Value in Compensation Benefits

With my current situation with applying and talking with companies about potential jobs after graduation, understanding the different values that certain benefits have over others is important for me to use. When discussing different compensation benefits that are valued when looking for work, the initial benefit rankings that were decided were medical insurance, 401ks/investment plans, and work schedule. Personally, I found these three values to me, but later learned the value that similar ones have in the long term compared to the short term.

The revised rankings for three benefits that I would least likely eliminate ended up being paid time off, health insurance, and return to work platforms due to my future challenges regarding my surgical process. When ranking benefits based on value, the biggest consideration came from my future plans regarding my surgery next year that will take me out of work for months, traveling interests, experience with the value good healthcare insurance has in life, and my morals. When reviewing the videos under the week 7 learning materials, the protection programs like family assistant and employee assistance programs definitely changed my point of view regarding potential paid time off. Furthermore, the employee flexibility and importance of communication changed my original thought of work schedules and paid time off. When assessing the potential vision companies will have with time off, I feel it is important to discuss the issues and conflicts well in advance, and not after receiving a job.

The biggest factor that can influence the work benefits a business can give is the available location of jobs. Although this seems simple to avoid, many employees have preferred locations they wish to live at, which makes it easier for hiring managers to devalue the salary price for better locations and up the pay rate for worse locations. Another factor that influences the work benefits is flexibility. Within a company, the business’s thought will be based on reputation, availability to work, and the rate at which tasks are complete to the level of satisfaction. With this, altering benefits is hard to do later on, but is easier to negotiate for during the hiring process since other incentives can fluctuate dependent on the requests.

Citations on Week 7 slides:

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