In employee compensation, 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:
Membership of sport and health clubs / Leisure activities
during work time.
Education / Personal development.
Staff discounts.
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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