5 Employee Benefits You Should Consider Before Accepting a Job Offer
- Author: Monica Jackson
- Posted: 2023-01-30
When considering a career or job change, one of the key contributors to your decision is the salary. That is after factoring in the kind of job you'll be doing. However, that is not the only thing you should check out. The job offer package will also include the benefits to expect. Benefits are the contents of the compensation package provided by your employer.
The benefits package should consist of off days, retirement plans, insurance coverage, among others. Different organizations offer varying benefits depending on one's employment status, and that is why you should go through them before signing that contract. The following are 6 of the most common benefits you should consider before taking that job.
1. Family-friendly Benefits
Most organizations provide their staff with benefits that favor their families. Some of them include allowing employees to work from home to have enough time with their kids or provision on-site childcare services. Some firms may also organize with daycare service providers in the locality to provide their staff with discounted rates.
You need to understand that organizations cannot discriminate against workers because of their family status; hence why not take advantage of the family benefits provided by the company you want to work for? Even if you may not need the family benefits offered while signing that contract, they may be beneficial in the future.
2. Retirement Benefits
Retirement benefits are equally important as health insurance benefits. They are also the most vital considerations you should make before accepting that job offer. The plans entail employees saving a part of their pre-tax salary for retirement. Some organizations provide their staff with matching programs to contribute a similar amount to their employee retirement plan.
Since not all companies offer that, ensure to ask about it as you discuss the benefits to expect with your employer once you accept the job offer. The retirement programs come with strict regulations such as penalties if one withdraws funds before the retirement age and limits of the amount of money one can contribute or withdraw in one year.
3. Relocation Expenses Benefits
If you find a new job within your locality, you might not need the relocation expenses benefits. However, if you've found a job offer from a company in a different place and you have to move, make sure to inquire if the organization provides employees with relocation expenses.
The expenses may cater to moving costs such as transportation, renting a temporary house, or any other you may need while moving from one location to another. The hiring company may provide you with relocation expenses in the form of a percentage of your starting salary, a standard amount set for the moving expenses, or the total cost required for the move.
4. Career Development Benefits
After an employer trusts you to work for them, they would likely provide you with benefits to help your professional growth. Most companies offer benefits to their staff to learn more about their field and acquire skills that contribute to their career advancement.
You may get help in the form of an annual budget to attend conferences or professional development courses. For example, your employer may not find the need to pay for your German lessons if they won't require you to visit the country for official matters. But if they'll need you to visit the country for a management seminar, they may not have another option but to pay for the classes for you.
5. Education Costs Reimbursement Benefits
If you're pursuing a particular course while still working, your employer may offer a plan that reimburses your part or the total tuition amount. The company may provide you with funds to pay for a workshop or course or full university or college education sponsorship.
Even though you are more likely to find tuition reimbursement plans in large organizations, some small ones also provide the programs on smaller levels. If you are still in school, it is essential to inquire about the tuition reimbursement policy. For example, ask whether the company reimburses education expenses for courses not related to your specific field or otherwise.
From the above information, the benefits offered by an organization may contribute to the establishment of your career. A company can compensate its employees in several ways apart from paying good salaries as explained above. It would help you know the different kinds of benefits an organization provides in their package since that will give you more power to negotiate for more and better benefits.