Perks don’t have to be in the pay-packet

There many aspects and components to consider when evaluating a job offer or reviewing what you currently receive from your existing employer.

We all have different priorities and for some the salary is the most important aspect whereas others might even sacrifice a bit of pay in return for greater job security.

One area of our salary package that is often overlooked but is actually very worthy of consideration is the additional benefits that we are offered in addition to the basic salary.

Typical employee package

There is often a standard framework that many employers use when deciding what to offer as a standard package to their employees.

For many, the average number of paid holidays starts at about 10 days but some people receive a lot more than that. Depending on the size of the company that you work for, you might also be entitled to a standard range of defined benefits in addition to the salary with a defined pension plan being one of the commonest perks offered.

Many companies also offer healthcare schemes or maybe a car allowance if the position warrants it. Whatever your employer decides to offer as standard, the common theme amongst companies that are considered to be the best ones to work for is not just the salary they offer but the level and diversity of the perks that they offer in order to attract and retain a happy and productive workforce.

Average number of perks

Well over 60% of employers seem to believe that offering a range of perks in addition to the basic salary package is the way to go in order to attract employees.

The number of employee benefits offered by small-medium sized companies is on average just over three and larger companies with more resources tend to offer an average of about five defined benefits.

Benefits being offered

Offering a pension scheme or healthcare is always welcomed but many more companies find that being innovative in what they offer helps them to attract staff.

If you are a working parent then the offer of childcare vouchers is going to be a vote winner as far as you are concerned whereas someone else might really like the idea of gym membership or shopping vouchers.

There are so many perks available now and they don’t have to be of high value to be considered of interest. A family theme park pass or even a discount card to use in local shops are relatively small perks in monetary terms but their value in how they are perceived and received by employees make the idea attractive to employers who want to promote a good working environment and loyalty.

Evaluating the perks

If you are an employee it is sometimes difficult to evaluate the value of these perks in monetary terms.

The answer is to take each perk offered on its individual merits and if you are considering a new position within your company or perhaps a new opportunity elsewhere, then decide whether what is being offered has a particularly high value to you personally, such as childcare vouchers for example, as this can be a deciding factor rather than just basing your judgement purely on monetary value.

The important thing to remember when weighing up all your options is that perks don’t just have to be in the pay-packet.

George McKenzie is a veteran businessman. He enjoys blogging about his experience with employee management and optimizing productivity and satisfaction.

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