How to Evaluate a Company’s Benefit Package

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When you are in the market for a new job, salary is often an important consideration. But as you narrow down your choices, there’s another factor to keep in mind: the benefit package. It can have a direct impact on your life and budget. That’s why it’s a good idea to understand and evaluate what is—and isn’t—included in a prospective employer’s benefit package.

Is a Prospective Employer’s Benefit Package a Good Fit?

Here are a few factors to be mindful of as you evaluate a compensation package beyond just the salary:

  • What is most important to you?

Depending on where you are in life, some benefits and perks might be more important to you than others. For example, do you prefer paid time off more than company contributions to a 401(k)? Or is working remotely or having flexible working hours a priority for you? Think about your priorities and compare them with what the company is offering.

  • Do the health care benefits meet your needs?

This area of employee compensation, from deductibles to co-pays and out-of-pocket costs, is complicated. And if you have college-aged children, you might need coverage for them, too. Trying to figure out whether the plan fits your needs can be overwhelming.

It’s usually a good idea to ask for a provider directory or a link to one online. That will allow you to see if the network is extensive enough to meet your needs or if a particular physician that someone in your family can’t part with is part of the plan. Also keep vision and dental coverage in mind. Both can be expensive for a family that doesn’t have insurance. Finally, be sure to ask how long it will be before you are eligible to enroll in insurance programs.

  • How good is the retirement plan?

No matter what your age, it’s always important to plan ahead for retirement. Some companies are more generous than others when it comes to pensions, matching employee 401(k) contributions, vesting schedules, stock options and more. Make certain to spend time reviewing what the organization is offering and how effective it will be in helping you achieve your retirement goals.

  • Are tuition assistance or education discounts important?

Some industries, such as senior living, are known for helping employees advance in their career by continuing their education. At ASC, for example, we offer tuition assistance and education partnerships. That makes professional advancement a lot easier to achieve. Along these same lines, you might want to ask if there is a career path that prioritizes promoting employees from within the organization.

  • What other perks does the company offer?

In a competitive job market, such as the one we’ve been experiencing nationwide over the last few years, employers might look for less traditional ways to express their appreciation to team members. Wellness programs, early access to paychecks, employee referral bonuses, gas cards and discounts at local restaurants and shopping malls are a sampling of what some companies are offering to recruit and maintain quality staff.

Learn About Career Opportunities at ASC Communities

If you are looking for a health care career in Indiana, American Senior Communities might have an opportunity for you. You can find a list of job openings, from leadership roles and culinary team members to marketing and activities staff and clinicians, in our online Careers center. Check them out and apply today!

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