Episode 41: Understanding Your Employee Benefits with Jessica Lepp

The landscape of employee benefits packages can be a bit of a maze to navigate. If you've already landed a job or you're in the process of deciding on the job that's the right fit for you, these benefits play a crucial role in your overall job satisfaction as well as your financial well-being. So it's only natural to have questions! Today, Jessica Lepp, Director of Operations at ROCS Staffing joins me to share her valuable insight on what recent graduates can anticipate when reviewing their employer's benefits package. We'll delve into the various types of health insurance plans, time off benefits, retirement savings plans, and other perks that companies may offer. Plus, Jessica shares her most valuable piece of advice for recent college graduates just "Leaving the Nest." Thanks again for listening to "Leaving The Nest." I hope you enjoy my conversation with Jessica! Please leave us a review wherever you are listening and share this episode with others you know who are just "Leaving the Nest."   In This Episode [00:34] - Kathleen introduces her colleague Jessica Lepp, the Director of Operations at ROCS Staffing, who is here to share her journey and role at ROCS and offer listeners valuable insights for understanding the complex world of employee benefits and company perks. [01:53] - Jessica shares with us how her role has evolved over her ten years at ROCS, and the relationships she built  [08:57] - Jessica shares what benefits are, the percentage they make up of an employee's total compensation package, and the elements—like health insurance and 401(k) plans—typically included.  [09:45] - The introduction of benefits into the hiring conversation. [10:02] - Jessica shares how some companies use benefits to differentiate themselves with specifics generally being introduced at the offer stage. [11:03] - Breaking down the most significant components of the benefits umbrella: medical, healthcare, dental, and vision coverage. [12:06] - Jessica uses a car insurance analogy to explain the concept of health insurance costs, the employer's portion, and the employee's financial responsibility. [15:29] - The complexity of insurance terminology: Jessica explains some of the key concepts like "premium", "deductible" and the "yearly out-of-pocket maximum." [17:22] - Discussing various time-off requests and accrual, like sick time, vacation time, and PTO. [17:45] - Jessica elaborates on the accrual method, where employees earn PTO as they work, and how it can vary by company, including rollover and "use it or lose it" policies. [22:34] - The financial benefits and perks offered by employers: Jessica provides insights into the importance of retirement savings plans and the value of paying your future self first. [25:37] - Jessica describes Health Savings Accounts (HSAs) and flexible spending accounts (FSAs) for more options for managing healthcare expenses. [30:51] - The importance of paying attention to waiting and enrollment periods for things like health insurance and your organization's policies so you are ready with your selections.  [37:42] - Jessica shares her top piece of advice for recent graduates just entering the workforce. [39:24] - You can connect with Jessica on LinkedIn or email her at [email protected]  [39:34] - Thanks again for listening to Leaving the Nest. To find your next job, visit us at ROCS Grad Staffing. If you are a business in need of help staffing entry-level positions in your office, please reach out to Kathleen directly at [email protected]. If you have any comments, questions, or suggestions, please call Kathleen at 703-579-6677.   Resources: ROCS Grad Staffing Listen to Leaving The Nest Podcast    Connect with Kathleen: [email protected] LinkedIn  Call: 571-446-2819   Connect with Jessica: [email protected]  LinkedIn