Knowing The Value Of Your Benefits

By Jane Higgins

Clinical Career Specialist

As a new graduate, you are fresh out of your education, your hectic schedule, and the normality of what you have known those last six-plus years.

You are now entering a new normal, bringing a new world of choices. Among one of the most important new choices: benefits. Most new graduates are not properly educated on what to look for in a benefits package when choosing their place of employment.

“Where can I make the most money,” can be the first question a new grad asks as they prepare to find out the value of an employer. While a generous salary is desirable and can make for an easier living, there are more than a few reasons to look beyond the dollar signs and study the additional benefits offered.

The first thing to address is:

WHAT IS IMPORTANT TO YOU?

Is it flexible?

Is it paid time off?

How about professional development?

Though, a retirement plan is important, too, right?

But, what about health coverage?

Think about the things you require as an individual and new graduate. What are those things that will set you up for success in your personal and professional goals? Employee benefits such as your medical, dental, vision, and so on, should be thoroughly reviewed and understood.

HAVE OPTIONS AND PLANS TO FIT YOUR INDIVIDUALIZED SITUATION.

This will allow for peace of mind should anything come up. This will also allow more money for you to allocate toward other things: loans, rent, car payments, and so on. Having strong benefits gives you the power to decide what is best for you to utilize and feel comfortable.

THINK ABOUT A COMFORTABLE FUTURE. 

A retirement plan is one of the most sought-after benefits when someone begins with a new employer. This will allow you to invest in your future and, when the time comes, retire comfortably.

Look into the different types of retirement plans offered and see what appeals to you the most. For example, when a 401k plan is offered, do they also offer an employer match? Employee match is “free money” for lack of a better phrase. This means whatever you contribute yourself; your employer will match that contribution up to a certain percentage. Your money should also be allocated across a diverse portfolio of stocks and bonds. What are they and is that available to you to review? The more educated you are on your money, the more you are in control of it.

FURTHER EDUCATION IS NOT LIMITED TO CONTINUING EDUCATION UNITS.

Professional development and continuing education are keys to long-term success and happiness at work.

Be sure to ask what growth opportunities are available to you. That will give you a good understanding if they want their employees to feel challenged, and most importantly, valued. Support from a development and educational standpoint is showing you that this employer wants to invest in you, and they want you to be the best you can be.

WANT TO GO BACK TO SCHOOL?

Tuition reimbursement ties into this as well. If furthering your education is something you want to achieve, look at those additional benefits in your career search and evaluate your options.

Along with providing a platform for continuing education and professional development, such as CEU credits, reimbursement for certifications and specializations, spreading awareness and encouragement for attending conferences and events, tuition reimbursement can assist you with furthering your career and feeling more fulfilled from an educational and professional standpoint.

What is considered ‘good’ when it comes to this type of benefit? Discover what level of education they will assist with, what amount they are willing to reimburse per semester, and if you are expected to be employed for a certain amount of time in return for their assistance.

Your career, education, and goals are important to your employer if they offer a benefit that will not only help build a better organization for them but help build a better life for you as well.

BE SOMEWHERE THAT UNDERSTANDS THE WORTH OF YOUR EXPERTISE.

When talking about having an employer wanting to invest in you, this can also relate to the employer valuing your input and ideas.

Employee recognition is a great benefit that should not be overlooked.

People want to be rewarded or recognized when they do well, and having a forum for that to take place encourages a positive environment with motivated employees.

ALL IN ALL, RESEARCH.

Research not just the salary of your preferred employer, but the total benefits package. In the long run, you will be helping yourself by understanding the importance of what’s being offered and how it relates to you. By educating yourself, you will get a deeper look into who the company is and what’s truly important to them for their employees. Knowledge is power! The more you know, the more confident you are in your decision.

Good luck!