Bold in Negotiation 3 of 4

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Welcome to The Bold Brief—

You are a member of this community of top-notch expert nurses and healthcare professionals who aspire to be “bold” in career and life. We want to be bold in our life’s purpose, and bold in life and career choices to live with authenticity, balance, and meaningful challenges.

This is the part 3 of our Bold in Negotiations series, a powerful 4-part series focused on mastering salary and benefits negotiations. Click here to reach Part 1 The Foundations of Negotiation, or Part 2 Research and Preparation – Know Your Worth, if you missed them.

So, bold in negotiation.

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Understanding Your Non-Salary Benefits

Non-salary benefits can elevate your career, enhance your financial stability, and improve your quality of life. Let’s explore how you can unlock their potential. Non-salary benefits encompass everything beyond your base pay that contributes to your total compensation. These perks range widely across roles and industries and might include flexible schedules, professional development funding, wellness programs, additional PTO, retirement contributions, equity, and even stock options.

For expert nurses and healthcare professionals transitioning to roles in industries like HealthTech or Biotech, understanding the breadth and value of these benefits is essential. Unlike standardized packages typical of bedside clinical roles and hospital entry-level leadership roles, non-traditional roles often allow room for customization and negotiation.

The Evidence to Understand Your Non-Salary Benefits

Non-salary benefits can have profound effects on your career satisfaction, finances, and well-being:

• Improved Job Satisfaction: Research shows that employees with access to benefits like professional development funding and wellness programs report higher engagement and loyalty to their organization.¹

• Significant Financial Impact: Employer contributions to retirement plans, tuition reimbursements, or stock options can add thousands of dollars annually to your overall compensation.²

• Work-Life Balance: Flexible schedules and additional PTO improve mental health and reduce burnout, which is especially critical for healthcare professionals in demanding roles.³

What the Evidence Means for Your Work and Life

• Life: Flexible schedules and remote work options provide freedom to spend more time with family, pursue hobbies, or manage personal commitments.

• Career: Professional development funding and access to certifications open doors to new opportunities and long-term growth.

• Financially: Non-salary benefits compound over time. For instance, matching contributions to a 401(k) or tuition reimbursement can significantly increase your lifetime wealth without impacting your immediate paycheck.

A Step-by-Step Guide to Evaluating & Negotiating Non-Salary Benefits

Step 1 Make a Wishlist

Start by identifying the benefits that matter most to you. Consider aspects like work-life balance, career growth, and financial planning. This Wishlist will help you early in your role search because you can then target companies that offer the benefits you most desire.

Personal example: In my most recent role in the Medical Device sector, I negotiated two of my MUST haves that may be little known to most nurses with careers in the hospital and bedside: A compressed workweek (I work 3 or 4 days, at 8-10 hours from home) and Unlimited PTO.

Step 2 Research Industry Standards

As you narrow your job options and eventually settle on the role you are most qualified for away from the hospital and bedside, use industry-specific forums to understand what benefits are typical for your desired role.

Nurses enrolled in the Bold Nurse Academy gain access to a cultivated list of resources and are supported by my team to ensure accuracy in your pursuits!

Step 3 Quantify the Value

Calculate the monetary value of non-salary benefits. For example, employer-sponsored health insurance, 401(k) matching, or professional development funds can be worth thousands annually. However, some non-salary benefits may not be “calculable” in financial benefit. Instead, non-salary benefits may be intangible and enable your to halve the life and career you want and need for authenticity, balance, and true happiness. This weeks free PDF will help you quantify and calculate!

Scroll down to get this today’s FREE PDF: Non-Salary Benefits Wishlist 

Unlock the Full Value of Your Compensation Package

Step 4 Prioritize Your Wishlist

Rank your Benefits Wishlist by importance. This clarity will help you stay focused during negotiations. This week’s free PDF has 16 pages of non-salary benefits to consider!

Next week! The 4th and final part of our negotiation series will equip you with practical tips for the big moment: The Negotiation Conversation. We’ll cover specific strategies to handle pushback, respond to counteroffers, and maintain your professionalism and confidence throughout the discussion. Get ready to become a master negotiator and take charge of your future!

Step 5 Craft Your Talking Points & Strategies

Practice clearly articulating why these benefits are important to you and how they align with your career goals and the organization’s values. Stay tuned for the final edition in this series, Bold in Negotiation – Part 4 of 4 to help you with strategies!

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Why This Approach Works

• Strategic Planning: Evaluating and prioritizing benefits ensures you don’t miss out on opportunities to enhance your compensation package.

• Demonstrating Value: Asking for meaningful, well-researched benefits shows employers that you are thoughtful and intentional about your professional goals.

• Comprehensive Negotiation: By considering non-salary benefits, you expand your options and increase the chances of a mutually beneficial - win-win outcome.

⬇️Weekly FREE Life-Career Resource⬇️

Download your FREE Non-Salary Benefits Wishlist on the value of non-salary benefits in your life, career, and finances. Use it to assess and negotiate benefits that elevate your total compensation package. Start negotiating for the perks that matter most to you!

Conclusion

Negotiating non-salary benefits is just as important as negotiating salary. These perks have a tangible impact on your life, career, and finances, making them an essential part of any compensation discussion. Take time to research, evaluate, and advocate for benefits that will truly enhance your professional and personal well-being.

Next week, we’ll cover advanced strategies to help you confidently close the deal and secure the compensation package you deserve.

💗P.S. If you find this content useful for your life, career, and happiness, please share!

P.P.S. If you want to learn from me on a daily basis, come connect with me on LinkedIn or in my Facebook Community.

Remember that this is a dedicated space for you, the nurses at the bedside and beyond, the committed healthcare professionals ready to explore transformative career paths beyond traditional roles. Every week, we'll dig into evidence-based strategies, insights, and stories designed to empower you to take bold steps toward a fulfilling career and life outside the hospital setting.

1  Better Pay and Benefits Loom Large in Job Satisfaction. Link

2  401(k) Overview. Link

3  Job and family demands and burnout among healthcare workers: The moderating role of workplace flexibility. Link