It’s not all about the $ – Compensation package innovation

Salaries are just the starting point for compensation of your work.  You need to consider some other ways that you can be rewarded for your efforts. Here are a few other things to think about regarding work benefits.

Bonuses and Commissions:

Will you get a percentage of new business you generate for the company or if your existing account increases in revenue?  If you hit the goals set by the company; is there monetary payment to you? It’s always nice to get extra money in your paycheck for hard work that you’ve done.

Reimbursement for Daycare, Tuition, or Transportation:

Does the company have a policy to cover costs for you to be in the office?  Will you get paid back for transportation that is required for your job – gas, tolls, train, or bus?  If you need to go out-of-town; does the company cover the cost of someone to care for your children? Maybe the company has a day-care or provides activities when your children are off from school?  If you need to learn new skills to advance in your career, does the company pay for courses?

Flexible Schedule:

In this global market work isn’t just 9 to 5, so what will your office hours be?  Are you a night owl doing your best work in the late afternoon/evening? Flex hours are another way to get compensation.  It allows you to better balance your work with your life. Instead of working 5 days a week in the office – will the company allow you to telecommute?  Working from home might be exactly what you are looking for, instead of additional money in your pocket.

Office, Title, and Clothing:

Other items might be important to you.  Do you have your eye on that corner office?  Are you looking to get a new title to reflect your current responsibilities?  A title will help when you have your next review with your manager showing that you are climbing the company ladder.  The company might also have a budget for clothing – you’ll need to dress for success if you are representing your firm with high-end power clients.

Compensation today comes in many different forms.  Evaluate what your needs are and see if the company has benefits to address them.  Remember it might not always be about the money.

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