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Employee benefits and benefits in kind (especially in British English), also called fringe benefits, perquisites, or perks, include various types of non-wage compensation provided to employees in addition to their normal wages or salaries. [1]
Inputs in this context include the employee’s time, expertise, qualifications, experience, intangible personal qualities such as drive and ambition, and interpersonal skills. Outcomes include monetary compensation, perquisites ("perks"), benefits, and flexible work arrangements which impact motivation, performance, and satisfaction of workers.
Bonuses are after-the-fact (not formula driven) and often discretionary. Short-term incentives can also take other forms, namely, fringe benefits, employee benefits and paid expenses (perquisites). Common fringe benefits can vary from meal plans to health insurance cover, retirement plans, company cars and even interest-free loans for the ...
Benefits – Employee benefits refer to the non-wage advantages offered by employers alongside standard salaries or wages. The benefits included in this total compensation package are designed to attract, retain, and motivate employees, while also improving their well-being and job satisfaction.
For example, if the retired executive thinks $10,000 worth of a perk such as private jet travel is the best way to spend $10,000, then $10,000 in cash and $10,000 in perk have the same value; however, if there are any possible circumstance in which they would prefer spending some or all of the money on something else, then cash is better. [134]
Salary (also now known as fixed pay) is coming to be seen as part of a "total rewards" system which includes bonuses, incentive pay, commissions, benefits and perquisites (or perks), and various other tools which help employers link rewards to an employee's measured performance. [1] Compensation has evolved considerably.
Employee benefit, also known as a perk, from perquisite: various non-wage compensations provided in addition to cash wages; Tetrachloroethylene, a chemical used for dry-cleaning, referred to in British English as Perk; Thermodynamic beta, a fundamental quantity in statistical mechanics; EIF2AK3, a human enzyme, often abbreviated as PERK
This is an incomplete list of U.S. Department of Defense code names primarily the two-word series variety. Officially, Arkin (2005) says that there are three types of code name : Nicknames – a combination of two separate unassociated and unclassified words (e.g. Polo and Step) assigned to represent a specific program, special access program ...