Employers everywhere are tightening their belts in response to the current financial crisis. A good deal of employers are already past cutting travel and other expenses and are looking at payroll to keep costs in check. This complicates matters for any employee who is up for a raise right now, myself included. Thankfully CNN has a list of six benefits to barter for if a pay hike is out of the question.
The benefits compiled in partnership with Careerbuilder.com include the following:
- Time off
- Relaxed dress code
- Education opportunities
- Going green bonuses
- Flexible schedules
- Wellness benefits
I found this list to be quite useful since the timing on my negotiation for a raise is what can be referred to as unfortunate to say the least, and I may have to settle for perks rather than cash. While I am a big fan of using perks such as the ability to work from home, flexible schedules and a relaxed dress code to retain employees during good economic times they are a poor substitute for cash when expenses are rising. Have you tried paying your mortgage in casual Fridays? The banks aren't that desperate....yet.
Sadly with the bailout having little positive effect on the stock market it looks like employees looking for compensation will have to make do with perks rather than payment for the time being. Then again if you work for AIG, a recipient of government funding, the perks may be worth it!