New company - typical employee benefits?

BailMeOut

Hi

Working on a small start-up in Ireland funded from USA and looking for a list or typical benefits offered to employees in Ireland.

What are "typical' benefits be here? Industry is IT/Software development.

e.g.

Private Heath insurance
Disability / income protection insurance
Employer pension matching contributions
Parking
Bike to work
Bus rail pass
Lunch
Mobile phone
bonuses
etc...

Just trying to get a feel what would be needed to attract good candidates assuming salary is competitive.

Thanks

Nody

Flexi time
Possibility for education & certification

Basically give them a chance to have a private life and a chance to grow professionally

therecklessone

BailMeOut wrote: »

Hi

Working on a small start-up in Ireland funded from USA and looking for a list or typical benefits offered to employees in Ireland.

What are "typical' benefits be here? Industry is IT/Software development.

e.g.

Private Heath insurance
Disability / income protection insurance
Employer pension matching contributions
Parking
Bike to work
Bus rail pass
Lunch
Mobile phone
bonuses
etc...

Just trying to get a feel what would be needed to attract good candidates assuming salary is competitive.

Thanks

Hi,

Of that list I'd ignore bike to work and travel passes as they are both (currently) provided for by the state.

I'd recommend tailoring your benefits towards your prospective employees, e.g. while I would highly recommend saving for retirement how many twenty-somethings would choose a pension over bonuses?

One other benefit I'd recommend is gym or sports club membership, again this should appeal to your target staff.

Manach

While it might sound a tad cliched in the IT work: both responsibility (as in a measure of self-management) and interesting technologies would be pull factors.

allibastor

What is the age and demographic you are looking to attract.

Are you looking for the best of the best of the best?

If so, maybe accommodation assistants, meals at work or a tab at local eatery. Health insurance etc should be a good one.

A lot of employees will now look at added perks of a job over just salary so if you can fund some of these it may give you an advantage over your competition.

bardcom

BailMeOut wrote: »

Hi

Working on a small start-up in Ireland funded from USA and looking for a list or typical benefits offered to employees in Ireland.

What are "typical' benefits be here? Industry is IT/Software development.

e.g.

Private Heath insurance
Disability / income protection insurance
Employer pension matching contributions
Parking
Bike to work
Bus rail pass
Lunch
Mobile phone
bonuses
etc...

Just trying to get a feel what would be needed to attract good candidates assuming salary is competitive.

Thanks

Shares?

Younger people are more aware of pension planning these days so that is increasingly looked for.

Commute-related expenses also such as train and luas annual or monthly passes.

Stheno

BailMeOut wrote: »

Hi

Working on a small start-up in Ireland funded from USA and looking for a list or typical benefits offered to employees in Ireland.

What are "typical' benefits be here? Industry is IT/Software development.

e.g.

Private Heath insurance
Disability / income protection insurance
Employer pension matching contributions
Parking
Bike to work
Bus rail pass
Lunch
Mobile phone
bonuses
etc...

Just trying to get a feel what would be needed to attract good candidates assuming salary is competitive.

Thanks

Given it's a small start up I think you'd probably need to be realistic in terms of what the company can afford.
Is it's funding from a parent company who do the likes of these benefits?

If funding is limited then certainly your first three are possibly unrealistic.
Not sure about lunch either, unless it's a google type situation where they provide it free onsite, lunch vouchers are no longer valid like they used to be.

Shares and/or profit sharing could be a valid option

BailMeOut

Thanks everyone. The list is just a list and something I can use as a range of additional costs per employee. If we could offer everything on it I am sure we'd be popular place to work but does not sound like I was way off on what are typical perks out there might be.

Gut feeling is that this would be the order of preference and young graduate programmers would be main hire.

bonuses
Lunch
Parking / Bike / Public Transport
Gym membership
Education / training

Relocation expenses

Mobile phone
Stock options / Profit sharing
Private Heath insurance
Disability / income protection insurance
Employer pension matching contributions

Thanks again

Stheno

BailMeOut wrote: »

Thanks everyone. The list is just a list and something I can use as a range of additional costs per employee. If we could offer everything on it I am sure we'd be popular place to work but does not sound like I was way off on what are typical perks out there might be.

Gut feeling is that this would be the order of preference and young graduate programmers would be main hire.

bonuses -
Lunch -
Parking / Bike / Public Transport -
Gym membership
Education / training

Relocation expenses

Mobile phone
Stock options / Profit sharing
Private Heath insurance
Disability / income protection insurance
Employer pension matching contributions

Thanks again

For your employee profile I'd agree for the main part on the above

I'm still curious about how lunch would work tho!

gandalf

Yep I think you have pretty much nailed the priority with that list there Bailmeout. The only item I would question is the mobile phone one, I would personally have that as a tool of the job and not a benefit if they are expected to use it for work purposes

imitation

I would personally not take a work phone or laptop as a plus, they are needed for the job. I keep my own phone for my private use.

I would view flexitime as a good benefit as long as its with reason for the company.

Extra holidays over statutory 20.

I belive there are tax efficent options for companies to contribute to pensions.

I think after that, benefits are well covered by revenue and they may not be worth the administration overhead.

Mrs OBumble

imitation wrote: »

I would personally not take a work phone or laptop as a plus, they are needed for the job. I keep my own phone for my private use.

I would view flexitime as a good benefit as long as its with reason for the company.

Extra holidays over statutory 20.

I belive there are tax efficent options for companies to contribute to pensions.

I think after that, benefits are well covered by revenue and they may not be worth the administration overhead.

Agreed - I would see a work phone as a punishment, not a benefit.

Being allowed to work from home sometimes is a benefit, as is flexitime.

There is one school of thought that says anything on top of that should be provided in cash, allowing the employee to make their own choices about what they want to spend money on.

AFAIK, the only one you cannot do this with is TaxSaver bus/train tickets and bike-to-work, which must be provided by the employer.


Oh - and a major benefit is also paid maternity leave. Some of the MNCs and government organisations offer it.

Tar.Aldarion

Depends on why they have the phone, my phones and their bills are paid for - I do not need it for work at all and it is a fantastic benefit. As you guys say it's not a benefit if it is for work.


Your list is good, and as somebody in the position you want to hire in a few years ago they would be on my list.
However the pension and health insurance are important things to me too.

ANXIOUS

Companies don't have to offer bike to work. In my workplace. We are give a percentage of our salary to spend on the perks listed above. So you can choice the health plan you want, pension conts and so on.

Eoin

BailMeOut wrote: »

Gut feeling is that this would be the order of preference and young graduate programmers would be main hire.

bonuses
Lunch
Parking / Bike / Public Transport
Gym membership
Education / training

Relocation expenses

Mobile phone
Stock options / Profit sharing
Private Heath insurance
Disability / income protection insurance
Employer pension matching contributions

I'm in IT, but in my mid/late 30s, so I'm not your target - but for me, healthcare and pension are at the top of my list (unless the base salary is so good that I don't mind making up the difference myself).

Education and training are not the same thing in my mind - training is not a perk, educational assistance (e.g. subsidising a masters) is. This and stock options can be a good way to retain staff longer, which can be a challenge with grads.

ANXIOUS wrote:

We are give a percentage of our salary to spend on the perks listed above.

I think some of our foreign offices have this option, it works well for them.

Batgurl

Birthday leave (day off on/around your birthday)

The opportunity to earn additional leave with longevity.

+1 additional after 1 year
+2 additional after 2 years
Etc

Elessar

Jaysus, I work in IT (a fairly big department in a large well-known company) and get none of those benefits, except parking. I get the bare legal minimums essentially. Maybe it's time to start looking elsewhere!

Any jobs going in this startup OP :pac:

MaggotBrain

Debt in service (death) but never advertised in job desc.

The_Conductor

MaggotBrain wrote: »

Debt in service (death) but never advertised in job desc.

Unless its public sector-in which case you specifically pay into a separate scheme to cover it (it used to be called 'The Widows and Orphans Scheme'- it probably has a new name these days).

The_Conductor

BailMeOut wrote: »

Private Heath insurance
Disability / income protection insurance
Employer pension matching contributions
Parking
Bike to work
Bus rail pass
Lunch
Mobile phone
bonuses
etc...

One thing to keep in mind- if you afford these benefits to staff- they are taxable benefits in kind- and may attract tax for both the employer and the employee. Ireland has done a massive crack down on BIK- particularly in the IT industry- you *will* be creating issue for employees if you give them a wonderful little shopping list such as this........

How do the larger firms (think Google etc) compare with your list- and indeed- how do they treat them from a tax perspective? It might be a template that you might apply to your own case........

Tar.Aldarion

I would hope they are paying you more then Elessar.

MaggotBrain wrote: »

Debt in service (death) but never advertised in job desc.

I get this, apparently pretty cheap to provide. Also get disability insurance which is pretty good, maybe that?

The_Conductor wrote: »

One thing to keep in mind- if you afford these benefits to staff- they are taxable benefits in kind- and may attract tax for both the employer and the employee. Ireland has done a massive crack down on BIK- particularly in the IT industry- you *will* be creating issue for employees if you give them a wonderful little shopping list such as this........

How do the larger firms (think Google etc) compare with your list- and indeed- how do they treat them from a tax perspective? It might be a template that you might apply to your own case........

Hmm never had any issues so far, must check it out further.

_Kaiser_

Late 30s here, also IT (middle/department level management) and for me the things I'd be looking for - aside from a competitive wage of course! - would be (in vague order):

- Parking
- Flexitime/work from home
- Bonus plan
- Education support (not talking about internal courses but properly accredited certification)
- Pension (with matched rates)
- Healthcare (only if fully or mostly covered)

A laptop/phone wouldn't be a perk, it's a tool of the job and usually comes with the expectation that you're thus available evenings/occasionally weekends. Something I don't mind personally though.

Wouldn't be fussed about Bike to Work, Gyms or stuff like that

Elessar

Tar.Aldarion wrote: »

I would hope they are paying you more then Elessar.

Nope, and no salary reviews either (we asked!). I'm only there 6 months so trying to build up some experience, and maybe move a little into development. It's 10 mins from home and fairly relaxed environment so I've stayed until now. I have put a few CVs out recently though so I'll see how it goes!

FrStone

To be honest, thee two most important benefits for me are the health insurance and the employer pension contributions. We currently have a system whereby the employer will put in twice as much as we put in.

After that parking, increments and bonuses.