Negotiating employment benefits: as valuable as a raise

Congratulations! You’ve just landed a job with a good salary and flexible schedule. But what about your employment benefits?

In addition to salary and working hours, employment benefits are part of the terms and conditions of employment.

• Regardless of the sector in which you work, every employer has the opportunity to offer their choice of employment benefits to their employees.
• To learn what you could be eligible for, check your contract of employment or your union’s collective agreement.

Depending on the company, employment benefits can be as varied as they are beneficial. Here is a list of some of the employment benefits that can be offered to workers:

• A group insurance plan (dental, illness, eye care, life)
• A pension plan
• Vacation time (over and above the minimum provided by law)
• Paid leave (floating holidays)
• Sick leave
• The opportunity to take unpaid leave without loss of seniority
• Disability insurance
• Travel assistance
• Professional development training and conferences
• Reimbursement of certain school fees
• Development of a flexible work schedule
• The possibility of telecommuting
• Access to a gym or reimbursement of a fitness centre membership
• Childcare facilities
• Financial incentives to use public transit
• An employee assistance program (access to confidential counselling)

Take note—some employment benefits are taxable.

Employment benefits are a bonus for employees, but employers, too, can also benefit from the establishment of employment benefits within their business.

• Of course, offering employees three weeks of paid vacation from the outset or dental insurance is a significant expense for an employer.

Indeed, these extras can increase labour costs by up to 40 per cent.

• However, offering favourable conditions can attract and retain the best candidates, which is reflected in a reduction of employee turnover.
• Good employment benefits even lead to reduced absenteeism and increased employee productivity.

Have you worked for the same company for several years?

• Just as with a raise, some benefits can be negotiated with your employer.
• You should look at income (salary or wage) and benefits as two parts of a whole remuneration package.
• Also, consider your needs, and those of your family. Being able to benefit from complete group insurance (be it medical, eye care or dental care) for your entire family can be more advantageous than getting a few dollars more on your paycheque.