A few good alternatives to a pay raise
how you don’t necessarily need more cash to be wealthier
It always comes to this, doesn’t it? the day when you will have to sit down with your boss and ask for a pay raise. Usually, it’s not as easy as you would have hoped. In this piece, we will present you with the idea that there are worthy alternatives to a few more bucks in the bank. You never know how much an hour more to yourself could be worth. Let’s find out!
Work life balance
You can ask for permission to tinker around with your work hours. There are a lot of people willing to start a few hours early, say 8:00 AM instead of 10:00 AM and finish work sooner, so they could tend to their lives or families better. Others wouldn’t mind putting in a few more hours of sleep then going to work later because they are more of a ‘night owl’.
The beauty of flexible work schedules is that you can custom tailor your work-life balance without costing the company a single penny. A whole other thing altogether is to ask for the chance to work from home on certain days. Some control over your hours could make a much bigger difference than an extra 10% on top of the salary.
The ability to reorganize your health insurance package is another topic you could talk over with your employer. Think about the things you are entitled to but, have never actually used? Won’t it be better to opt for a more useful health coverage? Therapy, spa treatments, medication costs, extending some of the medical plans to family members are all good choices. The key here is to communicate and eventually discuss this as an organized group of employees to your employer.
Ask your employer to institute a recreation room, or if you already have one, to expand it with games such as a slot/pinball machine, pool, miniature football, air hockey table, board games. This kind of change would require more of a group effort, though. As for a personal benefit then gym membership, dance classes, hobby expenses and other recreational costs come to mind.
There are many work-related costs that the employee is forced to bear – parking and transportation generally fit the bill, gas bill, transportation allowance are all suspects. Basically, all expenses that vaguely overlap with your work life are acceptable. Remember that a company would only want to pay for any expense if it’s tax free.
An increase in paid vacation days is a sphere where you could want compensation in the face of stiff opposition against a pay increase. Having more time for rest and relaxation can be great, and offset the need for a pay increase in the first place. Need a day to do some chores, see grandma or have the time to go for that three-week long Maldives vacation you’ve been planning for years? This is the way to go!
This benefit also works well as a one-time bonus, for example after a job well done.
Trainings and education
Trainings and courses are a good way to obtain more benefits to your employer, provided they can bring some added value to the company as well, the rest we leave to your imagination. Plus, they are an easier sell to your employer.
Child care is a relatively new and ill-explored and practiced employer benefit, nevertheless it has huge potential for a win-win arrangement. It just reeks of positive effects like, relieving you of a responsibility, making child daycare placement easier and its location closer to work/home, thus helping out with your work-life balance, and naturally with productivity, or so the story goes in front of your employer.
Contact Lift HR today to see how you or your company/organization can organize and work through one of the benefits listed above.