{"id":4229,"date":"2023-02-10T09:35:32","date_gmt":"2023-02-10T09:35:32","guid":{"rendered":"https:\/\/backtoworkconnect.ie\/?p=4229"},"modified":"2023-02-10T09:35:36","modified_gmt":"2023-02-10T09:35:36","slug":"returning-to-work-heres-how-to-evaluate-the-employee-package","status":"publish","type":"post","link":"https:\/\/backtoworkconnect.ie\/careerhub\/returning-to-work-heres-how-to-evaluate-the-employee-package\/","title":{"rendered":"Returning to work? Here\u2019s how to evaluate the employee package"},"content":{"rendered":"\n<p>When\nconsidering a job offer, many of us may focus our attention on one thing: the\nsalary. When in fact, often, this is just one part of the entire package. <\/p>\n\n\n\n<p>To\nunderstand the total value of a job offer, it\u2019s important to look beyond the\nsalary and consider the benefits, perks, and intangible bonuses that may be\nincluded as part of a compensation package. <\/p>\n\n\n\n<p>These\nadditional benefits can add considerable value to the overall offering and are\noften a key reason that many employees accept \u2014 or decline \u2014 a job offer. <\/p>\n\n\n\n<p>In\nthis blog, we\u2019ll take a look at some of the key elements to look out for when\nevaluating an employee package, so you can make an informed decision.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Determining what matters most <\/strong><\/h2>\n\n\n\n<p>Before\nwe dive into the various benefits, it\u2019s important to take a step back &amp;\nreflect on what matters most to you.<\/p>\n\n\n\n<p>Are\nyou planning to start or expand your family and want a strong\nmaternity\/paternity policy? Do you need a flexible schedule to care for family\nmembers?<\/p>\n\n\n\n<p>Or\nmaybe you\u2019re interested in developing your skill set in the future and need\naccess to professional development opportunities.<\/p>\n\n\n\n<p>These\nare all personal decisions that your job\u2019s compensation package can impact.\nKnowing up front what matters most to you and what you need will go a long way\ntoward evaluating different options.<\/p>\n\n\n\n<p>To\nhelp you create a \u201ccareer priorities list\u201d, we recommend considering the\nfollowing:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Think ahead. Think about\nwhich benefits will matter most in the <strong>long\nterm<\/strong> rather than what feels most attractive right now. <\/li><li>Look for opportunities\nfor <strong>growth<\/strong> in addition to financial\nand other benefits. <\/li><li>Consider the <strong>net value of all monetary benefits and\nexpenses<\/strong>. Fringe benefits, such as life cover,\nincome continuance or employer pension contributions, might not be seen in your\ntake-home pay but are invaluable.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Common items included in a compensation package<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Paid Leave <\/strong><\/h3>\n\n\n\n<p>Many\nemployees prefer jobs with a good work-life balance and ample paid time off\n(PTO). In fact, according to <a href=\"https:\/\/www.flexjobs.com\/blog\/post\/what-working-parents-want-at-work\/\">2021 FlexJobs survey<\/a>,\n82% of working parents said work-life balance is the most important factor when\nconsidering a new job. With this in mind, find out the exact number of annual\nleave days the company offers and how they are structured. Check to see if they\noffer additional paid time off, such as company days or sick days. If you plan\non starting or expanding your family, details around their maternity\/paternity\nleave policies will also be important to discuss. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Pension contributions<\/strong><\/h3>\n\n\n\n<p>Company\npension contributions are one of the most valuable benefits on the market and\nare becoming a standard offering among top employers today. If the company does\noffer this benefit, dig deeper to find out if they offer full or partial\nmatching. And enquire at what percentage of your salary do they cap\ncontributions? <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Health\/Life Insurance <\/strong><\/h3>\n\n\n\n<p>The health\ninsurance coverage an employer offers can affect the quality of life for you\nand your family. Find out if the employer offers health insurance and, if so,\nwhat level of coverage is included. More importantly, see if there are\nadditional life cover benefits, such as a level of income continuance if you\ncannot work due to ill health or death in service life cover, which might be of\nparticular interest if you have pre-existing medical conditions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Professional development<\/strong><\/h3>\n\n\n\n<p>Where your intended career path requires\nor would benefit from a specific course or qualification, your employer may\noffer to pay the related fees or offer internal training\/upskilling\nopportunities. This is obviously not a monetary amount that you can take away\nwith you, but it can aid in your general career progression.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Remote\/Flexible Working <\/strong><\/h3>\n\n\n\n<p>Remote\nwork has become more popular than ever, especially among younger employees and\nworking parents. Before you accept a job offer, ask if partial or fully remote\nwork is part of the company&#8217;s definition of perks. Even if companies don&#8217;t\noffer a WFH option, check to see if they offer flexible hours. If you want a\nlocation-independent lifestyle or need to balance work with childcare, you may\nprefer a compensation package with a lower salary but greater flexibility\nregarding work location and hours.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Stock options <\/strong><\/h3>\n\n\n\n<p>Some\nemployers offer a type of benefit that allows their employees to earn or\npurchase stock in the company. But remember, stock options aren\u2019t for everyone.\nIt\u2019s important to consider upfront if this is something you\u2019re open to or\ninterested in. Are you willing to trade some salary now for the possibility of\na financial win down the road? How does the vesting schedule impact your\noverall career plans? These are important questions to ask yourself (and your\nfamily) as you review job offers. It\u2019s also important to make sure you understand what types\nof stock benefits you\u2019re being offered and how they can be redeemed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Company Perks <\/strong><\/h3>\n\n\n\n<p>As workforces continue to grow and\ndevelop, many employers have started offering creative benefits packages to\nclosely target their employees\u2019 unique needs. Examples of common company perks\ninclude a company car, gym\nmembership, travel passes, a bike-to-work scheme, on-site childcare, tax-free\ngift vouchers, etc. <\/p>\n\n\n\n<p><strong>Ready to learn more about how to reap the benefits of your\nemployee package? <\/strong><\/p>\n\n\n\n<p>You\u2019ll love our latest podcast\nepisode with Niamh De B\u00farca, Founder &amp; CEO of <a href=\"https:\/\/www.sproutplans.com\/\">SproutPlans<\/a>. Listen to the full episode <a href=\"https:\/\/btwc.onodev.com\/careerhub\/podcast\/salary-and-employment-podcast\/\">here<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"When considering a job offer, many of us may focus our attention on one thing: the salary. When&hellip;","protected":false},"author":16,"featured_media":4231,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"episode_type":"","audio_file":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","filesize_raw":"","csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6],"tags":[250,381,383,378,380],"class_list":{"0":"post-4229","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-blog","8":"tag-financial-wellbeing","9":"tag-life-insurance","10":"tag-pension","11":"tag-salary-and-employment","12":"tag-stock-options","13":"cs-entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.2 (Yoast SEO v25.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Returning to work? 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