All of us join a new workplace or job keeping in mind the compensation and benefits we would be getting at that place apart from the salary hike, of course!
As time passes and we settle in, we start forgetting the total rewards we could have had made use of. The fact that our employer spends a substantial amount of money on getting us these benefits does not gain our focus.
We are least worried about any other thing when we are getting our monetary share every month transferred into our account. But, certainly, there are benefits at workplace, not only for senior level employees but also for entry level positions.
Often times, we are too lazy to read the NDA or other policies that we sign at the start of our employment. Here is the catch!
All the c&b agreements are mentioned in these clauses. They are hidden very smartly but you can take a moment or two to sit and quip them out. After reading the points carefully, following will be the most common benefits you will find:
For instance, in the retirement savings option, usually the clause is, you put in 10% of your base pay and the company will put in 5%, in your retirement savings account. Now, come to think of it, this is a raise for you. You are saving money for the future and getting a 5% hike, if you do so.
Certain companies also have various programs for earning credits. One such example I came across is, a company introduced a health application among its employees. Every employee was challenged to walk a certain number of steps every day or perform some health-related activity and upload it on the application. The person who had the maximum points got a prize money or coupons, as per request.
Such employee compensationbenefits can boost your motivation at work and give you a lot of satisfaction, if you take the initiative to participate.
Let’s assume you take your own car to your office every day and spend your money on fuel. But why take the hassle when your company provides cab/ taxi service?
There are certain every day benefits that we neglect knowing fully well they would make us save money in the long run.
Another example would be food. Certain companies offer food options, on a daily basis. They may be healthier than what you feel like eating but will not fire a hole in your pocket.
These are a few common benefits we start ignoring once we get comfortable in the job. We should not take too much advantage but at least be aware of how much we can benefit from these small regular activities.
Mostly, all well-established firms offer their employees a chance to complete their higher education if they haven’t already. Some even help them in pursuing any course that will improve their role-specific skills.
All you need to do is go to the human resources officer with full confidence and ask for it! You could get to complete your Master’s degree that you’ve always wanted.
You might counter question saying, what is the company getting in doing this?
Well, the company is getting to retain a highly skilled and now, after your masters, even a highly qualified employee. This is helping your firm build a well-educated workforce. The trick to do this successfully is you need to stay with the firm for a considerable amount of time.
Other than all these benefits, your company might also offer ESOP’s, i.e., a small part of the company’s share for you to keep. If the company incurs a profit, you also gain. If it faces a loss unfortunately, you will have to bear the consequences too.
In all, there are benefits all around you. You just need to catch hold of them.
Go ahead & ask for the benefit you want!
Copyright @ PayReview 2018. Evoque Advisory Private Limited is a company registered in India operating under brand name PayReview.