Guest post:
Whether you are reentering the job market or looking for your next career opportunity, there are many factors that play into accepting a new position. Notably, the benefits that an employer has to offer is something that any prospective employee should look into before accepting a job.
As the workforce is constantly changing and adapting to new trends, the types of benefits available to workers are also evolving. Below are some of the potential benefits that might be offered at your next company. Understanding how these different areas serve you can give you a larger picture of what to take into account during the job-hunting process.
Health Insurance
Perhaps one of the most important benefits to consider when selecting a new job is the type of health insurance coverage offered by the employer. Although it is not legally required to use the health insurance provided by your company, this is usually the best option for affordable care. This type of coverage through your company is known as group insurance.
Something to consider before accepting a position is to understand if your employer’s health insurance is a defined benefit plan or a defined contribution plan. While these health insurance options differ, it is important to understand how much you can customize your coverage to fulfill the needs of your family. Remember that if you are not a full-time employee, you may not have access to health insurance offered by the company as they may not legally be required to provide it— so knowing what health coverage you are eligible for before you accept a position is key.
Life Insurance
According to the Bureau of Labor Statistics, 83% of private industry workers have access to life insurance through their employers. Typically, this is a set amount and is subsidized by your company, meaning that you will not be responsible for covering the full cost of the policy. The company you work for is the policyholder, and because group life insurance is often guaranteed issue, meaning it doesn’t involve health questions. This is particularly beneficial if you have a complicated medical history because you won’t have to undergo the underwriting process.
Keep in mind that the coverage provided by your employer may not be adequate coverage for many individuals, considering additional expenses you may have such as mortgages and financially dependent children. Because it is recommended to have coverage anywhere from 10-12x your salary, you might also want to look into additional life insurance options. Doing so can ensure that you are not put in a situation that could threaten your financial well-being while offering you a sense of full protection.
Flexible Scheduling
With the workforce seeing an increase in remote employment of over 4.3 million in the USA, there is a chance that your next company will offer some sort of flexibility in your work location or schedule. Due to the COVID-19 outbreak, many workplaces have adopted this type of arrangement, so it can be helpful to ask questions about this benefit if it is new to you or your employer.
As opposed to the typical 9-5 arrangement, flexible scheduling is something you may wish to have offered at your next place of employment. Paid time off, bereavement policies, paid family leave, and other special circumstances surrounding time away from the office is also something important to inquire about.
Perks/Wellness Options
The culture of the workplace in today’s world is shifting, and many companies are opting to provide their employees with different ways to boost both their mental and physical wellbeing. Although it may not seem as important as some of the traditional employee benefits, these small perks can have a big impact on your day-to-day well-being within your job.
There are benefits to offering employees corporate gym memberships, such as better focus and fewer sick days. Therefore during your job-hunting process, don’t be afraid to ask what type of fitness incentives are offered. Similarly, many offices have adapted to include in-office perks such as complimentary drinks and snacks, allowing pets in the office, and private nursing rooms for mothers. These types of benefits are optional and therefore not included in every job, but they are often used by companies to attract new talent and help with their retention efforts.
Retirement Plan
While there are many ways to save for retirement, company pension plans are a great resource for employees to plan for their future. A defined benefit plan is offered through pensions and is a more traditional approach to saving for retirement although not as common today. This is usually offered to employees who have been at the company for a certain amount of years.
Other popular retirement savings plans include defined contribution plans, such as a 401(k). With a percent of your income put into this plan, this tax-deferred retirement option lets you as the employee decide how much you want to put away towards retirement. Make sure to ask if your prospective company offers some kind of a 401K match because this is essentially free money towards your retirement. Having a candid conversation with the HR team at a potential employer can help you navigate the best retirement options available for you in your prospective new position.
From larger considerations such as your insurance needs to small daily incentives such as a pet-friendly office, every company is unique in how they operate and what they provide to their employees. Be sure to consider the company offered benefits and have open conversations about what to expect when accepting a position during your job search.
I couldn't have done it without you
This is what a client said to me today...
"I couldn't have done it without you."
Their kind words mean a lot; it means that they are reaching their goals.
It's challenging to make your career goals happen alone. I joke that Adam had Eve and Peanut Butter has Jelly. We are not meant to reach new heights solo. It's a journey you take with someone else.
My mission is to help you be happy and healthy in your career because when you feel good, and have focus and direction, you are able to live your dreams and fulfill your purpose in life.
My company offers customized and results-oriented Career Coaching programs for those who want a new job, new career, or a new way to flourish in today's hectic workplace. As well as wellness programs to help you perform at your best.
We also specialize in mentor coaching for those who want to make coaching their next career because they want to give back and share their knowledge, experience, and what they have learned over the years.
I hope these words below resonate with you.
Here's a thank you I received today from a client:
"Deborah, I want to thank you. I got a JOB OFFER and have accepted the job! It is an exciting role where I will get to learn a lot and have time to take care of me too. Thank you again for all your help!"
And another:
“Wanted to give you an update...I accepted a new job yesterday! I used what you taught me; what to look for in a position, how to set boundaries, and to evaluate whether it is a really good fit or not. It is a leadership role, and there is lots of opportunity for growth. Thank you again for all your help.”
And another:
“I wanted to let you know that I got the job! The offer is extremely good in terms of benefits, salary, job responsibilities, and work/life balance. I will be leading a much larger team and will have much more critical responsibilities than I have now. And, the workload and stressload will be lower. The experience and exposure I am about to get is far superior than I would have gotten in my present position if I stayed where I am. I want to take this opportunity to thank you for all the preparations and guidance you gave me that helped me succeed in this process.”
One More:
"My husband hugged me after the session he had with you yesterday and he thanked me for making it happen. Thought you should know."
The reason I do what I do....
They thank me, but I want to thank them for trusting me with their career.
To learn more about my career coaching services, visit https://surpassyourdreams.com/
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