huge help to your operations and overall customer satisfaction if your service responds to after-hours or emergency calls.
Response time is often decreased as well as overtime costs. By letting employees relax at home while on call, you can significantly reduce their hours in the office.
2. Affordable Advertising
If your fleet of cars, vans, or trucks display your company’s information, you’ll have a distinct edge in terms of advertising. Allowing your employees to park on the street in front of their house or in their driveway serves as a billboard for your business.
3. Improve Vehicle Maintenance
Not only do fleet take-home policies increase vehicle longevity, but they also significantly lower their maintenance costs.
For 8 years, Tacoma, Washington, and its outside consulting firm, Mercury Associates, assessed thirty take-home vehicles compared with thirty-four shared vehicles. The results were astounding! This study discovered that take-home vehicles lasted up to three times longer and repair costs were reduced by over 83%.
4. Reduce Personal Use in Combination with a Take-Home Vehicle Policy
In the past, there have been many concerns about using a take-home vehicle policy. When entrusted with a company vehicle that doesn’t have a telematics system, employees might use their cars and trucks for personal use. When vehicles are used outside of work, it results in a serious disadvantage by straining budgets.
But with fleet GPS tracking, companies can feel secure knowing where their vehicles are at all times. This fosters trust with employees and allows the take-home vehicle policy to be permitted without charging fees.
Tracking driver behavior, mileage, and the health of a vehicle can help to facilitate good practices and proper vehicle use. With Fleetistics telematics systems, you can collect the data that is crucial to your bottom line and decide if a take-home vehicle policy is right for you.
Not only Take-Home Vehicle Policy but also an Increase in Company Profits
If you are looking to reduce your expenses and increase your return on investment, Fleetistics telematics systems can do exactly that!
Once your management team can track vehicle routes, locations, mileage, and other valuable information, you’re well on your way to boosting your fleet’s profitability.
Field service companies have a high cost of fuel and with gas prices skyrocketing, that’s bad news for your ROI. Fuel efficiency depends on how well your drivers behave. Bad habits can cost you large amounts of money.
- Aggressive driving
- Sitting idle
When businesses use telematics data, not only does the management team receive a warning, but so can the driver using our driver feedback features. This gives them the opportunity to immediately correct their behavior and saves you gas and frequent employee turnover.
Prevention is Key
Everyone knows that engine trouble typically begins as a small problem. When it goes unnoticed, it evolves into a bigger and more expensive issue.
In the event of any engine trouble, Fleetistics telematics can notify you so that you can take action right away. By comparing current performance to prior data, these systems can determine if the engine is struggling.
Receiving early notice that your vehicle needs maintenance can save you thousands of dollars in repair costs.
Not only that, but when your employees know you can monitor their driving behavior, they also drive more carefully, which prevents unnecessary damage to your vehicle. Whether they avoid accidents, flat tires, or excessive wear and tear, you save in the end.
One direct way you will save is on your insurance premiums. When your employees have clean driving records, your premiums will be cheaper. Your insurance provider may even reward you with reduced premiums just for implementing telematics!
You will have complete visibility into the use of each vehicle in your fleet once you have telematics data collected. By analyzing the data, you can cut operating costs and improve your workflow.
When you invest in GPS tracking and telematics, you can plan your operations precisely, easily implement a take-home vehicle policy, foster safer driving practices, and increase company profit.
Stay tuned for the next part of our series about the benefits of GPS tracking!
In case you have not seen the previous parts, here they are: