Being an Employee: Understanding Benefits

It can be argued that employee benefits and perks have never played a more significant role in the workplace. What was once something companies used to stand out from the crowd have become essential tools of engagement and productivity, not to mention vital to recruitment.

Understanding Employee Benefits

Benefits are anything that employers might offer in addition to salary, that entice employees and potential employees. 

Everybody makes a wage, but benefits go beyond that. They can range from vacation time, pensions, or medical insurance. It’s a major component to understand before entering the job market and making informed decisions. 

Learning about benefits is part of learning how to adult in the real world. Do you remember when your teachers taught you about employee benefits in school? I don’t either. It’s totally valid to feel lost and confused! When you have the information that may seem confusing and scary at first, you will soon learn, “I know what they mean and how to handle this!” 

Let’s start with the basics of employee benefits:

Here are some of the types of benefits employers may offer?

***This list is not all inclusive, these are the general benefits offered, but there are many more options an employer can choose 

1. Time off
2.  Bonuses 
3. Discounts for memberships (i.e to the gym)
4. Insurance: health, dental,and vision
5. Retirement: 401k, pensions or IRAs

It is so important to think about your financial and life goals when thinking about a benefits package and to think long-term!

Take a few minutes and think about what benefits are important to you before you enter the job market. List what you must have in order to accept a position. For example, do you have a lot of dental issues making dental insurance an absolute must for you? Really take the time to consider all of this. 

Remember to make sure you know the benefits that are being offered to you.

Ask any questions you may have to your employer before you accept anything. Don’t feel embarrassed or silly if you don’t know certain terms they are saying! We all had these questions at one point, too! 

Use the above list as a foundation for what questions you need to ask about benefits. It’s always good to ask in general “what benefits are offered?” However, the more specific benefits you can ask about, the clearer information you will get, allowing you to make a fully informed decision regarding if this is the right job for you. 

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