What Are the Different Types of Employee Benefits?
When looking for a job, you’ll find that different companies offer different compensation packages. They’re perks meant to compensate employees for their hard work. They get combined with a salary to attract new hires and retain employees.
Benefits often only cover full-time workers, but some part-time roles come with them. There are many types of employee benefits that can get offered, too.
Depending on your needs, you might be interested in different ones. Read on to learn about all the types of benefits you could come across in your job search.
Paid Time Off
One of the most common big and small business benefits is paid time off (PTO). It allows employees to take days off from work, such as for vacation or an appointment, and still receive pay. Sometimes it includes company holidays or sick days as well.
PTO is usually earned and accumulated during each pay period. However, some employers provide unlimited PTO to their staff.
Family and Medical Leave
Family and Medical Leave (FMLA) is a required benefit for companies with over 50 employees. It allows eligible workers to take up to 12 weeks of unpaid leave without their position put at risk. Employees might use it for a new baby, caring for a sick relative, or an extended health emergency.
Retirement Plans
While working for a business, it’s crucial to save for retirement. Luckily, some companies can help you. Retirement plans are among the best types of benefits offered.
Employers can offer an IRA, a 401(k), or a pension. In some cases, they might even contribute money to staff retirement accounts.
Health Insurance
Almost every company with benefits has health insurance options for employees and their families. They often cover routine checkups, basic procedures and appointments, and emergency room visits. You can usually add vision and dental insurance policies, too.
Nowadays, some businesses also offer mental health benefits They can cover therapist or psychiatrist sessions and medications.
Living Stipend
If you’re working for a company of a large size, it might offer living stipends in the compensation package. This is especially true if any relocation or home equipment is necessary for the role. The stipend gets used to cover or reimburse any work-related expenses.
Remote Work Options
One of the most enjoyed benefits for employees is the flexibility for remote working. It’s growing in popularity in the business world, and if you’re lucky, you might even find a small business offering it. It often gets paired with an allowance for a home office or work equipment for your home.
Some companies allow employees to choose to work from home all the time. Others might give the option of a hybrid situation with a few days in the office and the rest at home.
Look For These Types of Employee Benefits
As you search for a new job, you’ll come across many compensation packages. Expect them all to have different types of employee benefits included. You can choose which positions you’ll apply for based on the benefits you’re after!
If you have additional questions about working for a company, check out more of our articles for answers.
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