Employee Benefits

Knowledge Center

What are Employee Benefits? Meaning.

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:

• 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.

Forum Forum about Employee Benefits. Below you can ask a question about this topic, share your experiences, report a new development, or explain something. 🔥 Attracting Employees using Wage Differential A wage differential, also called "compensating differential" or "compensating wage differential" or "equalizing difference", is defined as the additional amount of income that a given worker must be o... 5   3 comments More Direct Compensation Instead of Employee Benefits If employees undervalue the cost of benefits, why should a company not drop benefits and simply add more direct compensation? Do you agree or disagree with this statement?... 4   2 comments Start a new topic about Employee Benefits

Information Sources Various sources of information regarding Employee Benefits. Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops. Employment Benefits in Detail Employment Benefits, Social Security, Employee Benefits Program Detailed presentation about Employee Benefits (EB), that includes the following sections: 1. Employee Benefits Programs... Voluntary Activities of Employees | Employee Volunteerism Employee Motivation, Employee Volunteerism, Employee Commitment, Shared Value, CSR, Corporate Reputation Presentation about employee volunteerism, including the following sections: 1. What is employee volunteerism 2. Employ...

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Compare with: Incentives  |  Employee Compensation  |  Management by Objectives  |  CSFs and KPIs

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This ends our Employee Benefits summary and forum.