3/28/2017

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Take Advantage Of Company Benefits

Many people work for years and never enroll in the benefit packages offered by their employers.

According to the Bureau of Labor Statistics, up to 30 percent of employee compensation is made up of benefits that are tied into packages offered by employers.

This means that if you are not participating in company sponsored programs, you are not taking full advantage of benefits that can help you and your family become more financially secure, especially as you start getting closer to retirement age.

In essence, you are losing money that could grow into a substantial amount over time. It may not seem that important now, but you may look back on it later and wonder how you could have let such important opportunities slip through your fingers.

Even so, in many cases, the opportunities are still on the table. It is never to late to start taking advantage of company offered investment options. The sooner you get involved, the quicker your money will grow.

You should always ask, and learn, about the benefits that are offered when you take a job. Many younger people don't know who or what to ask, so they put the benefits decisions off until a later time or indefinitely.

If you don't know about benefits, you should talk to your parents, grandparents, aunts and uncles, friends, and/or co-workers who have knowledge about benefits and how to make them work for you.

Ask your human resources department about all benefits that offered by your employer. This should be done as soon as possible. The longer you wait, the more money you lose.

Some benefits to ask about:

  • 401k matching fund contributions
  • Long term health care
  • Tuition reimbursement funds
  • Personal travel benefits
  • Car-pool benefits
  • Credit Union benefits
  • Clothing allowances
  • Restaurant discounts

Many employers offer great benefits that are not openly advertised to it's employees. You may have to do a little research to find them. The benefits are there but the only way to learn about them is to root them out.

You may be surprised to learn just how many employees within a company, even long time employees, don't know about certain company sponsored benefits. As an employee, you may be entitled to them but it is up to you locate and make the benefits work for you.

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