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Here's how to conduct a review of your compensation and benefits package....As you review your compensation and benefits, consider the following questions:How do your offerings stack up?Are you keeping up with benefit trends?Are any benefits being underutilized?Do employees have needs that are going unmet?
The most common types of employee benefits offered today are:Medical insurance.Life insurance.Disability insurance.Retirement contributions and pension plans.
Questions to Ask About Employee BenefitsDoes the company offer health insurance?Will it cover members or my family as well as myself?How much of the premium costs do I have to pay for myself?Can I choose different levels of coverage?What kind of coverage is there for dental, vision and disability insurance?More items...
Employee benefit examplesHealth insurance.Paid time off (PTO) such as sick days and vacation days.Flexible and remote working options.Life insurance.Short-term disability.Long-term disability.Retirement benefits or accounts.Financial planning resources.More items...?
How to answer "What are your total compensation expectations?"Research the industry and geographic area.Emphasize your flexibility.State a range rather than a fixed amount.Consider offering high compensation.Be honest.Focus on why you expect the amount.Prepare for price negotiation.
Evaluating employee benefits packages: 7 tips to considerWhat is the cost share?What is covered?How extensive is the health care provider network?What is the plan type?How much are deductibles, co-pays, co-insurance, and premiums?What benefits do you and your employees absolutely need?More items...?
What's your benefits package? This question is fair gamebut only after you receive the job offer. Employers want to hire people who are passionate about the job, the work and the organization, Templin explains. When questions about benefits are asked too early, you're not giving off that perception.
Depending on the company, these benefits may include health insurance (required to be offered by larger companies), dental insurance, vision care, life insurance, legal insurance, paid vacation leave, personal leave, sick leave, child care, fitness, retirement benefits and planning services, college debt relief, pet
Employee benefit examplesHealth insurance.Paid time off (PTO) such as sick days and vacation days.Flexible and remote working options.Life insurance.Short-term disability.Long-term disability.Retirement benefits or accounts.Financial planning resources.More items...?
Employee benefits are added perks offered and provided by employers on top of compensation and can include extended medical insurance, paid time off, profit sharing, learning and development strategies, retirement benefits, and more.