She Strengthens

Unlock the Hidden Value in Your Employee Benefits

When it comes to compensation, most people focus on their salary, but did you know that your employee benefits can account for up to 30% of your total compensation? It’s time to dust off that HR folder or schedule a meeting with HR to uncover the hidden gems that can boost your financial standing.

The Benefits You’re Leaving on the Table

You may not remember the details of your employee benefits, but it’s essential to review them to maximize your compensation. Here are three commonly underutilized benefits that can cost you thousands of dollars each year if neglected:

1. 401(k) and Employee Matching: Free Money Awaits

If your employer matches your 401(k) contributions, not taking full advantage of it means leaving free money on the table. For example, if your employer matches 5% of your salary, and you contribute less, you’re essentially reducing your total compensation by the matching amount each year. Prioritize building an emergency fund, but don’t miss out on this opportunity to boost your long-term savings.

2. Wellness Programs: Get Paid to Be Healthy

Your employer likely pays a significant portion of your health insurance premium, which means they have a vested interest in keeping you healthy. Many companies offer wellness programs with financial incentives, such as gym memberships, healthcare reimbursements, or cash rewards, to encourage a healthier workforce. Take advantage of these programs to improve your well-being and pad your wallet.

3. Corporate Discounts and Partnerships: Savings Galore

You may be familiar with employee discounts on company products or services, but did you know that your employer may have contracts with other vendors offering exclusive discounts? These can include savings on cell phone bills, electronics, rental cars, or even group insurance policies. By taking advantage of these discounts, you can reduce your monthly expenses and effectively increase your compensation.

Maximize Your Benefits, Maximize Your Compensation

Don’t let these benefits go to waste. Review your HR packet or contact HR to learn more about how you can increase your total compensation without asking for a raise. By taking advantage of these often-overlooked benefits, you can improve your financial standing and achieve your goals.