The truth is that a car can be a non-issue; while the right car can be a statement of success and more.
There might be people close to you mentioning that you should drive a fancy or exotic car to inspire your employees. The truth is that an employee might see an immensely expensive car and wonder about their current salary being lower than it should be. There is always going to be that employee that might talk negatively about a nice car as they feel like they should be paid more. Regardless of whether employees are paid above industry standards, there is always that employee that feels like they should be paid like an executive after a few months at a company.
Employees shouldn’t be jealous of the personal success that the owner of a business has generated for themselves. There are people that are innately jealous while a company that really takes care of their employees will reduce this griping.
Robert Thomas, the man who founded the e-commerce company Tappocity thinks differently. He believes that it is important to impress investors as startups need cash influxes. An investor might not have confidence if a founder looks like they are struggling on a personal level. Thomas has always been fond of Jaguars and truly believes that you should treat yourself via the fruits of your hard work.
A public relations executive leaves his luxury car at home as he doesn’t want to put a large number of miles on it daily. There is a practical approach to this, as saving money using a hybrid will be important and avoiding depreciation of a luxury vehicle is another important factor of this.
This executive has stated that a number of his friends with executive roles tend to keep their luxury cars at home during the day. This is to keep mileage down but it is also in an effort to avoid alienating employees. An entry-level employee that wants a small raise being told the company cannot afford it while management shows up in Ferraris can create resentment among staff.
Pragmatics Works owner Brian Knight uses technology to make his decision on which car he will take to the office. The IT consulting company owner makes sure he can communicate with staff or clients seamlessly in his Ford Flex. CEOs and owners of companies want to make the most out of their commutes as this can make up for hours of work they would have had to do at home.
Pros and Cons of Owning a Luxury or Exotic Car for Your Career
The right car can speak volumes about you in industries where image matters. Certain industries like that of digital marketing are full of people that could care less what staff thinks about them due to most working remotely. Those in the finance industry like stockbrokers might not instill confidence if they are driving a beaten-down Toyota Tercel. People want those managing their money to have wealth themselves.
The pros of having a luxury car and driving it to the office can be the inspiration of employees. Those in the sales department could find motivation in seeing what you can achieve through closing deals daily. There are going to be jealous employees but those that use it as motivation are the highest of quality. Employees you want in the office are those that work for what they want instead of complaining about what others have.
The negative aspects of driving a car that is immensely expensive can outweigh the positives. Complaining about budgets then putting an exotic car on lease with company funds is contradictory. Taking car of employees is paramount if you are going to flaunt wealth in front of them. A natural reaction is to become jealous or resentful towards management especially if a small raise was denied recently.
The truth is that the days of having to impress everyone with opulence are over. Some of the largest companies in the world have CEOs like Bill Gates that drive simple cars. There are so many CEOs and owners of companies that are unassuming; which can play to their advantage. A person pulling up in a Prius might generate more trust than someone pulling up in a Maserati. You have to gauge the importance of perception in your industry as this changes by business niche. A digital marketing professional might see a fancy car as over the top while a person in finance would think of it as a good investment in their reputation. Take the time to think about what image you want to broadcast to clients and current staff!