What Would Employees Do for More Pay or Perks?
To double your salary, would you rather be on call 24/7 for your boss … or for Donald Trump? To get unlimited time off, would you rather endure a two-hour commute (each way) or take a huge pay cut? These and other compensation and benefits-related tough-choice questions were posed to U.S. workers in a recent survey from GOBankingRates.com. While the findings are presented as amusing tales, they underscore a more serious issue: Employees often don't get as much as they could out of their salary and benefits packages. For example, many workers do not negotiate for a pay raise. But those who do are often successful. Meanwhile, some employees end up not using a significant amount of the vacation time they've earned. "While conducted in a playful manner, our survey shows how far some people are willing to go to get a raise and other employee perks," said Kristen Bonner, lead researcher on the study. "What's important to note, though, is that there might be less drastic ways to get these benefits by negotiating with your employer. [Also], if you're considering different job offers, you should look at the entire compensation package offered, not just the pay. Benefits such as low- or no-cost health insurance, matching employer contributions to a 401(k) account and a flexible work schedule can be worth a lot." Approximately 1,000 workers took part in the research. Additional findings were compiled from research posted by organizations such as Payscale and Project: Time Off.