10 benefits that you can ask for
- Paid time off. Paid time off, or PTO, is a benefit that grants you compensation for personal time off. ...
- Commuter benefits. ...
- Insurance plans. ...
- Flexible hours and work from home. ...
- Professional development opportunities. ...
- Student loan repayment. ...
- Health and wellness benefits. ...
- Parental benefits. ...
- Retirement and pension perks. ...
- Signing bonuses and incentives. ...
What are the benefits to ask for in a job?
Here are 10 benefits to ask for in a job: Paid time off, or PTO, is a benefit that grants you compensation for personal time off. Many employers offer two weeks of paid vacation, and some propose unlimited time off. Others might expect you to work on a holiday. In that case, you can ask them if they offer extra pay or not.
What questions should I ask about my benefits plan?
In general, there are employee benefits questions you should ask about to ensure that your overall compensation plan is right for you and for your family. Also, ask specific questions based on your needs and on the criteria that are important to you. Does the employee pay for health insurance coverage?
How do you discuss benefits with a potential employer?
Wait until you have a job offer to discuss employee benefits, either with human resources or the person who is offering you the job. Next, take some time to review the benefit plans so you can make an educated decision based on the benefits information provided by your prospective employer. Review the benefits offered.
When is the best time to ask about benefits?
For all other companies who don’t bring benefits up, the best time to discuss them is after an offer is made to you. At this point, you hold the most power, and it doesn’t seem assumptive of you to ask about benefits.
What to ask for in benefits?
Questions to Ask About Employee BenefitsDoes the company offer health insurance?Will it cover members or my family as well as myself? ... How much of the premium costs do I have to pay for myself? ... Can I choose different levels of coverage? ... What kind of coverage is there for dental, vision and disability insurance?More items...
What benefits should I ask for at work?
To help guide you, here's an overview of 15 common employee perks and benefits you might come across as you look for your next job:Health Insurance. ... Dental and Vision Insurance. ... Flexible Spending Account. ... Life Insurance. ... Disability Insurance. ... 401(k)s. ... Paid Time Off. ... Family and Medical Leave.More items...
What other benefits can I negotiate?
Once you understand the employer's package options, examples of benefits you can potentially negotiate include:Stock options.Hiring/signing bonuses.Vacation time.Personal days and sick leave.Parental leave.Tuition reimbursement.Student loan repayment.Child care reimbursement.More items...•
What benefits do people want most?
Most Desirable Benefits According to EmployeesTotal WorkforceBaby BoomersHealth Insurance56%67%401(k) Match56%71%Paid Time Off33%24%Flexible Work Hours21%15%4 more rows•Feb 8, 2019
What are the 4 major types of employee benefits?
There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans. Below, we've loosely categorized these types of employee benefits and given a basic definition of each.
How do I ask for better benefits?
How to ask for more benefits and sweeten a job offerKnow the going rate. ... Ask for flexibility. ... Take advantage of growth opportunities. ... Negotiate for the title you deserve. ... Ask for more vacation time.
How do I negotiate a better benefit package?
5 Tips to Negotiate Your Compensation PackageDon't Be Afraid to Ask. Here's a simple tenet but one you should never forget: It never hurts to ask. ... Think Outside of the Paycheck Box. ... Get a Better Title. ... Seek Out Learning Opportunities. ... Get Everything in Writing. ... Make Compromises Between You and Your Career.
What should I ask for instead of salary?
11 Benefits You Should Negotiate Other Than SalaryProfessional development. ... Phone allowance. ... Transportation reimbursement. ... Your title. ... Vacation time. ... Work from home/remote. ... Childcare reimbursement. ... Educational opportunities.More items...•
Which perks are worth giving up a higher salary?
So, if there's no room in the budget for a higher salary, be ready to negotiate these other great perks and benefits.A big signing bonus. ... Training opportunities. ... A flexible work schedule. ... Relocation assistance. ... Smaller perks.
What are the top 3 most sought after employee benefits?
Paid time off, flexibility/remote working options and paid family leave are the top non-insurance benefits employees want, according to a new survey of 1,500 U.S. workers by benefits provider Unum.
Do employees want 2022 benefits?
According to a survey conducted by Ramsey Solutions, the top 10 benefits currently offered include:Health insurance.Paid time off (PTO)Retirement savings plans.Life insurance.Dental insurance.Vision insurance.Health and wellness programs.Disability insurance.More items...•
What benefits do employees value most UK?
Top Benefits that UK Employees Want the MostFlexible working. When it comes to the benefits employees want, flexible working is one of the most popular. ... Employee Life Insurance. ... Digital healthcare. ... Group Income Protection. ... Mindfulness apps.
What are the benefits of a new hire package?
But a new hire package typically comes with other benefits woven in—many of which are up for negotiation, as well. Paid time off, parental leave, commuter benefits, professional development opportunities, tuition reimbursement—the list goes on. There are so many things you can consider when assessing an offer, and understanding the full range ...
What to ask for if you have a long commute?
“If you’ll have a long commute, there are plenty of benefits you should consider asking for. For instance, you could request that they provide you with an automobile to use. If they won’t do that, maybe they could add your car to the company insurance policy, cover a certain portion of your automobile expenses, or share the cost of a leased vehicle.” —Michael Rainey, a business instructor at Pepperdine Graziadio Business School
What to do if you don't ask for tuition reimbursement?
“If tuition reimbursement for graduate or other programs is important to you, ask about it, and tell the employer why it matters to you. Remember: The worst they can do is say no. But if you don’t ask for it, you’ll never know what the answer is. Plus, if you’ve researched the company to familiarize yourself with their values and understand what benefits they offer, you should be able to make a strong case for yourself.” —Matthew Burr, an HR consultant who previously owned a business
What is non monetary benefit?
“Sometimes, non-monetary benefits can translate into greater value than a simple raise can. For example, negotiating for a more senior-level title or office is an obvious way to create non-monetary value for yourself. Plus, your ability to innovate and create bilateral benefits might impress the prospective employer, as well.” —Michael Rainey
Can you ask about stock options?
“You can always ask about stock options or other long-term incentives if you’re at the management level. Many companies reserve some of these benefits for certain levels, but it never hurts to ask if it hasn’t come up.” —Tiffani Murray
Is it reasonable to work from home?
“Working from home is becoming increasingly popular, and it’s a completely reasonable ask for most jobs . Just be sure to negotiate for it appropriately. Don’t just drop in out of nowhere and ask your boss if you can work from home every Friday; make the ask after you’ve finished a great project, or frame it in a way that benefits the company.
Can you negotiate a sign on bonus?
You can negotiate for a sign-on bonus or relocation bonus when you first accept an offer, and you can also negotiate for other kinds of bonuses—ones you earn if you excel at your job.” —Claire Bissot, the managing director of HR services at the financial services and business consulting firm CBIZ. 17.
Paid vacation
Paid time off, or PTO, is a benefit that gives you compensation for personal time off. Many employers offer two weeks of paid time off, and some offer unlimited time off. Others might expect you to be working on a holiday. In this case, you can ask them if they offer additional remuneration or not. They could also allow you to take that day off.
Benefits for commuters
If you have a long commute, you can ask your employer to help you with your commute costs. For example, you can claim reimbursement for tolls, parking, gasoline, or mileage if you are driving. If your job involves a lot of travel, a company car may be something you can request.
Insurance plans
Employers often subsidize health or life insurance plans and learning the details is essential. For example, you need to know when your plan goes into effect so that you can subscribe to a temporary plan during the waiting period which can last up to 90 days. You can also ask if the plan covers your partner if you are not married.
Flexible hours and telecommuting
A flexible schedule is an alternative to the traditional 9 a.m. to 5 p.m. schedule. It allows you to arrive or leave at different times of the day and can dramatically improve your work-life balance. When you ask for it, show your employer that you are committed to the job.
Professional development opportunities
Professional development is about gaining knowledge and improving skills to be successful or reach your next career step. You can ask your employer to help cover some of the costs associated with your professional development. They can pay for training courses, seminars, certifications or conferences related to the work you are currently doing.
Student loan repayment
If your employer doesn’t have a formal student debt repayment plan in place, you can still apply for it yourself. You can suggest that they tie your performance to that extra money they invest in your debt. If it also benefits the business, they’re more likely to say yes.
Benefits for health and well-being
Health and wellness benefits include reimbursement of the gym package and the option of using a standing desk or working showers. Some companies offer these benefits to encourage you to adopt better health habits. Another example of a health benefit is a monetary bonus for getting a flu shot.
What are the benefits of a job?
Some commonly offered job benefits include: Insurance coverage for medical and dental care. Life insurance policies. Disability insurance.
What are some examples of employer sponsored benefits?
For example, if you have a child, spouse or another dependent, you'll want to pay attention to what benefits your potential employer might offer them as a part of your package.
What are the most important factors to consider when choosing a new career?
Employee benefits are one of the most important factors to consider when choosing a new career. The type of insurance, paid time off and retirement benefits you're offered during the hiring process can greatly influence how satisfied you'll be in your new position. In order to make the most informed decision possible, ...
What are the benefits of education and training?
Educational and training benefits can be incredibly enticing for candidates seeking careers that support their professional development and advancement. Though most organizations offer professional development opportunities, they're typically geared toward training you for the role they want you to serve in.
How long do you have to wait to get unemployment benefits?
Typically, the maximum waiting period is 90 days , meaning you might have to wait a full three months on the job before you're able to access your benefits. Comparatively, some employers have established shorter waiting periods, and others may not require a waiting period at all.
Is an employer's salary considered an employee benefit?
Therefore, anything your employer offers you besides your salary or regular pay is considered an employee benefit. Since employer-sponsored benefits can improve an employee's quality of life and level of job satisfaction, they're an important part of the offer and negotiation process. Not only do great benefits often draw in competitive candidates, ...
Do employers have a waiting period for health insurance?
Many employers have established waiting periods for employees before they can start to receive benefits. These policies help employers offer health insurance coverage to new employees regularly without having to wait for yearly enrollment dates.
When to ask about benefits?
A good rule of thumb is to wait to ask questions about benefits until you know you’re a serious candidate for the position, such as during the second or third round of interviews. Likewise, if the potential employer introduces the topic of benefits, that’s a good indication that it’s appropriate to ask clarifying questions to get more information ...
How many employees are required to have health insurance?
If the employer has 50 or more employees, they are required to offer health care plans, but more than 75% of companies offer more than what is just required by law. Depending on the company, these benefits may include dental insurance, vision care and life insurance. Make sure to ask what exactly is offered and who can be covered under your plan.
How long do you have to wait to enroll in a new health insurance plan?
A company may have a specific enrollment period or need criteria to determine when you are eligible. Some plans have a 30-day or 90-day waiting period .
How much do companies match 401(k)?
Ask how much the company match is and at what percentage. For example, at 4% of your monthly paycheck, the company might match 100% . However, at 5% of your monthly paycheck, they may only match 50% . Ask when that match becomes vested. If you leave the company before you’re fully vested, the company may withhold the match.
Why do employers use paid sabbaticals?
Employers view paid sabbaticals as an effective retention tool; and because they are typically awarded to employees who have stayed with the company for five years or more, employers are willing to use them as leverage to close a deal with a potential employee.
What is a signing bonus?
A signing bonus can be used to offset relocation expenses or to make up for deferred compensation forfeited from a previous job. For example, if you had unvested stock in your old company, it probably vaporized the day you left; a signing bonus at your new firm can help make you whole.
Is professional development outside of salary?
Although some 87 percent of companies offer tuition assistance, professional development is often outside the salary budget. That being said, many employers are willing to fiddle around with budget lines in order to send employees with high potential to conferences and training programs.
When to Ask About Benefits During the Hiring Process
When you’re considering a job, there are many different factors in play. Most people think of the salary first and foremost, but benefits can be equally important. What can be challenging is knowing when to bring them up in the process. Asking about vacation days in your first interview is a definite mistake.
Timing is Everything
Early on in the process, a good rule is to not bring up benefits unless the company does first. For example, many recruiters will ask about specifics, knowing what the company offers and trying to pair it up with a candidate looking for the same thing. Some companies won’t discuss benefits at all.
Negotiation & Questions
If you’re unhappy with what is offered, or feel like you may be able to gain more, you could negotiate. Some companies may be firm on their salary offering, but willing to give you more days off.
How long can you have health insurance after leaving a job?
Employer-provided insurance plans can have waiting periods of up to 90 days. 4 So, if you're leaving one job for another, you may need interim coverage. If you’re leaving a covered employer, you can opt to continue your health care coverage through the Consolidated Omnibus Budget Reconciliation Act (COBRA).
Is a salary enough to pay for an employee benefit plan?
A great salary isn't always going to be enough to compensate for an employee benefit plan that doesn't offer what you need. In general, there are employee benefits questions you should ask about to ensure that your overall compensation plan is right for you and for your family. Also, ask specific questions based on your needs and on ...
What to do if you don't understand your pension?
If you are offered a benefit that you do not understand, companies usually have websites set up to explain what they offer. If not, check with human resources or the benefits administrator.
What is employer provided life insurance?
Employer-provided life insurance is meant to compensate your survivors for your lost wages and income should you die while employed in your new job. If you are single and not supporting anyone else, you may not require life insurance.
What is the best investment for 401(k)?
Mutual funds are the most common investment choice in a 401 (k) and you will have to decide how you want your contributions to be invested. You can go back and change this later if you decide on a different strategy.
Can I contribute to 401(k) for retirement?
The IRS allows you to contribute up to a set maximum, which changes from year to year. Many experts agree that it is best to contribute as much as you can afford right away instead of going back and trying to catch up later when you are already accustomed to a bigger budget. In the future, you'll be glad that you did. 1
Is it more expensive to have dental insurance?
If you rarely have dental issues, it may be more expensive to have the insurance than to just pay for your dental work out of pocket. The same is true with a vision plan. Look at what the services cover and estimate out how much you think you would use them.
Can employers match employee contributions?
Many employers match employee contributions up to a certain amount, based on how much you contribute annually. Not taking advantage of an employer match is the equivalent of leaving "free money" on the table.
Is a life stage mutual fund better than a money market?
If you don't have a life-stage mutual fund choice, remember that a younger person would probably do well to be in a more risky stock-based fund as compared to a money market or bond mutual fund, which would be better for those nearing retirement. 1 .
