Your salary or hourly wage is not the only benefit you receive from the company you work for: Employee benefits can add as much as 30 or 40 percent of your salary to your overall compensation, according to Brad Stroh, co-founder and co-CEO of California-based Bills.com.

Benefits include medical, disability and life insurance at many companies, and vacations and paid time off, along with less common perks such as tuition reimbursement.

Then are the benefits that add to your long-term bottom line, such as pensions, retirement savings plans and flexible spending accounts.

"Benefits ... can add tremendously to your long-term well-being by providing tax and savings advantages," Stroh said.

The most common mistake Americans make is to fail to sign up for a 401(k) retirement savings plan, even when the company offers matching funds, he said.

"If you don’t contribute the maximum, and your company matches contributions, you’re saying ‘no thanks’ to thousands of dollars a year," Stroh said.

Studies have shown that only about 10 percent of workers offered a 401(k) plan, both matching and nonmatching, actually sign up, Stroh said. On the other hand, companies that automatically enroll employees in a plan only see about 10 percent of them opt out.

"There’s a huge inertia to do anything," Stroh said. "But no one’s going to do it for you.

"You need to get your financial game plan in order and you need to be disciplined and thoughtful in your approach."

Employees should contribute to 401(k) plans even when the company offers no matching funds, since the dollars are tax-deferred, meaning your tax liability is lowered during your working years, and the money likely will be taxed at a lower rate when you start making withdrawals at retirement age, when most people will be in a lower tax bracket.

Stroh said one reason some people fail to contribute to a retirement plan is because they assume home ownership is a guaranteed ticket to wealth later in life. But he said people are forgetting an important aspect of owning — and paying for — a home.

"It is a forced savings mechanism, but people pay a lot of money in interest expense to get that equity appreciation," he said.

Stroh said there is a shocking lack of basic financial education among young people in the United States that must be addressed. Only education can help people know how to get on solid financial footing, and protect people against "sophisticated lenders who are good at getting consumers to buy and spend," Stroh said.

Stroh offers the following tips for maximizing benefits:

Contribute the maximum amount allowed to any retirement plan you have access to, especially if the company matches contributions to a 401(k) or 403(b) plan. Remember that pre-tax 401(k) contributions and employer’s matching contributions can be rolled over to an IRA or to another 401(k) when leaving the company.

Meet "vesting" requirements. Some companies contribute profit-sharing or other bonuses to employees’ retirement funds. Employees usually must remain with the company for 5 to 10 years to be fully "vested" in these benefits — that is, to claim their portion. "If another job opportunity arises, remember to take into account these lost benefits when comparing your current job income and benefits with the prospective job," Stroh said.

Choose health coverage wisely. Evaluate all the options. For some people, low monthly premiums make the most sense; others might benefit from paying more per month but having more care covered. And with ever-expanding options available for expensive treatments such as transplants and surgery, finding the highest lifetime limit on coverage might make sense.

Use "cafeteria" plans. Also called flexible benefit plans or flexible spending accounts, these plans allow employees to choose where they want to direct benefit dollars. One employee might divert some pre-tax income to cover child care expenses; another might set aside funds to pay for a teen’s orthodontia. Other benefits might include disability insurance, vacation pay, adoption assistance and group life insurance.

Take vacation — or be paid for it. Time off is a valuable benefit. Employees who are eligible for 10 paid holidays, five sick or personal days and two weeks’ vacation are allowed not to work for nearly 12 percent of the year — and still be paid. Studies show time off improves work performance and mental health. "Do maintain your dedication to your job, but don’t hesitate to take off the time you deserve," Stroh said.