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:
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Insurance.
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Sickness / Medical.
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Dental.
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Life.
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Pension / Retirement benefits.
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Income protection / Social Security.
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Maternity Pay / Daycare / Child care.
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Profit sharing /
Employee Stock
Ownership Plan / Employee
Stock Options
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Holiday / vacation.
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Relocation assistance / benefits.
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Golden Handshake
/ Golden Parachute /
Golden Hello.
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Legal assistance.
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Company car.
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Company computer / internet access.
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Company mobile phone, PDA.
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Membership of sport and health clubs / Leisure activities
during work time.
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Education / Personal development.
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Staff discounts.
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Industry-related benefits, such as special mortgage rates
(banks).
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.
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Employee Benefits Special Interest Group
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Special Interest Group (70 members)
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Advance yourself in business administration and management
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Accelerate your management career
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Compare with: Incentives
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Objectives | CSFs
and KPIs
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Special Interest Group Leader
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