#JobSearch #Friday – LET US TALK ABOUT VALUE OF TOTAL COMPENSATION

Too often professionals lock in their need for a specific level of salary compensation without spending time to learn the value of other forms of compensation. This is a huge mistake.

I understand that we all have bills. And that we have to pay those bills. For professionals with children in their later high school years, they may wonder how on earth they will pay those college tuition bills?

However, salary is not the only form of valuable compensation.

What Should Be My First Priority?

Answer these questions before deciding on an offer –

  1. Am I EXCITED about the position? If not, remember that you will minimally spend 207 hours per month in your job – and that does not count commuting time. Your full-time work hours typically total 2080 hours for a year, not counting lunches nor extra time working to meet deadlines.
  2. What did I earn annually in my last position?
  3. What is the minimum I can live on? Remember, some outstanding forms of compensation are more valuable over time.

Decide whether this new team will be fun to work with. Will the manager support you – or do you feel they may undercut you?

Will this new position provide professional growth? What will you learn in this position? Does the position, company, and industry interest you?

If you feel all of the above responses are positive, it is time to examine the company’s offer.

What Does The Company’s Offer Tell YOU?

The offer that you receive from the company informs you how highly the company values the job and their perceived contribution from you.

Remember money is not everything…but it sure is nice when you have it. It is not worth the price you will pay if you are banging your head against the wall because the manager values your service too low.

Let us say that everything is looking very positive at this point.

What Is the Next Step?

Research the total compensation package that was offered to you. Why use the word “research?” I learn new potential forms of compensation annually. When will companies pay your salary in Bitcoin? Some may already. How will this form of compensation benefit you and your family?

Is the company a company that provides an Employee Stock Option Plan (ESOP)? If so, every member of staff benefits when the employer does well. These stock options grants may grow your compensation beyond your total salary and bonus. I worked for a pre-IPO start-up and received stock options. Initially, the stock options had a lower value. Once the company went public and split several times, we used that money to pay for our daughter’s private college education.  My total salary compensation did not touch the stock option’s total. Now you understand the potential benefit of a stock option plan.

If you have a wealth of experience, always ask for an extra week’s PTO or vacation. It is well documented how few of us take all of our vacations.  Therefore, companies are more willing to add a week of PTO to attract the right talent.

What is the company contribution to your 401(k) or 403(b)? How high do they match your contributions? This is another form of compensation that may grow substantially over time.

How strong are their health benefits? What are your out of pocket costs?

If the company is interested in you, but their salary offer is a little low, ask the manager if they could offer a sign-on bonus to make you whole for the first year while you are confirming your worth to the company? The bonuses come out of a different financial bucket than salaries. They do not impact team equity compensation as much.

Once your research and negotiations are completed, jump into the new position with both feet and make positive, measurable impacts – and Have Fun!

Networking is the best practice to find a new career!  I wrote my books to duplicate my efforts to assist you in your search. My expert experience as both a Recruiter and Career Coach gives me a perspective few professionals have. My Salary Negotiation script solves that pain point for most career seekers. To accelerate your #Jobsearch, please immediately click on this link to my recent book, Employee 5.0: Secrets Of A Successful Job Search In The New World Orderhttp://amzn.to/2D9w39f  My book contains the 12 Steps to find a new career in a nice, orderly fashion that follows your sales process.  According to a newspaper review, “It is refreshing to find an author who speaks With you and not At you!” It also has the stories of people who did well – and some who did not. You may learn from both sides.

If you feel the need for professional Career Coaching, my business has 3 different packages. I work closely with Professionals in all three packages. The primary difference is the time and personal requirements.

  1. The first package is the 2 meetings Introductory Package.  The 2 meetings cover the basics of a Career Search.
  2. The second package is the 6 month Gold Package. This package provides you with Career Search guidance and Career Coaching for your first months in your new position.
  3. The third package is the Titanium package. Call me for details on this package because it is tailored specifically for the individual.

My Talent Attraction business model is to work with one company at a time and charge a flat monthly fee.  This enables me to become part of a company’s team for short or long periods.  Therefore, I know what is going on behind the curtain that candidates and authors outside of my field cannot see.

I am here to help you further each week.  Feel free to click on Follow US and Share at the bottom of our blog.

See you on Fridays!

Coming Soon, my third book on Finding A New CareerExpect Success!  The Science Of The Over 50 Career Search!  If you would like to buy a copy before its release, contact me at Bill@RecruiterGuy.com. The first copies will be available in early August.

Bill Humbert is available for Speaking, Talent Attraction Consulting, Career Transition Consulting, and Training contracts.

https://recruiterguy.com/   Bill@RecruiterGuy.com  435-714-4425

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