Top 4 Benefits to Look for in a New Job
When looking for a new job, there are many things to factor in during your search to help you make your ultimate decision. Beyond the salary or wages agreed upon, you might be seeking out additional benefits to support not only you but your family in the long run. Below are four different benefits to look for when job searching.
1. Insurance Benefits
While it may seem like an obvious coverage to have, insurance benefits are among the top considerations that employees look for in their onboarding package. Studies show that 46% of U.S adults say that health insurance coverage was an influence or factor when choosing their job. Furthermore, 56% of respondents say that there is a direct correlation between offering good benefits, and employee retention . While there are many types of health insurance plans, take some time to review factors such as:
Cost of coverage
Beyond health insurance, there are other insurances that are important to consider when looking to start a new job. While not mandatory to have, insurances such as vision and dental can greatly benefit you and your family when it comes to covering all or part of your cost of care.
Another type of insurance coverage that is important to look for in a potential job is life insurance. In many cases, your employer will have some level of employer-sponsored coverage available. However, this coverage might not be enough to support you or your family’s financial needs and obligations. In the case of your death, your life insurance policy will pay out a lump sum of money to someone you designate to receive these funds (also known as a “beneficiary”). This could be a spouse, children, or other dependents that you might have.
The beneficiary may use this money can be used to pay for financial obligations such as a mortgage, funeral expenses, and other liabilities that you might leave behind. While an employer-sponsored life insurance policy is usually free or low-cost, it’s important to look at secondary life insurance options to make sure you have enough coverage for you and your specific circumstance since the recommended amount of coverage to hold is 10 to 12 times your salary.
2. Paid Time Off Benefits
Paid time off is an extremely valuable benefit for any employee to look for, now more than ever. In an ever-changing world, it’s important to be able to take time away from work, whether for a vacation, sick day, or just for some needed time away from work. An important consideration when in a job-seeking position is what kind of time is available to you and how you are able to use it.
If your employer offers vacation time, it’s important to note how much time you’re allotted throughout the year, how you are given this time (whether the beginning of the year or accrued), and if you can rollover time. It’s also important to inquire about the policy itself and determine if there are certain regulations, such as providing a certain amount of notice before you’re able to actually use your PTO days.
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3. Flexible Work Schedule
Depending on the type of job you have, a flexible work schedule is an important benefit, especially with an ever-changing employment landscape. A flexible work schedule allows you to have a solid working relationship, not only with your immediate supervisor but also with your company as a whole.
If you have a job that is more customer-facing, such as restaurant, retail, or hospitality, it’s beneficial to inquire about what your schedule will look like on a weekly or monthly basis. Are you able to create your own schedule to accommodate your home life or other obligations? Or will you have a more routine-type schedule?
If you have an office setting job, your flexible schedule might look a little different now than it has in the past. The COVID-19 pandemic has completely changed how the working world works. Many employers have moved to a fully remote work culture, while others have adopted a hybrid model, allowing employees to work from home and the office.
Establishing expectations early on when job searching can give you an understanding of what to expect and how to alter your schedule as needed. Remember that if you are working remotely, either full-time or in a hybrid-type model, there are tips to stay motivated while at home to make the most of your workday.
4. Professional Development Plans
Now more than ever, employees value career development, whether that is to succeed in their current role or to work towards a promotion. Inquiring about professional development plans when looking for a new job can help with your ultimate decision.
There are a few discussion points to bring up regarding employee development prior to accepting an offer. One easy way that employers can provide a path for advancement and growth is to have a set employee development plan. This is a formal process to help identify and improve both soft and hard skills to prepare for increased responsibilities or a new role. Other options for professional development include:
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Tuition reimbursement for higher education
By having a working relationship in place with your superiors regarding your personal and professional development, you ensure not only current victories but also future success.
Looking for a new job can be an exciting time, and there can be a lot of different factors to consider. While pay and location are important factors in your decision-making, it’s just as important to consider what benefits are available to you, both as a new and tenured employee. Taking time to investigate these benefits upfront will help you make the right decision for you and your personal and professional goals.
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