When a candidate is moving from one company to another company, they may lose their existing employee benefits. This is a large consideration for them to move. If the new company wants to employ them they may have to pay extra salary to cover these potential loss of benefits. As a recruiter having this information is invaluable to you, you can present the cost of these benefits and what the candidate needs to do to replace them. This will make you stand out from your competitors.
Death in service/Life cover
This is the lump sum benefits that the company would pay to their employee or family should the person die whilst in service or suffer a serious illness whilst they are employed. Each company maybe different and if the potential employer doesn’t want to offer this benefit then how much does it cost for a replacement. Candidates should know these differences.
Not all health cover is the same and each company scheme will be different from the last, even more so if you're moving from another country. A calculation of the existing health compared to how much it would cost to replace is invaluable.
Will the company offer a retirement or pension scheme? or will they will leave it up to the individual to arrange themselves. If they do, then generally they will offer extra salary in order to cover this. The options are extensive and having these options for a candidate may help them see what they are gaining or missing out on.
We have a number of different tax calculators to value the amount that someone would pay in tax in different countries. For instance, if you're moving from UK to Singapore then your candidates will want to know how much tax they will be paying in Singapore compared to the UK. Or a candidate is going to move to Australia, how much tax are they going to pay there?
For your candidates current company benefit valuation summary: Please click to submit their details