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Recruiter Tips & Tricks: Understanding your benefits
November 17, 2011
Introduction: We've been featuring weekly
Recruiter Tips & Tricks
from Lead Engineering Recruiter
Jeff Moore
. We hope you've found his tips useful, whether you're looking for an internship, full-time position, or just looking to improve your resume. Today Jeff gives us his insight into the world of benefits.
This week we are going to talk about something really important: benefits. Companies offer a wide variety of benefits packages and they can really be a deciding factor when you are trying to decide on an offer. Here are a few things to consider when looking at employee benefits:
Health Benefits
- Health and wellness benefits are a critical component of any offer. Some companies offer multiple plans (HMO, PPO, HSA, etc.) and usually pick up a majority of the cost. You need to consider what type of plan works best for you and what it will cost you. Take time to read the details, there a lot of nuances to these plans and you’ll want to understand everything as well as you can to make the right decision.
Retirement Plans
- Planning for retirement might seem like a boring topic, but it’s something that you should be thinking about as soon as you get your first offer. You need to consider not only the type of retirement plan (402B, 401K or maybe a pension) but also what the organization contributes to your account, in addition to your own contribution. Once you’ve figured out the plan, determine how much you can afford to contribute. My advice is to stretch a bit and contribute as much as you can to your retirement. Short term sacrifice for long term gain.
Paid Time Off
- Everyone loves vacation. Vacation time, holidays and sick days are all things to consider as paid time off. Almost every organization does this differently so make sure you ask. Every plan has its pros and cons so I can’t offer much specific advice as it totally depends on the organization. Ideally, you’re looking for 2-3 weeks of vacation, standard holidays and a handful of sick days. More, of course, is better. Note: generally these plans are non-negotiable so recruiters don’t have flexibility to customize your package.
Perks
- Companies offer so many different perks nowadays it’s hard to compare; however, what you really want to see is that the company values their employees. I’ve seen perks like fresh cookies on Fridays, free breakfast, lunch, dinner, subsidized massage, acupuncture, movie tickets and even company cars. Generally, I think of perks as a bonus on top of the rest of the total package, and a way for you to help make the final decision.
That’s it this week! Don’t overlook the benefits package on those offers, the right benefits can make or break an offer and provide you with everything you need to start your career on the right foot.
Posted by Jeff Moore, Lead Engineering Recruiter
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