As you enter the workforce, it is a good idea to be familiar with the components of an employee benefits package. Employee benefits are various non-wage compensations provided to employees in addition to their normal wages or salaries. The purpose of employee benefits is to increase the financial security of staff members and, in doing so, improve worker retention across the organization.
Common employee benefits are retirement plans, savings plans, insurance, leave (sick, vacation, etc.), stock purchase, educational reimbursement, incentive plans, and cafeteria plans. In addition to considering salary when you are offered employment with a company, you should also evaluate the employer's benefits package.