Employee benefits are non-wage compensation provided to employees in addition to their regular salary or wages.
Two examples of employee benefits are:
Health insurance: This type of benefit provides employees with coverage for medical, dental, and vision expenses.
Retirement plans: This type of benefit allows employees to save for their future by setting aside a portion of their income into a retirement account, such as a 401(k) or a pension plan.
Employee benefits are a way for employers to attract and retain employees by offering additional compensation beyond their regular salary or wages. Employee benefits can take many forms, including insurance plans, retirement plans, paid time off, and other perks. By offering a comprehensive package of benefits, employers can demonstrate their commitment to their employees and provide them with a sense of security and well-being. The specific benefits offered by an employer may vary depending on the size and type of the organization, as well as the laws and regulations governing employee benefits in the jurisdiction where it operates.