1 00:00:03,480 --> 00:00:09,360 Speaker 1: Welcome to Before Breakfast, a production of iHeartRadio. Good Morning, 2 00:00:10,720 --> 00:00:17,080 Speaker 1: This is Laura, Welcome to the Before Breakfast podcast. Today's 3 00:00:17,120 --> 00:00:22,480 Speaker 1: tip is to get to know your benefits, yours and 4 00:00:22,600 --> 00:00:26,840 Speaker 1: your spouse's if you happen to be married. Many larger 5 00:00:27,000 --> 00:00:33,640 Speaker 1: organizations and some professional organizations offer a wide range of perks. 6 00:00:34,479 --> 00:00:38,960 Speaker 1: Some of these are significant, some are less so. But 7 00:00:39,200 --> 00:00:42,280 Speaker 1: using your benefits allows you to take advantage of your 8 00:00:42,400 --> 00:00:47,080 Speaker 1: full compensation even if you're not sure a raise is 9 00:00:47,080 --> 00:00:50,920 Speaker 1: in the cards right now. Using more of your benefits 10 00:00:50,960 --> 00:00:54,920 Speaker 1: can be the equivalent, and you probably don't have to 11 00:00:54,960 --> 00:01:00,319 Speaker 1: negotiate for that. So where shall we start with our 12 00:01:00,320 --> 00:01:04,720 Speaker 1: tour of benefits? Many of my American listeners have employer 13 00:01:04,880 --> 00:01:08,920 Speaker 1: provided health insurance, which is probably the biggest part of 14 00:01:08,959 --> 00:01:13,080 Speaker 1: any benefit package. Make sure you know what is covered 15 00:01:13,120 --> 00:01:16,960 Speaker 1: and what is not. But beyond the obvious doctor visits 16 00:01:17,000 --> 00:01:21,880 Speaker 1: and hospital stays, look at any other perks. Does your 17 00:01:21,920 --> 00:01:26,560 Speaker 1: insurance reimburse for a gym membership or for weight loss 18 00:01:26,720 --> 00:01:32,640 Speaker 1: or smoking cessation programs? What about glasses dental work? If 19 00:01:32,640 --> 00:01:36,160 Speaker 1: you are pondering switching jobs and your current one has 20 00:01:36,280 --> 00:01:40,240 Speaker 1: good orthodonic benefits, maybe you should get your kids in 21 00:01:40,280 --> 00:01:45,479 Speaker 1: to see someone sooner rather than later. If you get 22 00:01:45,480 --> 00:01:49,240 Speaker 1: a steep discount at a particular gym chain, it might 23 00:01:49,280 --> 00:01:53,560 Speaker 1: be worth going there rather than somewhere else if the 24 00:01:53,600 --> 00:01:59,240 Speaker 1: price is right. You also want to maximize any retirement benefits. 25 00:02:00,520 --> 00:02:04,200 Speaker 1: Many people make elections when they get hired, and then 26 00:02:04,240 --> 00:02:09,240 Speaker 1: they don't think about this for years. Now is a 27 00:02:09,240 --> 00:02:13,119 Speaker 1: good time to think about it. If your employer provides 28 00:02:13,160 --> 00:02:16,800 Speaker 1: a retirement match or your spouse's does, make sure you 29 00:02:16,840 --> 00:02:20,600 Speaker 1: contribute enough to get that full match. If you are 30 00:02:20,639 --> 00:02:25,360 Speaker 1: not doing that, turn off this podcast and call human 31 00:02:25,400 --> 00:02:30,880 Speaker 1: resources right now. If you are driving, send that note 32 00:02:30,919 --> 00:02:34,040 Speaker 1: as soon as you get where you are going. A 33 00:02:34,120 --> 00:02:37,760 Speaker 1: one to one match means anything you contribute gets an 34 00:02:37,800 --> 00:02:43,640 Speaker 1: immediate one hundred percent return on investment. Best not to 35 00:02:43,760 --> 00:02:48,320 Speaker 1: leave that on the table. You also want to make 36 00:02:48,360 --> 00:02:53,760 Speaker 1: sure you understand policies about time off. Paid time off 37 00:02:53,840 --> 00:02:57,560 Speaker 1: is definitely part of your compensation, so make sure you 38 00:02:57,720 --> 00:03:01,040 Speaker 1: know how many days you are eligible for and if 39 00:03:01,040 --> 00:03:04,560 Speaker 1: you can carry those forward into new years. If you 40 00:03:04,639 --> 00:03:08,040 Speaker 1: have a tendency not to take all of your vacation days, 41 00:03:08,720 --> 00:03:13,480 Speaker 1: go ahead and schedule a few random long weekends for 42 00:03:13,600 --> 00:03:18,880 Speaker 1: later in the year. Working fewer hours, but getting paid 43 00:03:18,919 --> 00:03:23,120 Speaker 1: the same amount is a very straightforward way to have 44 00:03:23,240 --> 00:03:28,920 Speaker 1: each working hour be better compensated. Some organizations have a 45 00:03:28,960 --> 00:03:33,839 Speaker 1: distinction between sick days and vacation days, so you want 46 00:03:33,880 --> 00:03:36,120 Speaker 1: to be sure that you are using the right amount 47 00:03:36,240 --> 00:03:40,920 Speaker 1: of both. If your company has any longer leave policies, 48 00:03:42,080 --> 00:03:44,200 Speaker 1: you might want to think about whether you would use 49 00:03:44,240 --> 00:03:47,360 Speaker 1: those this year or maybe at some point in the future. 50 00:03:49,200 --> 00:03:52,200 Speaker 1: Once you have a handle on those policies for yourself 51 00:03:52,360 --> 00:03:56,760 Speaker 1: and for your spouse, start reading a little deeper into 52 00:03:56,800 --> 00:04:03,400 Speaker 1: the employee handbook. Some company have employee assistance programs, which 53 00:04:03,400 --> 00:04:06,000 Speaker 1: can help with things like finding a therapist for a 54 00:04:06,080 --> 00:04:09,560 Speaker 1: child to see on an ongoing basis, or maybe they 55 00:04:09,560 --> 00:04:12,200 Speaker 1: can help you find a mover if you are relocating, 56 00:04:13,160 --> 00:04:16,000 Speaker 1: or help you choose a retirement home for older relatives. 57 00:04:17,320 --> 00:04:21,800 Speaker 1: Some places offer commuting benefits. Buying a subway card with 58 00:04:21,920 --> 00:04:26,880 Speaker 1: pre tax money definitely beats buying one with post tax money. 59 00:04:28,480 --> 00:04:32,159 Speaker 1: A number of places offer some sort of backup childcare benefit. 60 00:04:33,360 --> 00:04:37,039 Speaker 1: When we had some childcare issues this past summer, we 61 00:04:37,200 --> 00:04:40,760 Speaker 1: learned that my husband's employer offered the equivalent of a 62 00:04:40,800 --> 00:04:44,240 Speaker 1: few weeks of backup care at a daycare center near 63 00:04:44,279 --> 00:04:48,839 Speaker 1: his office. To take advantage of that, though we needed 64 00:04:48,839 --> 00:04:53,359 Speaker 1: to be registered with the center. Now we are, and 65 00:04:53,440 --> 00:04:57,520 Speaker 1: if you might ever face a similar situation, you should 66 00:04:57,600 --> 00:05:01,520 Speaker 1: likewise see what benefits your employer offered to keep you 67 00:05:01,600 --> 00:05:08,680 Speaker 1: productive even when life doesn't go as planned. Some large employers, 68 00:05:08,760 --> 00:05:14,000 Speaker 1: and even some professional or civic organizations, negotiate discounts for 69 00:05:14,080 --> 00:05:18,120 Speaker 1: things like cell phone contracts, or computers or car rentals 70 00:05:18,120 --> 00:05:21,960 Speaker 1: for personal use. A great many years ago, when I 71 00:05:22,040 --> 00:05:25,239 Speaker 1: was an intern at a major corporation in New York City, 72 00:05:26,160 --> 00:05:28,880 Speaker 1: I learned we got free entry to a number of museums. 73 00:05:29,920 --> 00:05:34,800 Speaker 1: Who knew well, I did because I am cheap and 74 00:05:34,880 --> 00:05:38,800 Speaker 1: I asked. But if you don't ask, you won't know. 75 00:05:39,520 --> 00:05:42,680 Speaker 1: You won't know that because you work for a particular employer, 76 00:05:43,440 --> 00:05:46,720 Speaker 1: you can go to the local history museum for free. 77 00:05:47,000 --> 00:05:50,000 Speaker 1: Since you don't know that, you either buy the tickets 78 00:05:50,080 --> 00:05:53,039 Speaker 1: or you go somewhere else when you could have had 79 00:05:53,080 --> 00:05:57,919 Speaker 1: a free weekend family activity. Now, in the grand scheme 80 00:05:57,960 --> 00:06:01,200 Speaker 1: of things, that is not so big a deal. You 81 00:06:01,240 --> 00:06:05,000 Speaker 1: shouldn't join a gym you hate just for the corporate discount, 82 00:06:05,839 --> 00:06:09,280 Speaker 1: and you shouldn't skip the art museum because your employer 83 00:06:09,320 --> 00:06:13,880 Speaker 1: doesn't have a corporate membership there. But in situations where 84 00:06:13,880 --> 00:06:18,479 Speaker 1: you don't have a strong preference, why not take advantage 85 00:06:18,800 --> 00:06:21,960 Speaker 1: of the equivalent of a raise. You don't have to 86 00:06:22,040 --> 00:06:26,800 Speaker 1: ask for. It's there for the taking, but many people 87 00:06:26,839 --> 00:06:31,200 Speaker 1: don't take it. To be sure you do, you might 88 00:06:31,279 --> 00:06:34,320 Speaker 1: even ask your HR rep what benefits they think are 89 00:06:34,360 --> 00:06:38,680 Speaker 1: great but are under utilized. You might be surprised to 90 00:06:38,760 --> 00:06:42,800 Speaker 1: learn about something that you or your family members could 91 00:06:42,800 --> 00:06:47,360 Speaker 1: definitely use. And if you are an HR leader or 92 00:06:47,440 --> 00:06:51,680 Speaker 1: lead an organization that offers any sort of benefits, I 93 00:06:51,720 --> 00:06:54,640 Speaker 1: think it's smart to let people know what is available. 94 00:06:55,920 --> 00:07:00,440 Speaker 1: If you do any regular communications with your employees, maybe 95 00:07:00,520 --> 00:07:04,960 Speaker 1: highlight a different benefit in each newsletter and showcase an 96 00:07:04,960 --> 00:07:09,080 Speaker 1: employee who use the benefit in situations where that is appropriate. 97 00:07:10,560 --> 00:07:17,120 Speaker 1: Presumably you offer such benefits for a reason, namely, they 98 00:07:17,120 --> 00:07:20,720 Speaker 1: make people think your organization is a good place to work. 99 00:07:22,200 --> 00:07:26,360 Speaker 1: When people know about the benefits and use them, they 100 00:07:26,400 --> 00:07:31,240 Speaker 1: feel more tied to the organization. Let's put it this way, 101 00:07:32,680 --> 00:07:37,480 Speaker 1: if someone sticks around for an extra year, that is 102 00:07:37,640 --> 00:07:42,800 Speaker 1: totally worth their gym discount. If you get to know 103 00:07:42,840 --> 00:07:45,120 Speaker 1: your benefits, I would love to hear what you learn 104 00:07:46,040 --> 00:07:51,120 Speaker 1: you can reach me at Laura at Laura vandercam dot com. 105 00:07:52,440 --> 00:07:57,800 Speaker 1: In the meantime, this is Laura. Thanks for listening and 106 00:07:57,880 --> 00:08:08,720 Speaker 1: here's to making the most of our time. Hey, everybody, 107 00:08:08,920 --> 00:08:11,040 Speaker 1: I'd love to hear from you. You can send me 108 00:08:11,080 --> 00:08:14,720 Speaker 1: your tips, your questions, or anything else. Just connect with 109 00:08:14,760 --> 00:08:19,160 Speaker 1: me on Twitter, Facebook and Instagram at Before Breakfast Pod. 110 00:08:19,840 --> 00:08:25,120 Speaker 1: That's b E the number four then Breakfast pod. You 111 00:08:25,120 --> 00:08:28,640 Speaker 1: can also shoot me an email at Before Breakfast Podcasts 112 00:08:28,680 --> 00:08:32,040 Speaker 1: at iHeartMedia dot com. That Before Breakfast is spelled out 113 00:08:32,040 --> 00:08:34,480 Speaker 1: with all the letters. Thanks so much. Should I look 114 00:08:34,520 --> 00:08:42,840 Speaker 1: forward to staying in touch. Before Breakfast is a production 115 00:08:42,920 --> 00:08:48,280 Speaker 1: of iHeartRadio. For more podcasts from iHeartRadio, visit the iHeartRadio app, 116 00:08:48,559 --> 00:09:00,199 Speaker 1: Apple Podcasts, or wherever you listen to your favorite shows.