Regardless of your career choice or area of specialism, you want a great employer. Any company that provides a good benefits package will have no problem recruiting keen and eager staff. This means your resume and experience needs to stand head and shoulders above every other candidate. Of course, if you’re not first in line for a role with a big employer, you can still find plenty of smaller companies that offer a good package.
You might be with this company all the way to your retirement, so it’s important to negotiate the very best deal you can get. After all, this is your livelihood, and your long term future we’re talking about. So what should you be looking to receive in employment?
Even if you’re still in your teens, it’s really important to get cracking with your pension. It is considered to be very unwise to opt out of any company pension. After all, most employers match your contribution, so you’re getting a pension funded for free. When you’re considering the pension scheme offered by an employer, take a look at the maximum they are willing to put in for you. If you can, agree to the salary deductions necessary to be eligible for this. You’ll be glad of it in the future!
Try not to rely just on a state or company pension, though. Many employers offer literature or details of where to find advice for saving up for your retirement. Take advantage of these. You may think you have ages to go and lots of things you could be spending your money on, but living without a working wage is tough these days. Look to safe investments that are designed for retirees. Protecting the money you’re investing is essential. Some of these can be taken at source to avoid additional taxes.
Check the terms of your employment mention periodic salary reviews. These should typically be offered every one to two years. The last thing you want is for your salary to be stagnant when the cost of living continues to rise year after year. In the very least, your role should be reviewed. As you begin to excel at each of your duties and take on more responsibilities, your pay should reflect your status.
Good employers also have a program to ensure the best employees are eligible for regular promotions. Speak to your interviewer about the career path of a typical employee in your department. Ask about time frames and if there are any internal training programs that help improve your skillset. It’s possible that external training can be funded to help you reach more senior positions with the right qualifications.
Many businesses that sell goods and services can offer their employees a discount. Some companies refuse to offer this benefit until after a full year of service. This might also reflect on your probationary period. The longer it is, the more power the employer has to fire you. A good company puts faith in their recruitment decisions and provides the employee with access to a full range of benefits upon completion of a three-month or six-month probationary period.
If you work in a sales team, your entire salary might be based on a rewards scheme like bonuses. While there may be a promise of uncapped earnings, you need some guarantee regarding a minimum salary. As for your bonus structure, this may be graded based on your experience, or it might relate to the value of the business you bring in. Of course, many employees expect some sort of bonus at the end of the calendar year. Find out if this is a regular reward that you might be taxed on or a corporate gift of some kind.
Healthcare & Dental Plans
Good health is essential to enjoy the life we lead. It is also financially beneficial to your employer if you are in good health. You’ll perform better and be a more reliable and attentive employee. This is why many companies offer plans to help save you costs on taking care of your health. If your employer doesn’t offer one, ask them to consider joining a plan to benefit everybody.
Gym Memberships and Leisure Subscriptions
As above, gym memberships might be offered to ensure you stay in good health. Other leisure subscriptions might be offered to help the business become a more popular employer. They might also act as a motivator to keep you working hard and staying loyal to the company!
The amount of annual leave you might be offered could depend on the seniority of the role. It might be company policy to offer more to managers. There is nothing stopping you negotiating for a day or two more as part of your employment contract. As with salary negotiations, these arrangements are private between you, your manager and HR.
You should expect public holidays off work in addition to your annual leave allowance. In some industries, it is necessary to take your leave during date periods specified by your employer. This is true of the military and some other businesses. In the Financial Services sector, it is often required that you take a block leave of at least one full week each year. This is to better protect the business from problems like fraud and money laundering. Don’t take it personally – it protects you too, especially if you are the only person doing your job in that department.
Most employers are not discouraging of moonlighting or taking a second job. However, some companies will not permit it due to the extra tiredness or commitments you may encounter. This is understandable for safety sake. It’s always best to mention to your HR department that you receive income from other sources. This will help to ensure your tax code is correct. You may also be asked to sign additional non-disclosure or non-compete documents if you are working in a similar role elsewhere.
Do you ever check you’re getting the full range of benefits and financial rewards you should be? Do you make sure your future is protected with pension plans and investments that your employer could support? Get more from your work.