Apr 8, 2024
When managing a busy executive's schedule, you should consider many factors when deciding whether to select a chauffeur service or a rideshare to handle their car service needs. Below are some points on ROI, safety, confidentiality, availability, and service to help you evaluate the best decision for your company's executive travel.
Return on Investment (ROI)
While choosing a budget-friendly ride may seem like the most obvious way to save the company money, cutting costs on car service may lead to an overall loss. According to Reuters, the average S&P 500 CEO's annual compensation package is $16.7 million per year – meaning that every minute a CEO waits costs their company an average of $133.80. The typical waiting period for a rideshare service is 8 minutes, potentially leading to a decrease in productivity that could cost the company close to $1100. While black car service is more expensive than rideshare at face value, the opportunity cost of waiting far exceeds the price difference between the two services.
Confidentiality
As mentioned above, an executive's time is valuable and costly, so every minute must be maximized. Phone calls and on-the-go meetings are commonplace in the world of a high-powered executive. However, conversations in the car consistently involve discussing sensitive company information in front of their driver – what if the topic includes insight that can impact the company's stock or include personnel changes? Now that rideshare drivers can record conversations, executives might become cautious about discussing matters inside the vehicle. Discretion is more common among black car services, with some companies going the extra mile to require the chauffeurs they partner with to sign confidentiality agreements ensuring a secure mobile workspace.
Availability
A critical distinction between rideshare and black car services lies in scheduling: rideshare is typically on-demand, whereas black car service requires advance booking. Rideshare services are an ideal option for executives with flexible schedules who can allow for additional time buffers. While booking a rideshare in advance is possible, doing so still carries the risk of delays due to competing demands that may affect your pickup time. In contrast, professional black car services emphasize their commitment to timely pickups for pre-scheduled rides, ensuring a more reliable service.
Service
When you opt for a chauffeured car service, you're investing in the expertise of a professional. Some black car service networks, like Savoya, set themselves apart by rigorously vetting their chauffeur network and providing them with training best practices so that they can surpass traditional service standards, greatly enhancing the passenger experience. On the other hand, the quality of service provided by rideshare options varies significantly from one vehicle to the next, often failing to meet executive standards. Moreover, rideshare services cannot guarantee the experience level of their drivers, potentially leaving you in the hands of someone with subpar driving skills or a tendency to be distracted, possibly preoccupied with securing their next fare rather than concentrating on the current ride. This inconsistency can impede the executive's productivity in the vehicle, as a stable and professional environment is crucial for work efficiency during transit.
Safety
No matter which black car service you choose, you'll be in the hands of professional chauffeurs known for their higher safety and service levels compared to rideshare service drivers. Chauffeurs typically have more comprehensive insurance coverage and possess longer driving experience. Some black car service providers exclusively work with thoroughly screened chauffeurs, making it a preferred option for executives and safety-conscious passengers. In stark contrast, a report published by a well-known rideshare company recorded a total of 3,824 sexual assault incidents during 2019 and 2020. Black car services also enforce vehicle restrictions to enhance safety, limiting the age and mileage of the cars in their fleet to maintain a superior safety standard, while rideshare services generally allow any vehicle that meets basic legal standards to join their network.
Although many factors are in play when considering executive passengers' needs, black car service comes ahead of rideshare service for those prioritizing time, service, and reliability. If you are searching for a partner to fulfill your black car service needs, Savoya has you covered with a global market of over 300 service areas. Fill out the form below to discover how we make managing black car service easy!
