What is Benefits (benefits package)?
Benefits package includes everything other than basic pay an employee might get from an employer.
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Definition of Benefits package
Benefits package includes everything other than basic pay an employee might get from an employer. The main objective is to attract good employees, improve employees' morale and to enhance the image of the company.
Benefits package usually includes:
- medical insurance,
- accidental insurance,
- family member (dependents) insurance,
- personal leave, paid leave, sick leave,
- retirement plan,
- child care, maternity leave,
- hotel stays, allowances and incentives.
Extra benefits:
- gym memberships,
- fresh fruit, snacks and drinks,
- free lunch,
- massage appointments
- counseling appointments.
Here is a cool infographic by Chetu showing top benefits employers use in 2019:
