Employee Benefits

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Description of Employee Benefits. Explanation.

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:

• Insurance.

  • Sickness / Medical.

  • Dental.

  • Life.

• Pension / Retirement benefits.

• Income protection / Social Security.

• Maternity Pay / Daycare / Child care.

• Profit sharing / Employee Stock Ownership Plan / Employee Stock Options

• Holiday / vacation.

• Relocation assistance / benefits.

• Golden Handshake / Golden Parachute / Golden Hello.

• Legal assistance.

• Company car.

• Company computer / internet access.

• Company mobile phone, PDA.

• 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.

Special Interest Group - Employee Benefits Special Interest Group (70 members)

Forum - Employee Benefits   Here you will find interesting and educational discussions.   Attracting Employees using Wage Differential (3 reactions) A wage differential, also called "compensating differential"...           More Direct Compensation Instead of Employee Benefits (2 reactions) If employees undervalue the cost of benefits, why should a c...

Best Practices - Employee Benefits Here you will find the most valuable ideas.

Expert Tips - Employee Benefits Here you will find high-quality advice from experts.

Resources - Employee Benefits Here you will find powerpoint presentations, micro-learning videos and further information sources. Employment Benefits in Detail Employment Benefits, Social Security, Employee Benefits Program...   Voluntary Activities of Employees | Employee Volunteerism Employee Motivation, Employee Volunteerism, Employee Commitment, Shared Value, CSR, Corporate Reputation...     News about Employee Benefits         Videos about Employee Benefits         Presentations about Employee Benefits         Books about Employee Benefits         More about Employee Benefits

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