6 Valuable Perks to Prioritize in Your Next Job Search
According to the US Bureau of Labor Statistics National Compensation Survey, the share of the average worker’s compensation that came from salary has continuously fallen since they first began the survey in 2004. 14 years ago, salary made up 71% of the average worker’s overall compensation and now it makes up just 68%. While this stems, partially, from wages that are rising incredibly slowly and remaining stagnant in a lot of industries, it’s also due to employers offering more valuable perks across the board. Some of the most valuable perks are still hard to find. But you should prioritize these 6 perks in your next search for the best value in your benefits package.
1. Training Programs and Tuition Reimbursement
The more you learn now, the more you’ll potentially earn down the line. That’s especially true for technical professionals. And one of the main reasons why training programs and tuition reimbursement are incredibly valuable perks. These perks can help you advance in your career and keep you competitive. Plus, it means reduced pocked costs for your continued education. If you were going to do it anyway, why not do it for free?
2. Generous 401k Match
When a company offers a generous match on your 401k, you can use that to your advantage. A 401k means setting yourself up for a better retirement that starts sooner. A lot of companies offer 401ks with matches, but many organizations are increasing the amount they match to encourage employees to stick around for the long haul.
3. Student Loan Repayment
As more and more Americans take out loans for increasingly expensive degrees, some companies have implemented programs to contribute towards or completely repay their employees’ student loans. If you have student loans, you know how heavily they can weigh on your pocket and your mind. While this perk isn’t as commonplace as some of the other valuable perks listed, it can definitely add a lot of value to your compensation if and when you find it.
4. Relocation Assistance
Making a costly move to improve your career is a big decision, but that decision becomes a lot easier when an employer offers relocation assistance. This can reduce your stress when starting a new job and, if you relocate to a lower cost of living area like DFW, your overall compensation will stretch further, which increases your compensation even more.
5. Telecommuting
To save on rising gas costs, to save on vehicle repairs and associated expenses, to save time by eliminating your commute: telecommuting adds a lot of value to your overall compensation package. Plus, this improvement in your work-life balance will have positive effects like avoiding burnout.
6. Employer Paid Medical, Dental, and Optical
Healthcare costs have risen a lot in recent years and that trend is expected to continue in 2019. To combat these ever-increasing costs, some employers pay the full load for medical, dental, and optical insurance so their employees don’t have to pay any premiums. Some companies offer this in a less valuable degree, offering to cover a percentage of or a few hundred dollars towards employee’s insurance. Other employers go above and beyond, offering fully paid medical, dental, and optical insurance not only to their employees but also to their spouses and children. This perk increases your overall compensation and saves you some money that can be spent elsewhere or contributed to your retirement.
If you’re planning to look for a new job and want to make sure your perks are as valuable as possible, prioritize these 6 perks. As perks become a larger percentage of the average American’s compensation, it’s important to know which ones provide you the most value in addition to analyzing which ones are most important to you.
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