Company Benefits/Perks Question

[IDBillzFan]

Just curious from anyone willing to offer an opinion:

 

Outside of bonus money, what kinds of benefits or perks does your employer offer to you that you and your co-workers consider valuable? Is there a benefit or perk you receive that you consider unusual, creative, unique, etc?

 

Think in terms of:

 

- gym memberships

- 401K (matching)

- picking up the tab to fly your spouse with you on a business trip

- improved/expanded health care coverage

 

Alternately, do they tout benefits that you all consider crappy and worthless?

 

Any and all comments and input are welcome.

 

Thanks in advance.

[dpbillsfan]

The past two companies I worked for both had great 401K's where they matched dollar for dollar up to 6%. They also both closed down. As I'm out looking for a new gig I'm finding the matches on 401K's aren't as good. Every company thinks their benefits are the best, but some really suck.

[sullim4]

We get a free membership to the local gym, free beverages, offices instead of cubes, and free health care that covers 100% of pretty much everything without a copay. Our 401(k) is pretty standard though - 50% match up to the first 6%.

[JimBob2232]

Matching 100% up to 5 percent 401K, 4 weeks vacation a year.

[MadBuffaloDisease]

Friends with benefits is the best!

[VABills]

increasing vacation so after 8 years you get 4 weeks

50% match on 401k

paid personal medical/dental - reduced for family or partner

ability to get reduced BJ club prices

fully reimburse for college classes is job related and you get a C or better

Senior staff get stock options (maybe not anymore we just got bought)

 

probably more but that all I can think of now

 

Edit:

We get double our salary in life with another double if in an accident

We can buy long and short term disability

We can buy an extra week of vacation

We have vacation share to help other that maybe extended sick

5 sick days, and all federal holiday

flexible spending for medical, daycare and pretax purchase of metrochecks

employee referral program (we get 3k for every employee referred)

 

 

Another edit:

 

I want my wifes benefits BTW

 

They start with 2 weeks of vacation and then add a day for every year the work there - no cap. She has been there 24 years.

She gets 5% into a "pension" system that earns above normal bank rates but not under the empoyer control so fully guaranteed

plus she gets unlimited sick

plus on the 401k that contribute the first 3% free, then match 100% on the next 5%, then they match 50% on the next 5%. So basically she puts in 10% and gets 20.5% of her salary pumped into her 401k.

[KD in CA]

A 401(k) match is by far the best benefit. Unfortunately, in many companies people are restricted from taking full advantage because their ignorant co-workers don't participate at all.

 

Having good medical, dental, vision, life, disability, etc. are all good ones. The key there is hte breakdown between how much the company pays and how much the employee pays. IMO, it always makes sense to have the employees contribute at least a little bit so they are aware that benefits don't grow on trees. We also do the gym membership and the pre-tax transit option (for those in cities with mass transit options).

 

Also, a big draw for me to my current company is the stock options. They might up with worth squat, but then again, they might end up worth a pretty penny.

[/dev/null]

401k - 25% match up to 6%

Stock plan. Buy company stock at the end of a fiscal quarter for the lowest price during that quarter

3 weeks paid vacation (starting). Goes up the longer you're there

Unlimited sick leave

New GM automobiles at the price dealerships pay

Tuition reimbursement

Decent medical/dental/insurance options. I end up paying less than $1k / year for some nice benefits

[erynthered]

Mustang Ranch pass for 10 years. ( blood work included )

Eyebrow waxing

High colonic detoxification sessions.

Free spaying and Neutering for your pets and yourself.

Bust enhancements with a minimum requirement of DD, paid for, by you.

Collagen injections for life. ( Its all included in the Joan Rivers package)

Tantric Sex seminars for life.

 

 

Its so nice you care about your employees. This is a start. I'm sure I can think of more. However, I'm a little busy right now.

 

Go Big business!!!!!!!!!!!!!

[bills_fan]

The good benefits...

 

1- 401k Match - 4% match on 401k, 2% discretionary (have matched discretionary every year I've been here).

 

2- Life Insurance - They give us life insurance equal to 6x's our salary, plus an extra $500k if your death is accidental.

 

3- Education Payments - They pay for my Continuing Legal Education courses and my State Bar Membership

 

4- Disability - Will pay me 50% of my salary tax free if I go out on long term disability.

 

5 - Flex Time - We have the ability to take a free flex day every other week, as long as we worked the requisite 8 hours in the preceding 9 work days. Basically I have every other Friday off for free.

 

6 - Car Service - This is a must in NYC. After 9 PM, free car service home.

 

The bad benefits (more of what I don't have, I never want to call something a "bad" benefit, I may not use it, because someone else may)...

 

1- Life Insurance - Can't get the same 6x my salary deal on my wife. Only can take 25k on her.

 

2- Gym membership - I really wish we had this.

 

3- Corporate Events - At my company it may be a bit of a conflict of interest, but perks such as Yankee Tickets or the ability to use an area country club once a summer would be nice.

 

I never heard the fly your spouse on a business trip thing, thats pretty cool.

[MadBuffaloDisease]

When you guys say 25% match up to 6% of 401k, what exactly does that mean? Is it 6% of what you can contribute annually?

[KD in CA]

When you guys say 25% match up to 6% of 401k, what exactly does that mean? Is it 6% of what you can contribute annually?

 

 

I means that for each dollar you put in, the company will add $.25. The limit is 6% of your salary; if you contribute more than that they won't match on the incremental amount. In effect, it's a max benefit of 1.5% of your salary.

 

Our company has 100% on the first 3% and 50% on the next 2%. Basically a 4% of salary benefit but you have to contribute 5% of your salary to get the max match.

 

 

 

Stock plan. Buy company stock at the end of a fiscal quarter for the lowest price during that quarter

 

ESOPs are a great deal for employees in public companies.

[Fezmid]

My previous company had a nice 401(k) plan. They matched 100% of the first 4% you contribute (ie: contribute 4%, get 4% matched). In addition, they give another 3% of your salary once a year. The downside is that you get it in August of the following year and you have to be employed on that day to get it. For example, if you work Jan 1-Dec31st 2006, you won't get the 3% bonus until August 2007, and you have to still be employed to get it. Still, it's pretty nice, giving you in essence 7% of your salary into 401(k) BEFORE your contributions.

 

My current company has a decent stock purchase plan. You enroll once every 6 months, and they buy stock at 15% discount from the lowest point on the first or last day of the plan (ie: if the stock is $30/share on Jul 1st, and is $50/share on Dec 31st, you buy shares at $25.50). You can contribute up to 10% of your salary into this.

 

Regular benefits are "weird." The company gives you 60 credits, each credit is worth $1, and you put them towards your benefits. So health insurance is $30/pay period, you can put 60 credits towards that, and not pay anything for health. You can then buy life insurance, dental, vision, etc. Works out nice.

 

I can (unofficially) work from home if I need to, that's also an awesome benefit.

 

CW

[The Poojer]

at circuit we get some good perks, often get cd's, dvd's. if you ask the right people you can get other products. i have gotten external hard drive, OS, etc..we also have different entertainers perform at our office. we also have mobile shows in the parking lot with vendors showing off their wares...its generally a fun place to work

[DC Tom]

Just curious from anyone willing to offer an opinion:

 

Outside of bonus money, what kinds of benefits or perks does your employer offer to you that you and your co-workers consider valuable? Is there a benefit or perk you receive that you consider unusual, creative, unique, etc?

 

Think in terms of:

 

- gym memberships

- 401K (matching)

- picking up the tab to fly your spouse with you on a business trip

- improved/expanded health care coverage

 

Alternately, do they tout benefits that you all consider crappy and worthless?

 

Any and all comments and input are welcome.

 

Thanks in advance.

 

Best benefit I have is sick time: you're sick, you take time. You don't collect x hours per paycheck, you don't get X sick days per year, you don't use any personal time. You're sick, you tell them you're sick, you don't work, you get paid anyway (short-term disability kicks in after 13 days or something, so it's not like it's open-ended).

 

And in a company of 50+ people (may be 60 now, expected to be near 100 by the end of the year) no one abuses the privilege, believe it or not.

[dpbillsfan]

increasing vacation so after 8 years you get 4 weeks

50% match on 401k

paid personal medical/dental - reduced for family or partner

ability to get reduced BJ club prices

fully reimburse for college classes is job related and you get a C or better

Senior staff get stock options (maybe not anymore we just got bought)

 

probably more but that all I can think of now

 

Edit:

We get double our salary in life with another double if in an accident

We can buy long and short term disability

We can buy an extra week of vacation

We have vacation share to help other that maybe extended sick

5 sick days, and all federal holiday

flexible spending for medical, daycare and pretax purchase of metrochecks

employee referral program (we get 3k for every employee referred)

Another edit:

 

I want my wifes benefits BTW

 

They start with 2 weeks of vacation and then add a day for every year the work there - no cap. She has been there 24 years.

She gets 5% into a "pension" system that earns above normal bank rates but not under the empoyer control so fully guaranteed

plus she gets unlimited sick

plus on the 401k that contribute the first 3% free, then match 100% on the next 5%, then they match 50% on the next 5%. So basically she puts in 10% and gets 20.5% of her salary pumped into her 401k.

 

Holy cow Vabills, where does your wife work if I may ask?

[IDBillzFan]

Best benefit I have is sick time: you're sick, you take time. You don't collect x hours per paycheck, you don't get X sick days per year, you don't use any personal time. You're sick, you tell them you're sick, you don't work, you get paid anyway (short-term disability kicks in after 13 days or something, so it's not like it's open-ended).

 

And in a company of 50+ people (may be 60 now, expected to be near 100 by the end of the year) no one abuses the privilege, believe it or not.

We're really small (there's four of us) so my guys have very flexible schedules, especially because they each work from home. They get two weeks vacation, all the sick time they need, and essentially work their own hours provided they get their work done. For example, they can take a day off to bring their child to Disney, and it's not a vacation day because they'll put in some hours that night. They get full health benefits paid for their entire family, and at least for the past two years they've gotten a Christmas bonus in the $2000 range. They get reimbursed immediately for any expenses, as well.

 

The thing is, sometimes we get really busy and they really have to hump it (weekends, longs days, last-minute travel, etc), and while it's easy to just say "Here's an extra grand for the effort", unfortunately that's the kind of thing that ultimately becomes expected.

 

But I think maybe I don't give enough credit to things like unlimited sick time and flex hours. I've been thinking about letting them expense their vacations, but that's a dangerous precedent.

 

I really appreciate everyone's input. I'm impressed with how many people bring up a 401K program.

[dpbillsfan]

I really appreciate everyone's input. I'm impressed with how many people bring up a 401K program.

 

401K is a big deal to me. And when you get a 100% return on your money right off the bat you can't beat it. Now if I could find an employer that has a plan like VABills wife then I would be set.

 

Company paid health care would be great to, but I've never had that option.

[Stevie Ray]

I've been thinking about letting them expense their vacations, but that's a dangerous precedent.

 

Nice thought, but DONT DO IT! It would be human nature to abuse that priviledge. It seems your overall perks are pretty good to begin with.

[DC Tom]

We're really small (there's four of us) so my guys have very flexible schedules, especially because they each work from home. They get two weeks vacation, all the sick time they need, and essentially work their own hours provided they get their work done. For example, they can take a day off to bring their child to Disney, and it's not a vacation day because they'll put in some hours that night. They get full health benefits paid for their entire family, and at least for the past two years they've gotten a Christmas bonus in the $2000 range. They get reimbursed immediately for any expenses, as well.

 

The thing is, sometimes we get really busy and they really have to hump it (weekends, longs days, last-minute travel, etc), and while it's easy to just say "Here's an extra grand for the effort", unfortunately that's the kind of thing that ultimately becomes expected.

 

But I think maybe I don't give enough credit to things like unlimited sick time and flex hours. I've been thinking about letting them expense their vacations, but that's a dangerous precedent.

 

I really appreciate everyone's input. I'm impressed with how many people bring up a 401K program.

 

Yeah, I mentioned it because with 50+ it's a rare and very nice perk...even beyond the time itself, the message from the company that they trust their employees is a very nice one as well. Something to keep in mind when you hit 50+...with 4, I don't see any other way to do it.

 

Really, my company doesn't have much in the way of outstanding benefits aside from that (401k is pedestrian - the match is pathetic, frankly; health insurance is average; vacation is three weeks annual; we're not supposed to work flex-time or dress casual, but I get special consideration because I'm both a genius and a recognized !@#$ing oddball ). What they really do is go out of their way (WAY out of their way, frankly) to make everyone feel they're contributing to the bottom line. Not only is that a very nice (and rare) perk, it attracts the kind of people who are motivated by accomplishment, and that make a small company successful.

 

Or at least I think so. But what the hell do I know? I'm a recognized !@#$ing oddball.