1. Shorter vesting period
2. Immediate vesting upon a merger or buyout
3. An extended period of time, upon departure from company, before being required to exercise the options.
Attractive benefits totally impact a person’s decision to accept or decline a job. Currently, the most desired perks are:
1.More vacation, especially if only a week is offered. Adjusting this perk can greatly enhance the appeal of a job and can help retain talented employees.
2. Full employer-paid medical coverage is a close second, since many plans provide lousy coverage, or have high employee-paid premiums. Managers and above, often negotiate for more money to cover any out-of-pocket contributions if a full employer-paid plan is not in place.
3.Signing bonuses; often just asking puts an extra five thousand dollars on the table.
4. Adequate expense accounts (hotels, meals, and cars fully paid by company). Most hated policy – requiring employees to be away from families due to cheaper fares/rates for company. i.e. Saturday stays for lower corporate airfare rate.
5. ASSUMED perks (but negotiate for concrete guarantee): company paid computers including laptops, pagers, cell phones and data organizers directly billed to the company. Relocation reimbursements with all expenses covered, including any real estate losses and closing costs; plus an extra monetary bonus for the hassle of moving.
To obtain other perks that sweeten the deal for you, try these strategies.
-Know what you want. Create a dream list of extras an employer could provide, with the top priority first. Many employers recognize individual needs and may ask you what you’d like. Knowing you value subsidized daycare, flexible start times or a bigger car allowance serves you well in getting exactly what you want.
-Don’t be afraid to try. ASK – you can’t get more money or benefits if you don’t ask. Often there is room within their budgets for more incentives. Mention the particular perks that would really sell you on the company, as you are negotiating a job offer.
-Do your homework. Evaluate the company's entire benefit plan: vacation time, flexible hours, tuition reimbursement, overtime, fewer hours, days off, relocation expenses, stock options, company car, expense accounts, bonuses, so you understand exactly what is being offered. Look closely at the medical plan. What kind of coverage is provided? What deductibles does the plan include? Who pays for dependents? If you pay, what will that cost be? My clients have successfully argued for a higher salary to compensate for switching medical plans where the old employer covered the entire family and the new one covers just the employee. Predetermine which benefits are important to you and ask for them. Or, suggest a higher base salary to compensate if the requested perk can’t be given.
-Argue with solid rationale. If you had four weeks vacation at your last company – even with ten years of service, say so. Staying competitive with benefits offerings is often reason enough for a company to grant your request. Mention that time to recharge is important to you and insures you remain highly productive. Be reasonable, but firm in stating what you want. Even hard-nosed employers have responded by offering an additional week or two when requested.
-Visualizing a successful outcome. Role-play the negotiation out with a friend. Defend why you are worth the company upping it’s offer. Ask for the feedback - did you convince the person? This preparation will decrease your anxiety and increase your confidence.
-Use A Letter of Employment. Solidify your hard-earned negotiations in a written document. This is imperative whenever you deviate from the standard company plan. It eliminates a lot of potential misunderstandings down the line and clarifies what has been agreed upon by both parties.
Excerpted from “What to Do with the Rest of Your Life” by Robin Ryan, published by Simon & Schuster.
Copyright 2004 Robin Ryan. All rights reserved.
Robin Ryan has appeared on the Dr. Phil Show, Oprah, NBC Nightly News with Tom Brokaw, CNN, CNBC and is considered America’s top career coach. She is the best-selling author of: 60 Seconds & You're Hired!; Winning Resumés; Winning Cover Letters, and What to Do with the Rest of Your Life. She's the creator of the highly acclaimed audio training program Interview Advantage and The DreamMaker. Robin's passion is helping people find better jobs which she successfully does through her career counseling practice where she offers individual career coaching and resumé writing services. A popular national speaker, Robin has spoken to over a thousand audiences on improving their lives and obtaining greater success. To purchase her books and audio training programs click here: www.robinryan.com