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Benefits consist of non-monetary compensation that is provided to employees. The total compensation or value an employee places on a job is influenced by the benefits the company offers. Typical categories of benefits include:
- Paid Leave - including vacation days, sick leave and holiday pay.
- Retirement Benefits - pension plans, 401k plans, and other contribution plans.
- Premium Pay - payment that is supplementary to normal wages that are payable when the employee works on a holiday, weekend or is otherwise moved to a temporary shift.
- Insurance - term life insurance, health insurance, disability, and dental insurance.
The human resources department of a company is usually responsible for maintaining a company's benefits programs.
Other forms of this term include - benefit, benefiting |
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