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Employee Benefits |
Description of Employee Benefits. Explanation. |
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Definition Employee Benefits. Description.
Employee Benefits are the non-wage part of remuneration consisting of a broad range of special payments or benefits in kind. Typical Employee Benefits are:
Also called Fringe Benefits.
Historically, many of these benefits were negotiated by unions through Collective Bargaining. Lately, there is a tendency away from these generic benefits to more individual or Flexible Benefits, where the employees have an element of choice over the particular benefits they will receive. A special form of flexible benefits is the Cafetaria Benefits Model, wherein employees can choose and buy benefits that suit their specific wishes, spending a sum of money or points. ForumCompare with: Incentives | Management by Objectives | CSFs and KPIs |
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End of description Employee Benefits. An explanation. |
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