Posted by Employee benefits are important because they are for personal needs and therefore, increase your job satisfaction. These benefits can help improve your mood and motivation as you work in your position.
Salary must not be the only thing you should secure when you negotiate your benefits as an employee. There are many benefits that you can ask for but it is always better to review your offer and ask specific questions to ensure that your needs are met.
Benefits That You Can Ask For:
1. Commuter Benefits
For those that have long commute times, you can ask your employer to assist in the commuting costs. For example, toll charges or gas mileage reimbursement if you were to use a car or motorcycle. In a case where you use public transport, you can try asking for the company to cover the public transit pass.
Related link: Employee Benefits After COVID-19
2. Flexible Hours & Work From Home
A flexible schedule and working from home are other alternatives to the traditional 9 am-5 pm schedule. This allows you to arrive or depart at different times which can significantly improve your work-life balance. These arrangements can provide more flexibility and better accommodate personal commitments.
3. Student Loan Repayment
In 2018, many candidates requested to have their student loan repayment and it became the key recruitment tool at some of the biggest companies such as Fidelity Investments. Many companies found out that helping their employees with student loan repayment not only attracts but also, gains loyalty of their employees.
4. Health Insurance Coverage
Comprehensive health insurance coverage such as medical, dental and vision plans are crucial benefits to request. Inquire about the employer’s contribution to premiums and the coverage provided for you and your dependents. Lastly, make sure to fully understand the health insurance plan your company provides and if the plan suits your needs.
5. Retirement Savings Plan
It is a compulsory requirement that all employees working in any registered entities in Malaysia have a certain amount deducted from their monthly salary. The Employee’s Provident Fund (EPF) works by accumulating retirement benefits, providing EPS after 58 years of age and EDLI which will cover an employee as life insurance. Make sure your company has provided this benefit for all of its employees.