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Yet many business owners today still seem hesitant to invest in better coverage or more paidvacation hours to woo new talent. For 41 percent of small business employees, benefits are crucial when accepting a new job, second to salary. Ten years ago, that wasn’t a problem.
Employee benefits also known as fringe benefits, as defined by the US Dept of Labor, are government-mandated, non-wage employee compensation, over their salaries and wages, that can be both financial and non-material. Apple offers its employees extended paidvacations while their medical coverage plans include fertility treatments.
Employers use dearness allowance to raise the salaries of their employees. Fringe benefits are the goodies that companies offer employees besides their salaries. They are usually non-cash perks, such as health insurance, paidvacation days, or gym memberships. Dearness Allowance. Fringe Benefits.
Now employees value dignity, appreciation, and rewards much more than their salary. When employees only receive a definite salary in return for the work done, they tend to lose their motivation. Whereas, when they get some extra perks along with the salary, the employees tend to feel more secure. Wegmans Retirement plan.
Now employees value dignity, appreciation, and rewards much more than their salary. When employees only receive a definite salary in return for the work done, they tend to lose their motivation. Whereas, when they get some extra perks along with the salary, the employees tend to feel more secure. Wegmans Retirement plan.
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