Besides Salary The top 5 Benefits to Look For in a New Job
Many people seek out new jobs in the hopes of growing their salaries. And to be clear, that's not a bad thing to do at all.
These days, the labour market is nice and strong. And that means, for a lot of people, they can expect to negotiate as high a salary as possible. After all, more money could be used to save for retirement, buy a house, build savings, travel and live a better life.
But what about other benefits that can be offered in a job? Surely, salary isn't the only thing to think about when seeking out job opportunities. Also aim to secure the best benefits package possible. With that in mind, here are five benefits - outside of salary - worth going after.
Related: The Best Company Benefits to Consider When Accepting a Job Offer
1. Annual Leave
This one is obvious, but it's definitely important! When looking for a new job, it's important to find out how much annual leave is offered. That way, you can make an informed decision about whether the vacation time being offered is suitable for you and your needs. Some employers may offer a generous annual leave entitlement, others may only offer the minimum requirements.
People need time away from work to relax and rejuvenate. Vacation time allows employees to do just that - without having to worry about work. It's important for employers to offer vacation time, as it makes their employees happier and more productive when they return to the office.
Related: 6 Red Flags to Look Out for When Accepting a Job Offer
2. Work From Home/ Hybrid
Working from home can be a great benefit for employees. For starters, it cuts down on commuting time, which can be stressful and time-consuming. The more flexibility you have at work, the better a balance you might achieve. Plus, more flexibility could lead to more savings.
If your company is willing to let you tweak your hours or work from home part of the week, that's a big win. You'll likely enjoy a better work-life balance, which is important for your mental and physical health.
Many employers (post-Covid lockdown) are offering working from home or a hybrid model as a benefit to their employees. It's a great way to show that they care about their employees' well-being and work-life balance. And it's also a perk that employees appreciate and are grateful for.
3. Bonus
The company you're looking to work for may only be able to offer a certain salary. But that doesn't mean you can't negotiate a nice bonus as part of the compensation package.
In fact, there are two types of bonuses you can ask for. The first is a sign-on bonus that's payable to you once you accept an offer, and the second is a performance bonus that hinges on how well you do on the job. Either one is worth going after, and your company may be more amenable to that than a boost to your proposed salary since a bonus is a one-time payment.
These days, many companies are eager to hire new talent, so it could benefit you to work on negotiating the best benefits package you can get. Doing so could work wonders not just for your finances, but your lifestyle.
Related: Go for the Compensation You Are Worth
4. Pension
A pension is an important benefit to look for in a new job. That's because, when it comes to pensions, time is on your side.
The earlier you start saving for retirement, the better off you'll be down the road. Employers know this and many are willing to contribute to their employees' pensions.
Some employers even offer matching contributions, which can be a great way to grow your retirement savings. A company pension plan is essentially free non-taxable money that you are receiving to save for your future.
When comparing potential jobs, take a look at the company's pension plan and see how much it will contribute to your retirement savings. If the company doesn't have a pension plan, this might not be the company for you.
Related: 7 Job Search Hacks to Get You Hired
5. Private Medical Insurance
Employers know that having good private medical insurance is important to their employees. That's why many of them are willing to contribute towards their employees' health insurance premiums.
When looking for a new job, make sure you ask about the company's private medical insurance plan. And find out if the company covers the cost of the premiums. Some employers also offer regular health assessments as well.
Having good health insurance is important because it ensures you'll have access to quality healthcare when you need it. Plus, it can help you avoid costly medical bills. Health coverage is an important benefit, it's definitely worth considering when evaluating a new job.
Related: You Don’t Get What You Don’t Ask For
When you're looking for a new job, don't just focus on salary. There are other important benefits to consider as well. Make sure you ask about vacation time, work-from-home/hybrid arrangements, bonuses, pensions, and private medical insurance. If the company can offer these things, it's likely a great place to work.
What benefits do you find most important? Let us know in the comments below.
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