Linkedin HY posts (11)

Negotiate Beyond Salary

Negotiating a job offer is a monumental milestone in anyone’s career, no matter your experience level. The ability to negotiate effectively not only impacts immediate compensation but also sets the tone for one’s future career trajectory. We provided a step-by-step guide to help job seekers approach the offer negotiations with confidence and professionalism.Research and Preparation

Start by researching average salaries and benefits for your role and location using resources like Glassdoor and Payscale. Investigate the company’s financial health, market position, and typical salary ranges. Use financial reports, news articles, and employee reviews. Leverage your research to support your salary and benefit requests with concrete evidence.


Identify Priorities and Preparing Your Case

Determine what’s most important to you, such as salary, health benefits, work-life balance, or career advancement opportunities. Compile a list of your skills, education, and experiences that make you a valuable candidate.


Negotiating Salary and Benefits

Start by thanking the employer for the offer and expressing enthusiasm for the role. Request a specific salary amount based on your research, but be flexible. If salary adjustments aren’t possible, negotiate for benefits like signing bonuses, remote work options, or additional vacation days.

Making the Decision

Confirm changes in writing, ensure any changes to the offer are documented to avoid misunderstandings. Consider how the offer aligns with your career goals and personal priorities.

Negotiating a job offer is a critical skill that can significantly impact a worker’s career. When negotiating a job offer, you can discuss benefits beyond salary, such as signing bonuses, performance bonuses, enhanced health insurance, and retirement plan contributions. Flexible work hours and remote work options can help with work-life balance. Additional paid time off, professional development opportunities, and relocation assistance are also negotiable. Other considerations include commuting assistance, stock options or equity, parental leave, childcare assistance, health and wellness programs, and necessary technology and equipment.

Rather than just focusing on salary, negotiation expert, Mori Taheripour, recommends negotiating bonuses, vacation time, evaluation cycles and other aspects of an offer:

“Think about where do I want to be in two years, and then align those opportunities available to you on this compensation package. That could translate to anything from tuition reimbursement to professional development opportunities.”

William Everly, Financial Advisor, Ameriprise Financial Services, says:

“First, before a candidate applies, they should have a pretty good idea of what they are expecting (what is your personal budget and needs, what are similar positions paying, etc.) Then what non-cash extras will the candidate accept (stock options, hybrid work, etc.)”

By conducting thorough research, preparing effectively, and approaching negotiations with professionalism and confidence, you can secure favorable terms that align with your career goals.

Linkedin HY posts (10)

The Impact of Aging Population in the Workforce

By 2030, the World Health Organization predicts that 1 in 6 individuals globally will be aged 60 or older. During this period, the proportion of the population aged 60 and above is set to rise from 1 billion in 2020 to 1.4 billion. By 2050, the global population of individuals aged 60 and older is projected to double, reaching 2.1 billion. Furthermore, the number of individuals aged 80 and above is anticipated to triple between 2020 and 2050, reaching 426 million.


Silver Surge: Straining or Strengthening the Workforce?

The aging population presents a significant demographic shift with profound implications for both the job market and the healthcare industry. As the number of elderly individuals continues to rise, businesses and healthcare providers alike must adapt to meet the needs of this demographic.

In the job market, the aging population brings about both challenges and opportunities. On one hand, there is a growing demand for healthcare professionals, caregivers, and other services to the elderly. This creates job opportunities across various sectors, including healthcare, social services, and eldercare facilities. However, it also poses challenges in terms of workforce shortages, particularly in specialized fields such as geriatrics and palliative care.

Older workers offer invaluable experience, expertise, and reliability, enhancing decision-making and fostering a positive work culture. Their mentoring abilities contribute to the professional development of younger colleagues, while their stability reduces turnover rates and promotes organizational continuity. However, challenges arise as older workers may resist adopting new technologies, potentially hindering innovation. Age-related health issues may also impact productivity, requiring accommodations and increasing healthcare costs. Skill gaps may emerge due to rapid technological advancements, necessitating retraining efforts, and intergenerational tensions may arise, affecting workplace harmony.

Moreover, the aging workforce itself presents unique dynamics. Many older adults are choosing to work longer, either out of financial necessity or a desire to remain active and engaged. This trend is reshaping traditional retirement patterns and has implications for workforce planning, talent management, and retirement benefits.

Aging Workforce Impact for Business Perspectives

Businesses must navigate the implications of an aging workforce, where effectively adapting to demographic changes can yield several outcomes. Leveraging the experience and insights of older workers can boost productivity and foster innovation, while their adeptness in customer service roles enhances satisfaction and loyalty. Furthermore, employing older workers may reduce turnover costs and facilitate knowledge transfer, crucial for succession planning. By accommodating the needs of older employees and addressing age-related challenges, businesses can maintain a competitive edge and enhance their reputation as inclusive employers, attracting talent across generations.

The aging workforce may lead to wage compression as older employees delay retirement, limiting advancement opportunities for younger workers. Industries reliant on experienced labor may see increased demand, potentially driving up wages for specialized roles. Entry-level wages may stagnate due to reduced turnover, while pressure on employers to enhance benefits like healthcare and retirement contributions may rise. Older workers may negotiate higher salaries or flexible arrangements, influencing overall wage structures. Government intervention may be necessary to address wage disparities and ensure fair compensation across age groups.


Strategic Planning and Adaptation Approaches

While the increase in an aging population in the workforce presents numerous advantages in terms of experience, reliability, and mentoring opportunities, it also poses challenges related to resistance to change, health concerns, skill gaps, and generational tensions. Addressing these challenges requires proactive measures from employers, policymakers, and individuals to leverage the strengths of older workers while mitigating potential drawbacks.
Overall, the outcome of an aging population input for businesses from a business owner perspective hinges on strategic planning, adaptation, and investment in age-friendly policies and practices. By leveraging the strengths of older workers and addressing their unique needs, businesses can capitalize on the opportunities associated with an aging workforce while mitigating potential challenges.