What to look for in a remuneration package
A remuneration package is simply the whole package of salary, benefits, bonuses allowances and commissions that come with the job. It basically consists of more than just a salary and incorporates other benefits. Most recruiters ask what would be the ideal salary package during interviews. Conversely, most job seekers are usually concerned about gross pay figures that they forget to ask about other benefits that are attached to the position. While negotiating for a remuneration package, there are other benefits that you should consider besides the salary.
Some companies may not offer a huge gross salary but they have other packages which make your life easier and may even help you grow in your career. A good remuneration package may actually be better than a high gross salary. There are many benefits that may actually make the position very attractive apart from more zeros on the gross pay. Before negotiating for a salary, it is important to consider other benefits that come with the job. Here is what to consider:
Private medical cover
Medical care is expensive and a private medical cover can be more expensive especially if it covers all your family members. However, some employers take this burden off your back by offering a comprehensive medical cover for you and your family members. This enables you to enjoy the best medical care when you need it, even when your bank balance cannot allow it.
Good health is a gift but we all fall sick and if this happens in the middle of the month, you may face challenges. Your medical cover thus comes in handy by affording you quality medical attention with no visible dent in your bank account. Therefore, as you negotiate the gross salary pay, ask your potential employer about medical benefits.
Training and development
The world is changing very fast. As more skills are required to perform tasks, it has become necessary to get additional training so as to keep up with the changing world and keep performing well. Some companies offer formal training, seminars, and workshops, all of which sharpen your skills and make you a better version of yourself.
The more training you get, the more you improve your performance. This will give you leverage to negotiate for more benefits, a better salary package or a better position. Additionally, these skills may be transferable and thus, you get to earn skills that will land you your next big job, with more benefits or a higher salary. Some organizations even take their employees to school in order to learn new things. All these will help you grow in your career and eventually get those zeros added on your pay cheque.
Flexitime
Work-life balance can be tricky for most people. You want to devote enough time to your employer while not neglecting your family or your personal time. This can be touchy especially in highly demanding jobs. However, some employers give you the option to clock in early and leave early, or come in late and leave late or even work from home.
All these benefits ensure that you give your job maximum attention and your family gets your attention when it’s needed. You may also get the option of a paid or unpaid vacation time, all of which work to your advantage. Take advantage of flexitime to grow in your career and bond with your family.
The job’s scope
Some companies operate in entire regions or multiple countries. Some positions require close coordination of activities and operations. An opportunity to work in such a company or position means that you get to travel and learn how to operate at an international level.
This way, you gain experience and expertise in many fields which pave the way for future jobs and opportunities. These regular travel activities are usually catered for by the company and thus, you get to travel on the company’s tab. These vast experiences enrich your worldview and offer you great opportunities for career and personal growth.
The duties and responsibilities of the job may also help you sharpen your skills as you take on more responsibilities. For example, you may become a key account manager, which will enable you to build your network as well as strengthen your negotiation skills. These can come in handy when you are negotiating for a raise or looking for a new job. Read more
