Creative Compensation Suggestions: Five Things to Negotiate for Compensation
Five Things to Negotiate for Creative Compensation
Salary can be a tricky thing to negotiate. When walking into a new job, or even re-evaluating your current contract with a company, an increase in salary may not be an option. However, there are several things you could request in place of a raise. It never hurts to ask and the worst thing your employer can say is ‘no.’
Paying someone to take care of your child while you work is not inexpensive. Ask about what childcare options your company offers. Some of the time there will be an on-site facility or an allotted amount that employees with young children have access to. If those aren’t already in place, make the request for company reimbursement for at least a partial amount of your daycare costs.
Commuting can be expensive. Some companies already pay for business travel so this may not be something you can add to your compensation. However, day-to-day travel is probably not part of that agreement. To inquire about this, you should calculate your monthly travel expenses and propose a stipend that will ease the expense.
Not everyone starts a job with multiple degrees already under their belt. You should feel comfortable asking about reimbursement for bettering your education. Not only will you gain the knowledge, but your company will be making an investment in you. The education could be things as small as workshops and seminars, but as large as an associate, bachelor, or master degrees. Education equals career enhancement. Many companies already have these programs in place and if your company does not already offer this, sell it to them.
A New Title
‘Secretary’ is just a general title for someone who does all the administrative work in the office. In this example, ‘administrative/corporate executive assistant’ says more about what you do as a ‘secretary.’ Asking for a title that accurately reflects your work will help you feel more content in your current position, but will also display your talents when you are looking for another position in the future.
This is a great thing to ask for as far as a non-salary related perk is concerned. If you’re a morning person, you could negotiate to work from 7:00AM – 3:00PM instead of the typical 9:00AM – 5:00PM. You can also look into telecommuting as an option. It probably won’t work out so that you work full-time from home, but part-time telecommuting can cut down on your drive time and your travel spending. Hopefully, that balance – having a more relaxed schedule and not commuting every single day – will make up for the lack in increased salary.
Guaranteed Severance Package
There is no guarantee that the job you currently have or are being hired for will still exist a year or several years from now. Establishing a severance package in your contract will add extra security should the company go out of business. With this severance package, you company will think twice about the possibility of laying you off or removing your position.
More Vacation Time
Whatever vacation time the company offers, you can ask for things that will sweeten the deal. One thing to address, if you don’t have it already, is paid vacation time. You could also see if the vacation time can be doubled. Having more vacation days, whether you take days to rest at home or travel to relax on a beach, could be worth not having a higher salary.
You will never know the answer if you don’t ask and again, the worst thing your employer can say is ‘no.’ Increasing your salary may be out of the question, but there are other things that can fulfill your compensation needs. When working on your contract, initial or renewal, with your employer or human resource manager keep non-salary related compensation options in the back of your mind.
By Kaley Buck, Five Strengths Contributor
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