***Determining your Career Benefit Plan: What Benefits are Normal and what are Considered Perks?

Every company is different and one of the ways companies can maintain a happy work place is by offering certain benefits and perks with the job. While some benefits are fairly standard, others can be considered more on the ‘perk’ side. Benefits are often expected while perks are an extra little something that makes the workforce more pleasant for everyone. It’s important to look at the different types of benefits and perks to know what you can expect (and what can be considered an add-on to sweeten the deal). The Perks: The best companies to work for, as rated by employers all include perks above the standard benefit package. Some of these perks are as follows:

• Gym membership or spa facilitiesn
• Child minding or pet sitting servicesn
• Flexible working hoursn
• Casual dress attiren
• On site dry cleaningn
• Company car, phone, gas card, credit cardn
• Take home lunchesn
• Free food, coffee, drinksn
• Seminars and tuition reimbursement plansn
• Bonuses such as Christmas bonuses, long service leaven
• Concierge service, free parking passesn

nThere are companies that offer perks that you may have never even thought off; however, often these perks are the best ones. Offering perks proves that the company actually cares about their employees and go the extra mile for them. According to a survey done by Ceridian, a larger company with around 5000 employees will offer their employees 3 to 6 different perks in order to retain employees. You can expect fewer perks with smaller companies as often they simply do not have the resources to include a day care facility/ dry cleaning service/college in their office. The Benefits: Typically there are seven different types of benefits that larger companies will offer. Below these benefits are listed:

• Health insurance: 75% of companies offer to their employers, according to the Bureau of Labor Statistics. For those who do not offer health insurance, often companies will offer a contribution to your required medical needs as part of their company plan. Health is something that should be valued in every single industry.
• Paid vacation leave and sick days: On average in the United States paid vacation and leave is 9 days per year and 5 days per year, respectively.
• Pension Plans: Retirement plans can vary but the most common one is a 401 K plan.
• Life insurance: This usually includes the amount of one year’s salary in case anything should happen to you.
• Stock options: there is a waiting period but the stock will be set at a certain pricen
• Flexible spending accounts n
• Additional insurance such as dental, vision and disability insurance.

nIf you are undergoing a career change, it’s important not to get too caught up in your previous employer’s benefit and perk package. As mentioned above, every single company is different. In a career transition, a lot of things are going to change, including your benefit package. This is all part of the fun.