Final answer:
The term that refers to nonmonetary compensation provided to employees is 'Fringe benefits'. Fringe benefits are part of the total compensation package and can include various perks and benefits such as health insurance, retirement plans, and paid time off.
Step-by-step explanation:
The term that refers to nonmonetary compensation, sometimes considered a reward, that employers provide to employees is C) Fringe benefits. Fringe benefits include various types of non-wage compensations provided to employees in addition to their normal wages or salaries. Examples of fringe benefits can range from health insurance, retirement plans, and paid time off, to smaller perks like gym memberships or company cars. These benefits are considered part of an employee's total compensation package and can be an important factor in employee satisfaction and recruitment.
In contrast, the principle of beneficence is related to ethics and involves acting in ways that benefit others. It's commonly applied in medical and research settings to ensure participants' interests are considered. When an organization integrates the principle of beneficence into its practices, it may create a caring workplace culture, indirectly contributing to the benefits offered to employees, though it does not refer to nonmonetary compensation directly.