Understand Benefits (Nursing)

00:01 Genevieve could not believe it.

00:04 She was offered a $20,000 sign on bonus for a Kansas Hospital with a four year work commitment.

00:14 She went through the interview process with a blissful glaze over her eyes.

00:19 $20,000 was more than double the sign on bonus amount of any surrounding healthcare system.

00:28 And the payout will be enough for her to pay off her student loans and live a debt free life.

00:36 She found a small home near the hospital, packed her things and moved to a new state to start her new season of life in this hospital.

00:47 After the initial payout, the honeymoon glow quickly dissipated as she was confronted with the most dysfunctional, unprofessional work environment she had ever experienced.

01:01 She realized the reason why she had been offered such an outrageous sign on bonus.

01:08 She overheard a manager say that they had collected over a million dollars in paybacks since the new sign on Bonus was implemented last year.

01:19 It didn't matter how much they paid the workers.

01:23 The culture was so atrocious. People were leaving in droves.

01:29 Genevieve thought about how she had already cashed her check, and how she might have to pay back the $20,000 if she decided to leave before the four years were completed.

01:42 It had been a month, and she was already dreading her workspace.

01:48 This cautionary tale brings up a really important question you should consider in your career journey.

01:55 You need to understand the conditions behind your benefits and perks.

02:01 To better understand the benefits offered in your negotiation process, you should ask these three questions.

02:09 First, you should understand exactly what the benefit entails.

02:15 Is your sign on bonus paid out all at once, or in increments over time? Is tuition reimbursement offered for all courses or only for specific job related classes? Is the on site gym free? There is a lot of room for assumptions when looking over benefits.

02:38 Clarify exactly what the advertised benefits entail in your offer.

02:45 Second, you should ask what are the conditions, Genevieve signed a four year commitment and would have to pay the sign on bonus back if she left early.

02:57 These are the conditions of the benefit.

03:00 For many scholarships and tuition reimbursements, there are also work commitments.

03:06 You may experience other conditional benefits such as continuing education, flexible scheduling, and assistance programs.

03:14 These conditions are generally in place to create a more fair workplace, clear guidelines, and prevent benefit abuse.

03:23 If you are looking into a benefit, consider the conditions of the benefit.

03:28 You may want to question why the benefit is being offered.

03:32 Like Genevieve, the sign on bonus was double the rate of the competing surrounding health care systems.

03:40 Why? If you find yourself in unusual situations like this, if it sounds too good to be true, ask more questions.

03:52 Understand why the benefit is being offered and the conditions behind the benefit.

03:59 Lastly, you should ask.

04:01 How does this benefit align with my goals? If you are planning to move or transition in the near future, then accepting a sign on bonus with a work commitment will not likely set you up for success.

04:16 Take a look at your life trajectory.

04:19 And within reason, try to understand how these benefits will work within your life.

04:26 I get it life happens and things change fast.

04:29 But if you know that you are going to move or transition within the next year or two, be mindful when signing up for your benefits.

04:40 The medical field generally aims to take good care of health care providers through meaningful benefits.

04:48 It is up to you to ask questions to understand how those benefits will best benefit you.