What key things do you look for in a company when considering new opportunities? There are many factors to consider, from job duties to working hours, salary, and the size of company to name a few. There are many aspects that may affect your decision, such as benefit programs, which are important points that should not be overlooked.
The mixture of the aging populations and declining birthrate in Japan has led to an increase in competition for talent among companies. The job-to-applicant ratio is at an all-time high and the culture of “lifetime employment” is slowing changing. In an effort to retain talent and increase employee satisfaction, companies are focusing on improving their benefits plans more and more.
As recruitment consultants, we often hear job seekers say, “I want a salary increase”, “I want to change my work environment”, “I want a new challenge” or, “I want a step up.” When asked the question “Why do you want to work here?” it may not be the best answer to reply simply “because the benefits are great” or “I wanted a salary increase.” Instead focus on how the position aligns with your career goals, or how the company’s work environment matches what you value in an employer.
What are company benefits?
So, first of all, what is a company benefit? It is defined as a non-monetary remuneration that a company pays outside of normal wages and salaries for employees. For certain benefits, spouse and family members of employees may use them as well. Recently, companies are starting to offer not only their own benefit program, but also offer various benefit packages from health insurance associations to outsourcing services such as "Benefit Station" and "Relo Club".
Using the company benefits to determine company culture
By looking at the contents of a company’s benefits program, you can get a glimpse into the corporate culture and an idea of what types of things they value. You can also get an idea as to what kind of company you are applying for and compare opportunities based on the types of benefits they offer. This way you can find a job that is compatible with your work-style and increase the probability that the corporate culture, atmosphere, management's way of thinking, and other aspects of the job will fit your work-style.
When faced with an offer letter, many people place a lot of emphasis on salary and fail to see how some other benefits contribute to the total compensation package. Job seekers need to assess whether or not taking a lower salary with many benefits could be better for their job satisfaction than a high salary with little benefits. A position with good work life balance or other benefits may have a positive impact on the family situation as well. Are you one of the salary workers who give your money to your spouse and live with pocket money? If that is the case, a good benefits package may offer you other benefits that you can directly benefit from yourself.
What benefits are common in Japan?
The types of benefits a company offers vary from company to company and depends on the number of employees, industry, and even the company origin. You have probably heard of common benefits such as free coffee, stock options, gym membership, remote work, special paid holidays, educational or training stipend, childcare support, and discounts on company products. We hit the streets of Tokyo to find out what people had to say:
Other than these common benefits, what are some more unique benefits have we seen? Our consultants have seen companies offer unique benefits including:
The list just goes on! The IT industry is known to have more unique benefits such as these but we have also seen these in healthcare related companies, consumer goods, food and beverage companies, and more.
As executive search consultants, we partner with many companies on confidential roles that are not publicly listed so we have a great understanding of the market and what types of benefits are available. Please do not hesitate to ask questions like "Do you have a company with benefits like OO?".
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What about Apex?
Apex offers a variety of benefits to our team from flex time, special events, company trips, special training and more. Our team greatly enjoys not only these benefits but also the ability to work in English in a global and multicultural environment. We are always looking for new skilled and motivated individuals to join our team, so do not hesitate to reach out!
- What kind of benefit do you receive at your company? Are you satisfied with it? If you are thinking of changing your job, keep in mind the total compensation package including the benefits package when making a decision.
- Benefits differ greatly depending on industry, company origin, number of people, etc.
- You can get an idea of the corporate culture by comparing what types of benefits they offer
- Meet with a recruitment consultant to get more information about new opportunities that suit your career goals and work style
Download our recent report about company benefits in Japan's healthcare industry: