How to Balance Job Offers Properly ??

Hello Leaders,

An analysis of a job offer is difficult and not only because there are more shadings that go beyond the monetary aspect of the scale. When it comes to compensation, a solid list of benefits might be the thing that turns a perfectly decent role from ‘good’ to ‘great.’

As always, this is Navigating Leadership and in this edition, let us explore the practical guide to reviewing job offers and positions to guarantee they are perfect for you.

?? Step 1: Classify the Benefits Offered

In most of the job offers, they offer benefits as a list of sweeteners. To make sense of it all, start by categorizing them into five key areas:

Health Benefits ??

Examples: Medical insurance, dental and vision insurance, and wellness allowance.

Why it matters: Good health factors have noticeable positive effects on the quality of life and relief of mind. Determine if the company provides full coverage and then decide whether the price they set is affordable.

Financial Benefits ??

Examples: Stock options, 401(k), pensions, student loan contribution

Why it matters: Every position calls for the financial stability of an individual. Determine whether your workplace offers pension and contribution, a saving scheme, or student loan repayment. The main companies who focus on financial health improve the path to wealth creation for the workers.

Growth and Development ??

Examples: Accredited course, career guidance, and conference grant.

Why it matters: Finally, if growth is to be continuous, then one must really ask whether the company is developing its employees. A good growth package indicates that the company cares for your career progression, and is more than just a job position.

Work-Life Balance ??

Examples: Paid time off, flexible schedules, working from the home.

Why it matters: Having a balance between family life and working life is essential in boosting job contentment and having a healthy working mind. Assess the available PTO policies, family leave and / or flexible working arrangements. Healthy balance is a good indication of a company that cherishes the time of the person and their overall well-being.

Other Perks ??

Examples: Fellowship to have equipment, free meal and laundry.For scholars who receive fellowships:

Why it matters: Perhaps, these bonuses are not significant, but they make life easier and even can contribute to the saving of money. If it’s free – for example, a company provides free meals, then your food expenses will be less.

This is perhaps what giving out an equipment stipend could tell you – that what you have is enough to succeed, without spending more.

?? Step 2: There are three questions a business owner should ask themselves when considering their business.

Once the benefits have been sorted out they have to be analyzed in more detail by means of answering three questions. This will aid you to define which recommendations best suit you in view of your special circumstances and future plans.

1. I know what my 2–3 most important goals are in life and work at the moment?

If you are concerned about climbing the career ladder, the benefits that might interest you most may include: development, training and mentoring. If family is important, flexibility in company’s timetables, and advantageous health insurance policies, would be valued most.

Example: For example, if right now you are struggling to find the right work-life balance being a working dad/mom. Such a job that provides free time, parental leave, and a clear promotion policy is likely to be the most suitable.

2. What are my ‘wants’ and ‘needs': What are my two ‘wants must haves’ two ‘no ways’?

That way you can easily sort out your priorities of what is a necessity in a candidate or what is negotiable. These need to have could be monetary (401k) or associated to health insurance (healthcare). On the other hand, lack of flexibility or lack of time which is adequate might be considered as show stoppers.

Example: If the “must-have” is remote working and the company offers fixed in-office employment, consider talking to the employer about flexibility or consider refuting the offer.

3. I would like to know what my goal is in the next five years?

Think about where you wish to be as an individual and/or employee. Is it a leadership position, more stability and better work, which can bring personal interest? This vision enables you to determine which of the benefits will enable you to achieve your long-term objectives.

Example: If you are aiming to become a leader in the future then ensure the company you are attending offers leadership training, management training, and promotion.

?? Final Thoughts: Matching Advertising Appeals and Rewards of Proposals to Personal and Corporate Norms and Goals

Once you’ve got your priorities refined and your needs and a vision of what the future may hold established must stack the offers on top of one another and see which case is the best fit for your life and career.

Again, remember that it’s important to get paid respectably but it’s the extras that are often valued the most and provided as backing.

It is always completely overwhelming to evaluate an offer, however, with a criteria setting that is going to be discussed, you can make a confident decision that can be based on the present necessities as well as future aspirations.

Aashish Singhal

Founder, Navigating Leadership with The Financial Soul

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