What to consider when accepting a job offer

BEFORE saying yes to a new job, it's crucial to look beyond the salary figure to ensure that you fully understand the broader financial implications of the position, and to satisfy yourself that the new role aligns with your long-term goals. Here's your checklist to carefully consider:

- SHERRY TAPFUMA

Nature of the employment contract: Firstly, ensure the offer and employment contract are presented in writing. Clarify if the role is permanent, fixed-term, or temporary, and distinguish whether the salary stated is basic or cost-to-company.

Ideally, request a detailed breakdown of salary, deductions, and net take-home pay so that you can make a factual assessment of the offer.

Retirement fund benefits: Determine if the employer offers pension, provident, or retirement annuity options, and understand which investment company manages the fund, available investment strategies, your contribution levels, employer contributions, the administrative platform, and associated fees.

Group risk cover: Establish if group life and disability cover are provided, usually at lower costs than individual cover. Check if life cover is offered as a multiple of your annual salary and verify if income protection covers both temporary and permanent disabilities.

Additionally, enquire about supplementary benefits like dread disease and funeral cover, and be sure to understand any waiting periods that may apply.