Benefits

What is Benefits ?

‘Benefits’ or ‘Benefits Package’ refer to the additional compensation an employee gets apart from the salary. These benefits might be either required by law or provided by the employer voluntarily to appease the employees.

While benefits make a job more attractive to a candidate, it also motivates existing employees to work harder. The overall benefits would be based on multiple factors like tenure and seniority of the employee, etc.

Similarly, the benefits vary a lot ranging from stipulated benefits like medical insurance, pension fund contribution, dental and vision-related benefits to lavish benefits like paid vacations, free childcare, gym memberships, etc.

More HR Terms

Bean-feast

What is Bean-feast?   The ‘Bean-feast’ is the term used to define the annual dinner organized by a company for its employees. Over time, the

Labor Law Posting

What is Labor Law Posting?   ‘Labor Law Posting’ refers to the mandated practice of displaying posters that detail basic employee rights in those places

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