How can you determine the best benefits to negotiate when your employer is open to negotiation?

1 Assess your priorities

Before you start negotiating, you need to have a clear idea of what benefits are most important to you and why. Think about your personal and professional goals, your lifestyle, your family situation, and your values. For example, do you value flexibility, security, growth, or recognition? What are your current and future expenses and savings? How do you balance work and life? These questions can help you identify your priorities and rank them in order of importance.

2 Research the market

Once you have your priorities, you need to research the market value of the benefits you want. You can use online tools, industry reports, or professional networks to find out what other employers offer in your field and location. You can also ask your current or former colleagues, mentors, or friends for their insights and experiences. This will help you benchmark your expectations and prepare realistic and reasonable requests.

3 Choose your benefits

Based on your priorities and market research, you can choose the benefits that you want to negotiate with your employer. You can categorize them into three groups: must-haves, nice-to-haves, and trade-offs. Must-haves are the benefits that you cannot compromise on, such as health insurance, retirement plan, or paid leave. Nice-to-haves are the benefits that you would like to have, but are not essential, such as tuition reimbursement, gym membership, or stock options. Trade-offs are the benefits that you are willing to exchange for other benefits or salary, such as flexible hours, remote work, or bonus.

4 Communicate your value

When you negotiate your benefits, you need to communicate your value to your employer and show how your benefits will benefit them as well. You can use specific examples of your achievements, skills, and contributions to demonstrate your worth and potential. You can also highlight how your benefits will enhance your performance, motivation, loyalty, or engagement. For example, you can say that you need a flexible schedule because it allows you to work more efficiently and creatively, or that you want a professional development fund because it helps you learn new skills and improve your results.

5 Be flexible and respectful

Finally, you need to be flexible and respectful during the negotiation process. You should not expect to get everything you want, nor should you accept everything your employer offers. You should aim for a win-win situation, where both parties feel satisfied and valued. You should also respect your employer's constraints, priorities, and policies, and avoid making ultimatums, threats, or demands. You should be prepared to compromise, negotiate, and explore alternatives. For example, you can ask for more vacation days instead of a higher salary, or for a performance review instead of a promotion.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?