We often get candidates who say they want to leave their company because the company doesn’t offer any benefits but the reality is that the word “benefits” is quite misleading.
When we discuss salaries and benefits with candidates and clients, we always talk about a Cost to Company salary, so even if the company is contributing towards a medical and pension fund for you, this money still comes out of your Cost to Company salary, so technically you are paying for it and not the company.
Yes, you will get a tax benefit due to the company administering it on your behalf but the cost still comes out of your salary.
So don’t feel discouraged if a company doesn’t pay benefits on your behalf, just make sure the salary offered is enough for you to pay for your own medical aid and retirement annuity, and then you will have the choice of which medical aid you want to belong to and where you want to invest your hard heard money.
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Divisional Head Financial Services & Special Projects