Posted: 8th of August 2018 by Tessa Fyson
#PandaPounds: Are benefits and annual leave important anymore?
What is the first thing you look for in a job description? Is it the salary, location, responsibilities or is it the benefits? Do you have a family and the prospect of being in a job with no health care or child care support is not acceptable?
This #PandaPounds segment will hopefully answer any questions you have!
A lot of the time in recruitment it is very much hit and miss as to whether additional benefits are important. For example, an employee with no children may not be concerned about child care benefits, but a professional with a family would be. Benefits do exactly what they say on the label, they are supposed to be additional exciting bonus’s that make our working day or work/life balance easier. But do professionals base a whole career decision purely on the benefits?
What benefits are available for Ecommerce employees?
We spoke to numerous participants who work across the Ecommerce industry at different seniority levels and profession. Working across analytics, digital marketing, digital design, performance marketing etc. From your point of view reading this, some of these benefits you might recognise and others, you may wish you had! Participants were invited to select more than one option, but we at cranberry panda were keen to see what is the most popular and what is a rare find!
Travel and transport
- Car – 2%
- Travel expenses – 20%
- Season ticket loans – 16%
- Cycle to work scheme – 20%
- Team outings – 26%
Money, money, money!
- Discretionary bonus – 24%
- Guaranteed bonus – 4%
- Personal bonus – 20%
- Company bonus – 25%
- Share option scheme – 13%
- Company credit card – 9%
- Non-contributory pension – 9%
- Contributory pension – 45%
Health care and other
- Private medical insurance – 26%
- Dental care – 14%
- Gym subsidy – 20%
- Child care benefits – 12%
- Flexible working – 31%
- Mobile phone – 22%
- No benefits received – 8%
What benefits are the most preferred option?
Let’s have a look at the above, shall we? Now, I know it may seem like a lot of numbers. Firstly, travel and transport do not seem to be a huge priority within a professional’s benefits. Whether it is due to not being offered or working in London requires less travel needs, it is not provided as much as we would maybe like. Down to the important part, money! Contributory pension was the highest provided benefit followed by company bonus. When speaking to clients it is often confirmed that depending on the company’s performance and the individual professionals, additional quarterly or yearly bonuses are possible. This would be a huge plus to anyone doubting a lower salary.
Lastly, health care and other! Flexible working is becoming increasingly popular and fashionable. The frequency at which I see remote workers in the likes of Starbucks and working from home is growing. Especially for those with children, travel problems and family commitments, flexible / remote working is a huge benefit!
Do benefits improve company culture?
- Yes, benefits help the company culture improve – 76%
- No, benefits do not make a difference to company culture – 12%
- Not sure – 12%
Were we really expecting a different answer?
How much of an increase do Ecommerce professionals expect when they move to a new role?
- 5% salary increase - 12%
- 10% salary increase - 34%
- 15% salary increase - 24%
- 20% salary increase - 22%
- Salary stay the same – 8%
It is hard to know whether a pay rise is essential or expected when moving to a new role. If it is a huge jump in seniority then absolutely, an increase salary is deserved. But, if you are moving from an assistant position to an executive title or taking a career side step, is the increase in salary essential if the opportunity will give you more career growth? 34 % of our correspondents would expect a 10% increase!
Is annual leave the most important benefit?
Is it just me, or is annual leave something that sparks joy in every employee? Even if you love your job, annual leave is that chance to break free from routine and tick some places of off that travel list. Work hard and then you can go away right? But, do you find your friends in other companies seem to get more annual leave then you? Are you in the minority for getting a good amount of time off?
- More than 25 days holiday – 29%
- Less than 25 days holiday – 71%
29% confirmed they get more then 25 days holiday, we would presume that the longer you are in a company and have a higher seniority you gain more annual leave. 71% of professionals get less then 25 days holiday. So, you may not be the only one craving more time to travel!
It is a very personal decision as to whether you want benefits included in your package or not. But, we would highly recommend getting all the facts when it comes to a new job offer. Definitely ensure you list what is important to you and that will make a huge difference for the positive.
Best of luck professionals! Remember, you may not be open to moving roles but there is no harm in assessing where you are and where you want to be.