Benefits & Perks

Employers are paying more attention to salary survey’s to ensure that they are offering competitive packages to attract the right candidates. Remuneration can take many forms, such as pension contributions, stock options, bonuses, healthcare and subsidies among many others. Companies are also becoming more diverse in their offerings. Attracting and maintaining senior executives remains very competitive and the overall remuneration package can sometimes be the deciding factor. Ultimately, benefits are in place to attract the right candidate but in doing so they improve employees' Quality of Life.

The following are typical benefits that may be offered by employers as part of the remuneration package:

  • Annual Holidays - Typically 20 days min with increase through service
  • Individual Training and Development programmes
  • Life Assurance
  • Private Health Care Plan
  • Pension Contribution
  • Performance related bonus

There is an increasing trend towards allowing employees a greater degree of choice and flexibility in designing their own benefits package, by offering flexible (‘flex’) benefit programmes. Under the ‘flex’ model a company’s rewards package is divided between core benefits plus an allowance the employee can spend on preferential extras, to suit their personal needs.

These benefits may include:

  • Paternal Leave
  • Car Parking
  • Relocation Allowance
  • Medical Check-ups
  • Creche Facilities
  • Company Car
  • Flexible Working Hours
  • Job Sharing
  • Holiday Fund
  • Educational Assistance
  • Social Club
  • Subsidised Canteen

Some employers offer flexible work arrangements eg working from home, job sharing. Many employees place more value on these type of benefits than on monetary reward.

Although benefits might not be a deal-breaker for a candidate, they certainly add to a company's overall image as an employer of choice.

Disclaimer
The figures quoted in this document are taken from a number of sources. The figures quoted could be higher or lower and depend on each individual company. The document should be used as a guideline for reference purposes.

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