Benefits

Benefits consist of monetary and 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 time, 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 the company's benefits programs.