What Every Full-Time Employment Opportunity Should Offer, According to Experts
Job hunting has its ups and downs, and nobody enjoys dragging the process out. Thus, when you finally find something that seems like a good fit for everything you’re looking for, you might be tempted to rush to accept an offer.
Before you do, though, you should take the time to think over several important things. For instance, have you really considered all the possible perks, elements and benefits that a job should offer you? Here, our experts provide an array of factors you should consider when getting a full-time employment opportunity offer.
Flexibility in how and where you work is key for many employees, according to Colm Hanley, finance officer at Healthier Trajectory.
“According to a study by the Society for Human Resource Management, 43 percent of employees said that flexible work options were ‘very important’ when considering a new job. This number was even higher for millennials, at 54 percent. And it’s not just working from home that employees are looking for; many want the option to work remotely, or to mix in some remote work with time in the office.”
Reviews and Raises
Employees should be able to receive regular reviews to get a sense of how they’re doing and raises that reflect their performance, Hanley said.
“A study by PayScale found that 59 percent of employees said they would leave their job if it didn’t offer regular pay raises. And, of course, everyone wants to feel like they are making progress in their career. Many companies now offer regular reviews, as well as the opportunity for raises and promotions, as a way to help employees feel like they are moving forward.”
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Company Culture Fit
Company culture is also important to many, Hanley said, so companies will want to be sure they are making the case for being a good fit with the potential employee. “[Employees] want to feel like they fit in with the company they work for and that their values align with those of the company.” Never rush into a job where the culture feels off.
It almost goes without saying that good benefits are a necessity in a good job offer, but this can mean different things to different companies — and job security goes along with it.
According to Max Benz, Founder and CEO at BankingGeek, “A comprehensive benefits package includes, at a minimum, health insurance and paid time off.” Additionally he said, “Job security is the stability of knowing that an employer will not terminate an employee’s position without cause. Ideally, a full-time employment opportunity should offer all three of these things to create a stable work environment where employees can thrive.”
Other Financial Benefits
In addition to traditional benefits, Edward Gottfried, director of product at Betterment at Work said that a survey his company conducted “found that the top five most-desired financial wellness benefits employees want are a high-quality 401(k), a 401(k) matching program, a wellness stipend, an FSA or HSA, and an employer-sponsored emergency fund.”
The pandemic forced a lot people to dip into their retirement funds to pay for living expenses, he said, so “benefits like an emergency fund can be a game changer for employees to help them prepare for costs that may arise in the future.”
Stock in the Company
While it’s nice to make a paycheck, full-time employees — and even part-time employees — of publicly traded companies should get some form of ownership in the company, said Mike Wendt, executive director of Human Resources Operations and Compensation at Ally Financial.
Stock helps employees feel they are literally invested and part of the team. At Ally, he said, they give an #OwnIt ownership equity grant of 100 restricted stock units (RSUs) each year to every employee, which are vested in three years.
“The #OwnIt grant…makes all employees shareholders of the company, regardless of their level, location, or role. This helps them understand more fully how their day-to-day responsibilities ladder up to Ally’s strategic priorities and results.”
Student Debt Support
Another emerging benefit trend that can help set employers apart is a student debt management program, Gottfried said. “A recent survey from Ramsey Solutions found that loan repayment assistance is one of the top benefits businesses are considering adding in the coming years.”
With the temporary moratorium on student loan payments set to expire on August 31st, he argued, employees will be thinking about how they’re going to pay down their debt. “Employers can play a role in helping to reduce stress around this by making some form of direct contribution towards that debt, implementing financial programs that help employees understand their debt and how to create an effective repayment plan, or offering access to financial advisors.”
A paycheck is good, but it only goes to the bank. Appreciation, on the other hand, is something you take with you every day, said Candice Jones, financial data analyst and the founder of Information. “This gratitude can be expressed via respect, surprise presents, or a simple thank you.” Most employees thrive on expressions that their work is valued and their role in the company is important.
Career Growth Opportunities
Jones also said that a good job will give you a sense of how you can grow. “[Look for] work that encourages you to go beyond your existing skill set, whether through hard assignments, educational opportunities, demanding excellence, or informal mentors, will make you a better person and the firm a better one.”
Steve Wilson, finance expert and founder of Bankdash, suggests that full-time employees working in offices and other workplaces should be able to take advantage of perks, “including free food, parking, and access to a gym on-site.” In addition, he said “businesses may offer space for various uses, including conference rooms for meetings and lounge spaces for employee socializing.”
Discounts on Products
Wilson added that if a company provides products and services, then it can also “give discounts to their full-time employees on things like mobile phone plans and other needs for their jobs.”
Don’t settle for an anemic job offer. With the Great Resignation, potential employees have the upper hand in today’s job market.
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