In recent months I have been performing an extraordinary number of Valuations of PR agencies, reasons being intended sale of the firm, buy-ins of partners, buy-outs of partners or simply to get a reading on the worth of the firm.
One of the areas I closely analyze are employee perks. I have compiled a list of perks from firms I have reviewed.
Feel free to use it as a checklist in comparing your firm’s compensation package, beyond the salary.
You may even consider, as an option to your staff, offering some of these perks as an alternative to a raise. If the perk costs you the same amount and you get a write-off and it is tax-free to the employee it is a home run.
The P- List:
- Health Insurance
- Dental Insurance
- Vision Insurance
- Therapy for work related disorders
- Life Insurance
- Long-term Disability Insurance
- Short-term Disability Insurance
- Health Club Membership
- 401K Plan
- Direct Deposit
- Flexible Spending Account
- Credit Union Membership
- Travel Allowance
- Theme Park Discounts
- Store Memberships
- Legal Assistance
- Tax Assistance
- Financial Planning Assistance
- Personal Leave (Sick, Bereavement, ill relatives care etc.)
- Maternity Leave
- Paternity Leave
- Additional Vacation days
- Extended Holiday weekends
- Reduced work week
- Education and Courses
Please email me if you have any perks that are not on the P-list firstname.lastname@example.org I will than re-blog the list at a future date.
Please do not include corporate cars, motorcycles, limos, car services, corporate apartments, corporate yachts, corporate jets, baby sitters, nannies, daycare and dog walkers. The P-list should be perks offered to your professional staff. “Executive” perks and abuses will be covered in a future blog.
My advice - If you do provide perks to your staff include a list of the perks and the value to the staffer at year-end either with their W-2, bonus check or annual review. It can only help the mindset of the staff in assessing their worth and perceived value to the agency by its management.