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Employee retention

10 benefits to push for when a pay raise isn't on the table

ByLee Hafner
December 4, 2023 5:30 AM
Employee having a discussion with manager
Adobe Stock

Company budgets are tight as we head into a new year — but employees still want to be rewarded for a job well done. If salary negotiation isn't an option, workers are preparing to ask for more employee benefits as a form of compensation.

Ninety-three percent of employers are concerned with retention, according to LinkedIn's 2023 Workplace Learning report, signaling a willingness to meet employee demands when fiscally possible. When asked what keeps them up at night, employees responded that financial security, mental and physical wellness, job security and career advancement were some of their top concerns, according to a survey from consulting firm Mercer. To help employees get the conversation going, FlexJobs gathered 10 in-demand benefits and perks to request in lieu of salary increases.

"Providing things that are a little outside the box tells an employee, 'We care about you in a holistic way,'" says Keith Spencer, a career expert at FlexJobs. "It shows we don't just care about you in terms of what you can produce for us, but we want to do things that help you learn, help you grow — fill your bucket, so to speak."

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From popular perks like increased schedule flexibility to an updated job title, FlexJobs' list appeals to a variety of personal and professional interests. Spencer recommends that employees make a list of things they would like to ask for, prioritize what is most important to them, and be prepared to negotiate. While an annual or end of year review can be a good time to bring up the conversation, a mid-year review is also a good time to bring things up before the company budget is exhausted, he says. 

Which of FlexJobs' 10 suggestions would enhance your experience at work?

Greater schedule flexibility

More than nine out of 10 employees want flexible work options, according to Slack. What this looks like can vary based on job and industry, but it's a great way to better manage obligations outside of work.

"Maybe it's just having the opportunity to flex your hours a little bit; for example, you're a  parent so mornings are particularly hectic for you," Spencer says. "Asking for the ability to come in an hour later than everyone but leave an hour later than everyone — that could factor into greater schedule flexibility. It could also mean having the ability to work from home occasionally, maybe a set number of days a week, or just when the need arises."

Flexible vacation time

Ownership over time off is important, and another way employers can offer increased flexibility. For employees requesting this as a benefit, Spencer notes that it is important to acknowledge the busiest times of the year for the business, demonstrating a level of care for your responsibilities at work.  

"Negotiate for additional time off, whether in hours, days, or in your accrual rate — tailor time off to your personal needs and the company's deliverables as well."

Home office stipends

Eighty-five percent of businesses use video conferencing technology and 70% of employees require the use of digital tools on a daily basis, according to Zipdo. Requesting updated tools and resources is a great way to streamline the workday, or a small stipend can be used for items such as a new desk or office chair. 

"If you're working in a hybrid or remote environment, and your equipment or your technology is getting a little bit outdated and you would like some support, you could potentially negotiate for a reimbursement for expenses such as your internet or computer cost," says Spencer.

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Updated job title

If your current title no longer reflects the level of work you're doing because of increased responsibilities, a job title that aligns better with all you manage can be a good thing to discuss, Spencer says.

"Asking for an updated job title or more impressive job title would allow you to be better aligned within the industry and could also be beneficial for you down the road if you attempted to change jobs, or maybe negotiate for a higher salary later on," he says.

Membership dues

If professional growth is top of mind, looking into various organizations that can broaden connections and increase knowledge may be something employers are willing to support financially. 

"If there was a particular organization that you wanted to be a part of because it would allow you to have access to new training or new networking opportunities, asking a company to foot the bill for a membership would probably fall under the umbrella of professional development budgets," Spencer says.

Professional development support

Nearly 60% of employees say more training makes them better at their jobs, and three quarters of millennials call professional development a must for a strong company culture, according to Zippia.

"If there is a specific class or training you want to take, the company could help support you," Spencer says. "Some of these benefits would require financial investment from the organization, so some could be easier than others if they are tightening the budget a little bit. But sometimes an organization will allocate funds for professional development, and maybe they aren't using the extent of that professional development budget, so you can ask that they invest in you a little bit more."

Opportunities for mentorships

Mentorship programs have a high ROI for businesses, as well as a benefit to employees. Workers in mentoring programs have a 50% higher retention rate than those who are not in one, and 93% of mentorship participants find the relationship valuable, according to MentorcliQ. 

"Whether you are the mentee or the mentor, [the experience allows] you to gain valuable skills and insights into other types of roles and other areas of the organization — things that will help build your portfolio of bargaining chips when it does come time to potentially ask for a higher salary," Spencer says.

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New challenges

Maybe a raise in pay isn't on the table today, but having a history of initiative can go a long way in securing one if circumstances change in the future. 

"Asking for the opportunity to take on new challenges can help improve your value within your current organization or with a potential future organization," says Spencer. "Maybe there are some things that are kind of adjacent to your role, or maybe you would fall under more of the scope of someone who's a level or two above new and you want to start testing the waters in those kinds of things and learning new skills. Ask to be able to take on some stretch assignments so to speak, that would better align with your long term plans."

Internal networking

We don't always connect with co-workers if our job doesn't require it, but doing so can mean opportunities for collaboration and a better understanding of the company as a whole, which benefits employees and employers alike.

"Allowing you to break through some of the silos that we often experience and giving you the chance to learn from others across the organization in those cross-functional teams can help you develop new skills and potentially be the bridge to new opportunities, either within that organization or outside that organization," Spencer says.

Volunteer support

Paid time off for volunteering can promote higher job satisfaction and productivity and give employees a better sense of work-life balance, according to Habitat for Humanity. 

"Pay-it-forward time off, where you get so many hours a month that count as work hours, but you get to go volunteer for an organization — it's a way to allow you to give back to a cause that you are passionate about on work time so you're not necessarily feeling exhausted at the end of the workday and then going to volunteer," says Spencer.
Lee Hafner
Editor, Employee Benefit News
Employee retention Employee benefits Workplace management Compensation
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