Searching for an employment requires dedication and patience. You probably will not find the suitable job in one chance. Getting a job with a perfect position is very hard for us. If you agree to compromise this issue, then you can't get the perfect salary. Practically, we’re ready to leave our choice of work, but it’ll be a big problem if we don't get our expected salary (unless you’ve received a letter from Apple).
Although the majority of people are looking for a good starting salary and dreaming about a big green bill in their eyes, we normally don't bother about what benefits we are getting now. But trust me!!! Time has changed. Benefits are now a better indicator for evaluating your job and the employer.
1. Employee benefits - Considered by employees and job seekers
- Health care facility
- Leave and vacation
- Casual employee benefits
- Performance bonus
- Increment/pay raise
- Retirement benefits
The health care facility is the most important category of benefits. . If we check a survey of past employment history, we’ll find strong data showing valuable health care was the key interest of new job seekers and employees.
- Health care facility = 32%
- Leave and vacation = 25%
- Increment/pay raise = 15%
- Casual employee benefits = 10%
- Performance bonus = 9%
- Retirement benefits = 8%
2. Employee benefits - Considered on the basis of earning
Earning capacity has a huge impact on employees and job seekers while choosing various compensation benefits. A survey report says, .
Reports reveal that low-income group of employees (let’s say - income less than $90K per year) consider the health care facility as it gives them 35% of the value of their compensation. However, employees over $90K income per year, consider leave and vacation facility as their prime focus.
These stats suggest that . Practically health care benefits and leave and vacation facility, both are the two big benefits which influence the employee's mind while accepting a job offer.
3. Employee benefits - Considered on the basis of gender
Survey report says, . They also choose the leave and vacation facility as their second choice.
However, women employees are a little bit biased towards leave and vacation facility and give it a bit more importance. On the other hand, men employees give importance to the performance bonus a bit more than women employees. Practically gender differences have very little impact on selecting compensation benefits by employees.
4. Employee benefits - Considered on the basis of employed vs. unemployed
Several survey findings again reveal how . Unemployed and employed job candidates have significant differences while choosing any particular benefits. Mostly, they prefer health care benefits rather than the other facilities.
The majority of employed job candidates always give importance to health care, whereas unemployed job seekers are looking for a higher salary or an increase in monthly payment rather than health care. Apart from health care benefits, a survey also found that employed job seekers are very much interested in a pay raise. All other benefits have a similar value between employed and unemployed job seekers.
5. Employee benefits - Considered on the basis of career level
Employee’s career level (entry or beginner, mid-career, executive, management) plays a significant role in choosing between high salary and compensation benefits. Different job level employees have their different opinion while choosing various benefits. Similar to the above, a survey report about unemployed job seekers reveals that an entry-level job seeker searches for health care benefits. But as the experience grows, they’re also getting interested for a retirement benefit or performance bonus.
The as compared to entry-level employees, executives and managers. However, the upper-level employees like managers and executives prefer performance bonus more over their subordinate employees.
6. Employee benefits - Considered on the basis of employees with children vs. employees without children
An employee with kids has a choice similar to job seekers without children. However, both have some differences in levels of benefits that both will consider while choosing a job profile.
. Those without kids also prefer employee benefits like - life insurance and disability insurance. Job seekers with kids prefer paid child care over those candidates without kids.
So, it is clear that the majority of employees along with job seekers prefer different types of benefits more than only salary while applying for a new job.