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Principal Employers

Recommended Staff Benefits
In 2024

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The domestic staffing market is highly competitive. Generosity wins the day and allows families to hire the best available candidates. Talented Private Service Professionals (PSPs) in any given market or role likely have multiple job opportunities to consider. They will always choose the most attractive and generous offer.

Basic Benefits Package

The Basic Benefits Package delineates the foundational benefits essential for every member of staff, setting a standard for the fundamental provisions expected from an employer.

  • Healthcare plan or compensation for the employee: 100% or 80/20. Compensation ranges from $500-$1000 per month.
  • 10 paid vacation days for up to  5 years of experience
  • 3-5 paid sick days
  • 6-12 paid holidays
  • Year-end discretionary bonus: 10-25% of base pay (based on performance) 
  • Mileage reimbursement (IRS rate for 2024 is 67 cents per mile)
  • Cell phone/computer or compensation
  • Per-diem and expenses for work-related travel
  • Yearly wage review, performance review, and letter of reference
  • Industry-related membership dues
  • Continuing Education + Professional Development allowance ($5-10k/yr)

Enhanced Benefits

Adding even a few of the Enhanced Benefits listed below to the Basic Benefits Package makes for a top-level offering that undoubtedly attracts the best candidates in the market and leads to greater staff retention.

  • Sign-on bonus: usually  $5K-10K 
  • Healthcare plan or compensation for the employee’s spouse and dependents
  • Dental plan
  • Vision plan
  • Health savings account
  • Life insurance
  • 16 paid holidays
  • 15-30 paid vacation days (15 days for up to 10 years of experience, 20 days for 10+ years, 30 days for 20+ years.)
  • Guaranteed year-end bonus: 10-25% of base pay
  • Provided vehicle for work and personal use
  • Vehicle stipend for fuel, insurance, and maintenance costs
  • Transportation costs (train and bus tickets)
  • Relocation Packages
  • Retirement plan + employer match
  • Stock options
  • Housing or allowance (traditionally, private staff have been provided housing for centuries as a basic benefit)
  • Tuition assistance for employee, spouse, and their children
  • Clothing allowance
  • 5-year anniversary bonus: $30-50K
  • Meals or meal allowance
  • Dining allowance (chefs)
  • Gym membership
  • Structured bonus plans
  • Gifts for staff birthdays, holidays, and work anniversaries

Paid Holidays

Most private employers offer between 6-15 paid holidays each year. These days are in addition to paid vacation and sick days:

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Deal Breakers

It is possible to overcome some dealbreakers with incentives from the Enhanced Benefits list above. Situations that make a particular employment offer less attractive to most candidates include:

  • Excessive commutes: Long drives and heavy traffic usually lead to turnover; candidates tire quickly and resign.
  • Excessive hours: A typical work week should be between 35 and 45 hours. If “peak season” regularly exceeds 50 hours, consider adding seasonal staff.
  • Unreasonable schedule: All staff need two consecutive days off each week for rejuvenation and a balanced lifestyle.
  • Undefined Multiple Roles: Staff should be assigned a primary role. If needed, a secondary role (aka Hybrid Roles) may be added with clearly defined priorities, directives, and tasks. Staff who are exceptionally talented in one area can often function well in a secondary role. However, they risk burnout because they are working outside their natural talents. Adding permanent tertiary roles or responsibilities leads to high rates of turnover.
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PSA BENEFITS

PSA is thrilled to announce a groundbreaking development that is set to transform the landscape for Private Service industry professionals. For the first time ever, we are introducing an exclusive Group Insurance program tailored to the unique needs of professionals, agents, educators, and businesses within our esteemed community.

At Private Service Alliance, we understand the distinct challenges and demands that come with working in private service. Our new PSA Benefits program is designed to provide comprehensive coverage and benefits, offering financial protection and peace of mind to industry professionals like never before.

Key Features of PSA Benefits

  • Tailored Coverage: Our insurance program is specifically crafted to address the nuanced requirements of professionals working in private service roles, ensuring that you receive the coverage you truly need.
  • Competitive Rates: Enjoy competitive and affordable rates that reflect our commitment to supporting the well-being of our valued community members.
  • Comprehensive Benefits: From vision and dental coverage to specialized benefits catering to the unique aspects of private service roles, our Group Insurance program offers a comprehensive range of benefits.
  • Unprecedented Access: Access to group insurance has never been available to Private Service industry professionals until now. PSA is proud to be a pioneer in providing this essential resource to our entire community.
  • Expert Guidance: Our insurance experts are ready to assist you in navigating the intricacies of the insurance landscape, ensuring that you make informed decisions about your coverage.
  • More Accessible: We have added a new entry-level membership category providing limited access to our member community, AND eligible for our Group Insurance benefits program! Check out the NEW PSP Lite memberships here!


We believe that group insurance through the PSA Benefits program will not only provide financial protection but also underscore our commitment to supporting the well-being and financial security of our dedicated professionals. PSA does NOT receive a commission on the sale of any insurance product or plan.

PSA Members can visit the Group Insurance space in the PSA Marketplace of our Member community for more details on how staff can enroll and take advantage of several exclusive offerings. Or contact PSA for information on how you can provide benefits to your team.

At Private Service Alliance, we are dedicated to enhancing the lives of industry professionals, and our Group Insurance program is a testament to that commitment.

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Comprehensive Relocation Packages

Relocating for a new job can be monumental, particularly for private service staff accustomed to working in distinctive settings such as private estates and luxury condominiums. To facilitate a seamless transition and entice top-tier talent, employers of private staff must offer comprehensive relocation packages. These packages assist new employees in their move and underscore the employer’s dedication to their well-being and professional success. Let’s delve deeper into the essential components of relocation packages tailored for private service staff:

Relocation Assistance: Relocation specialists are expert consultants employed by relocation management companies (RMCs) to support employees and their families throughout the entire relocation process.

  • RMCs provide tailored estimates to guide employers in drafting relocation package offers.
  • RMCs can manage all aspects of the relocation process, allowing staff to focus on their new job and not the worries associated with relocation.
 

Permanent Housing Assistance: Relocating employees often face the daunting task of finding suitable housing in an unfamiliar location. Recognizing this challenge, employers should extend substantial support in this area, as ensuring a smooth housing transition is paramount.

  • Arranging temporary accommodation in a corporate apartment or extended-stay hotel for the employee’s initial stay.
  • Providing access to a relocation specialist who can assist in finding suitable rental properties or real estate agents specializing in the local market.
  • Offering reimbursement or direct payment for rental application fees, security deposits, first and last month’s rent, utilities, or down payments on a new home.
 

Temporary Housing and Per Diem: In instances where employees require temporary housing before securing permanent accommodations, offering temporary housing arrangements and per diem allowances for meals and incidental expenses is indispensable. This provision offers peace of mind and stability during the initial stages of relocation.

  • Securing furnished corporate housing or short-term rental accommodations for the employee’s initial stay.
  • Typically, it ranges from one to three months for renters and up to one year for home buyers.
  • Providing a daily per diem allowance to cover meals, transportation, and other incidental expenses incurred during the transition period.
  • Offering access to relocation specialists or concierge services that can assist with finding temporary housing options and navigating the local area.
  • Costs can range from $100-500/day, depending on the city, venue, and seasonal rates.
 

Transportation Support: Transitioning to a new location involves logistical complexities, particularly regarding transportation. Relocation packages should encompass comprehensive transportation support to alleviate the burden of relocation.

  • Reimbursing the cost of round-trip airfare or providing a stipend for driving mileage based on the distance traveled.
  • Arrange for a rental car or car service to transport the employee from the airport to their temporary accommodation or final destination.
  • Assisting with shipping personal belongings, including coordination of moving companies or freight services for oversized items.
 

Moving Expenses: Moving entails a myriad of expenses, ranging from hiring professional movers to covering packing and shipping services. By offering robust coverage of moving expenses, employers can alleviate financial strain while expediting and streamlining the relocation process for their staff.

  • Fully cover the cost of professional movers, including packing, loading, transportation, and unloading at the new residence.
  • Providing packing and moving supplies such as boxes, tape, and packing materials to facilitate the relocation process.
  • Offering a lump-sum allowance or generous reimbursement for incidental moving expenses, such as storage unit fees or utility setup fees.
  • Providing paid time off for new employees to unpack, settle in, establish utilities, change their driver’s license, find doctors and dentists, enroll children in school, and navigate a new city.
 

Cost-of-Living Adjustment: Relocating to an area with a higher cost of living can present financial challenges. To ensure equitable compensation, employers should provide a cost-of-living adjustment to align salaries with the new location’s economic landscape. This adjustment is essential for maintaining employees’ financial stability and overall well-being.

  • Conducting a comprehensive analysis of the employee’s current salary and adjusting it to reflect the cost of living in the new location.
  • Providing a percentage-based increase in salary to account for differences in housing, transportation, and other living expenses.
  • Offering flexible compensation packages that include housing subsidies, transportation allowances, or bonuses tied to the cost-of-living index.
  • Forbes hosts a Cost Of Living Calculator that makes these calculations a breeze.
 

Relocation Allowance: Relocation allowances serve as a lifeline for employees navigating the myriad of expenses associated with moving. From setting up utilities to purchasing furniture, these allowances provide essential financial support and flexibility during the transition period.

  • Providing a lump-sum cash allowance to cover miscellaneous relocation expenses, such as travel incidentals, meals during the move, or temporary lodging before permanent housing is secured.
  • Offering reimbursement for expenses related to selling or terminating a lease on the employee’s current residence, including early termination fees or real estate agent commissions.
  • Assisting with visa or work permit application fees for international relocations, as well as immigration support services.
  • Actual relocation costs can range from $2k to $100k, and package types include Lump Sum (poorest outcome), Tiered (by seniority), Managed Budget, and Fully Covered.
 

Tax Implications: Employees are taxed on any relocation benefits they receive.

  • Whether relocation funds are paid to an employee or invoices are paid directly by the employer to a moving company, since 2017, all relocation fees are considered taxable income and are not deductible.
  • Employers can offset additional income taxes by factoring the taxes into a relocation package offer, a method known as the “Gross-Up Method.”
 

Comprehensive relocation packages play a pivotal role in facilitating successful transitions for private service staff. By prioritizing housing assistance, transportation support, moving expenses coverage, cost-of-living adjustments, and providing allowances for temporary housing and per diem expenses, employers can demonstrate their commitment to supporting employees’ well-being and ensuring a smooth relocation experience.

Professional Development

Professional Development is Fundamental

Ongoing professional development is standard, if not required, for staff working in nearly every business sector, in every corner of the world. The Private Service industry is no exception to this rule. In fact, most Principal employers find the long-term benefits to their staff far outweigh the short-term inconvenience of ‘doing without’ for a long weekend. Because Private Service is a very isolating career path, it is difficult for Private Service Professionals to cultivate professional relationships with peers outside the estate they serve. Professional Development opportunities are fundamental in shaping their current role as well as the trajectory of their career path.

Common benefits to Principal employers include exposure to the latest tools and best practices allowing employees to excel in their current positions while keeping them and your estate ahead of the curve.

Professional development keeps great employees focused, challenged, and interested in their assigned duties far longer than those without such opportunities. These experiences help cultivate and retain the best staff, maximize staff loyalty, and minimize turnover.

Conferences and courses for professional development create opportunities for newfound knowledge, confidence, skills, and strategies. They boost morale, increase productivity, make staff feel valued as individuals, and respected as professionals. Industry veterans find opportunities to pay it forward, mentor, share trade secrets, establish themselves as Subject Matter Experts, and leave the industry better than before.

Download this PDF to share and discuss the value of Professional Development at your next staff meeting!

keynote Speaker

Picture of Nicole Middendorf

Nicole Middendorf

CEO of Prosperwell Financial and Wealth Advisor with RJFS

Nicole is a money maven, a knowledge junkie, and a born coach. Nicole became an entrepreneur in 2003 when she launched her wealth management firm. She is the author of five books, the mother of two phenomenal children, a world traveler, a philanthropist, and an accomplished public speaker.

Nicole shares financial advice and real-life perspective on saving, planning, and investing with audiences across the country. Her primary goal is to take complicated subjects and make them easy to understand. She works hard to empower people to make crucial, positive changes in their own lives.

Picture of Nicole Middendorf

Nicole Middendorf

CEO of Prosperwell Financial and Wealth Advisor with RJFS

Nicole is a money maven, a knowledge junkie, and a born coach. Nicole became an entrepreneur in 2003 when she launched her wealth management firm. She is the author of five books, the mother of two phenomenal children, a world traveler, a philanthropist, and an accomplished public speaker.

Nicole shares financial advice and real-life perspective on saving, planning, and investing with audiences across the country. Her primary goal is to take complicated subjects and make them easy to understand. She works hard to empower people to make crucial, positive changes in their own lives.

Prosperwell Financial provides personalized wealth management advice to effectively guide you through every stage of life. Our advisors help to plan your way toward true financial happiness, including financial retirement planning, college education savings, estate planning, asset management, insurance, and financial divorce planning. Founded by Wealth Advisor and Certified Divorce Financial Analyst Nicole Middendorf, Prosperwell Financial serves individuals and executives all across the U.S. We help you gain the confidence needed to be in control of your financial happiness.

The Wealth Advisors at Prosperwell Financial take the time to learn about you. We want to know your goals, dreams, and desires. As a mentor and coach, we guide you through the process of discovering your financial options and possibilities. Whether that means planning for retirement, converting an IRA, working with a 401k, or wealth management services, Prosperwell Financial will have you covered.

FOR A LIMITED TIME!
May 1 to July 15, 2024

Take The
PSA ANNUAL SALARY SURVEY
Today!

Private Service Alliance™ invites Private Service Professionals and PSP Consultants to participate in our annual salary survey, providing valuable insights into compensation trends within the industry.

Your input helps to guide decision makers to ensure that salaries
remain competitive and reflective of the skills and
expertise of professionals in the private service sector.

Join us in shaping the future of compensation standards
throughout the private service industry.