- Employer-provided benefits can make a compensation package more valuable.
- You may be missing out on some lesser-known employee benefits like flexible work hours, educational benefits, childcare reimbursement, and wellness perks.
Your employer may offer unique job perks you're not using.
As an employee, you're likely offered employee benefits in addition to your salary. The entire benefits package is provided in exchange for your work, and some employee benefits can make a job offer more valuable.
Many employers provide perks like paid time off, paid holidays, and retirement savings programs like 401(k)s. But if you're lucky, your employer may offer much more than that. It's good practice to review your current benefits and stay up to date on any changes to get the most out of your employee perks.
Here are some lesser-known benefits that could make being an employee at your company sweeter.
1. Flexible work hours
Some employers are more generous with work schedules. If you work for a company that touts flexible work hours, you may be able to choose what time you start and end your workday. This perk can be a huge win if you want more control over your daily schedule.
2. Childcare reimbursement
Childcare costs are costly -- especially in our country. How expensive? Approximately 58% of American families plan to pay over $10,000 on childcare costs in 2022. That's a lot of money.
Some employers reimburse their employees for childcare costs, which can help make this critical expense more affordable.
Another benefit your employer may offer is on-site childcare services. Childcare benefits make it easier for working parents to prioritize their family while continuing to focus on career goals.
3. Home office stipend
If you plan to switch to remote work, your employer may provide you with a home office stipend. You can use this stipend to purchase necessary home office upgrades or cover expenses like high-speed internet. Many employers do this so their employees can comfortably and efficiently work from home.
4. Educational benefits
Another little-known benefit that your employer may offer is educational benefits. Some companies give their staff a yearly stipend for continued learning expenses, like books, online courses, and training events. Additionally, some employers cover college tuition costs for employees and sometimes family members.
5. Vacation stipend
Some employers encourage employees to take a break by promoting an annual vacation stipend. This financial benefit can make it easier for employees to take a much-needed break without draining their savings accounts to fund their trips.
6. Wellness perks
Another unique benefit that some employees can take advantage of is wellness perks. Some companies provide on-site gyms, plan mental health workshops, and offer money-saving health and fitness discounts. These perks are valuable because workers can do their job better when they feel their best.
7. Unlimited PTO
While many employers provide their staff members with paid time off, some companies take it further by offering unlimited paid time off. This benefit gives employees more flexibility over when and how they choose to take time away from work.
8. Snacks and meals
Some brands provide free snacks and meals to their staff. This kind of perk can help you better stick to your budget as you'll be able to spend less on takeout and grocery expenses. Plus, readily available snacks or lunches are convenient and can save you time each day.
It's essential to pay attention to more than just your salary when evaluating company benefits. If you're happily employed, make sure you use all your employee perks.
If you're in the market for a new job, review the employee benefits as you look into potential opportunities. You may be able to score a new job with a company that treats its staff like gold.
Check out these personal finance resources for additional tips about important money matters.
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