It used to be the case that candidates were only concerned
with the base salary – how much they would earn on a monthly or annual basis.
But times are changing and over the past few months there has been a
significant shift in looking at the overall remuneration package, and not just
the figures on the page.
As a legal requirement in the Cayman Islands, employers are
obligated to contribute a minimum of 50% towards your health insurance,
therefore leaving the employee to pay an equal 50%. We have seen a noticeable
shift with this – some employers are now offering 70%, 80% and sometimes up to
100%. In some cases this coverage would be for not only the employee but their
dependent(s) as well thus making a significant difference to the take-home pay.
In addition to the health insurance benefit, vacation days
seem to be on the up. Although 10 days is the statutory minimum, we are seeing
an increasing number of organizations offering up to 20 days. This seems to be
representative of the recognized need for a stronger work/life balance and
healthy staff morale.
So, next time you are looking into a new job, think beyond
the salary, ask questions about the organization and the overall package
offered. It makes a difference to not
only your overall income but your whole working attitude.
For additional information on current vacancies, please visit our website: www.steppingstonescayman.com
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