Know your company benefits to get all the perks
It pays to get in on all the benefits your employer offers.
What are employee perks?
Employee perks are offered at most businesses to employees on top of their pay or salary. Most jobs, positions and organizations offer some form of employee perks but it is important to find out for sure and request to be added. It pays to get in on all the perks and benefits your employer offers.
Why do employers offer perks?
Most employers offer special benefits and perks as a way to attract and retain employees. Employee perks and benefits can definitely help in your health and financial well-being and also reduce the amount you spend out of pocket. To dig into specifics, set up a meeting with your Human Resources department to chat with someone in real life or ask if a full rundown of your benefits is online.
Employee perks to explore
Common types of employee benefits include life, disability and medical insurance, retirement benefits, paid time off and other offerings depending on the organization. In addition to employee perks such as insurance options, here are a few others to explore.
- Flexible spending accounts. This allows you to deduct a percentage or certain amount from your paycheck pre-tax and use toward health expenses. Examples include medical co-payments, dental work, vision expenses, medical expenses and non–prescription medicines.
- Transit benefit programs. Many employers offer pre-tax flexible spending accounts for transit (bus, train or other commuter expenses).
- Health and wellness programs. Some companies offer a stipend for gym and fitness memberships and exercise class expenses. This benefit contributes to the health and well-being of their employees.
- Phone, mobile and internet expense reimbursement. Some companies cover some of your phone and internet reimbursement or discounts if they are used for business purposes.
- Employee discounts. Many organizations take part in special perks and pricing on products and services. Examples include cell phones, digital services, movies, travel, insurance, theme parks and more.
- Workplace perks. This depends on the organization you work for but could include things such as recreation activities, food and coffee services and flexible or remote work schedules.
These are just some examples but it is worth checking out what your specific employer offers since there is generally a wide variety depending on the organization.
Research what is offered
Explore your employee perks today to avoid missing out on benefits your employer provides. They are there for you to use and intended to help organizations and their employees manage their lives in practical ways. They may also help you obtain financial goals like saving for a trip or investing in your future.