What do you understand by Employee Benefits, explain the contemporary benefits offerings to
employees?.
Solution
Employee Benefits
Employee benefits are optional, non-wage compensation provided to employees in addition to
their normal wages or salaries. These types of benefits may include group insurance (health,
dental, vision, life etc.), disability income protection, retirement benefits, daycare, tuition
reimbursement, sick leave, vacation (paid and non-paid), funding of education, as well as
flexible and alternative work arrangements.
The benefits of benefits plans
Although expensive, there are many intrinsic benefits to providing your employees with a
comprehensive benefit plan. For most, it is the ability to find and keep highly qualified staff that
is the key driver. With the sector being highly competitive and the number of new employees
entering the workforce dwindling, employers are challenged to become even more creative and
responsive in the design, timing and generosity of their benefit plans. The more progressive the
organization, the more flexible the structure is in response to today.
What do you understand by Employee Benefits, explain the contempora.pdf
1. What do you understand by Employee Benefits, explain the contemporary benefits offerings to
employees?.
Solution
Employee Benefits
Employee benefits are optional, non-wage compensation provided to employees in addition to
their normal wages or salaries. These types of benefits may include group insurance (health,
dental, vision, life etc.), disability income protection, retirement benefits, daycare, tuition
reimbursement, sick leave, vacation (paid and non-paid), funding of education, as well as
flexible and alternative work arrangements.
The benefits of benefits plans
Although expensive, there are many intrinsic benefits to providing your employees with a
comprehensive benefit plan. For most, it is the ability to find and keep highly qualified staff that
is the key driver. With the sector being highly competitive and the number of new employees
entering the workforce dwindling, employers are challenged to become even more creative and
responsive in the design, timing and generosity of their benefit plans. The more progressive the
organization, the more flexible the structure is in response to today
