Compensation

Introduction Employee benefits typically refers to retirement plans, health action insurance, life insurance, handicap insurance, vacation, employee stock ownership plans, etc. Benefits be more and more big-ticket(prenominal) for businesses to provide to employees, so the range and options of benefits atomic number 18 changing quickly to include, for example, flexible benefit plans. Benefits be forms of value, other than payment, that are provided to the employee in return for their contribution to the organization, that is, for doing their job. Some benefits, such as unemployment and workers compensation, are federally required. (Workers compensation is really a workers right, rather than a benefit.) Prominent examples of benefits are insurance (medical, life, dental, disability, unemployment and workers compensation), vacation pay, holiday pay, and maternity period leave, contribution to retirement (pension pay), profit sharing, stock options, and bonuses. (Some m asses would cerebrate profit sharing, stock options and bonuses as forms of compensation.) You might turn over of benefits as being palpable or intangible.

The benefits listed previously are tangible benefits. Intangible benefits are less direct, for example, appreciation from a boss, likelihood for promotion, nice office, etc. People sometimes reprimand of bam benefits, usually referring to tangible benefits, but sometimes meaning suspender kinds of benefits. You might also think of benefits as smart set-paid and employee-paid. age the company usually pays for most types of benefits (holiday pay, vacation pay, etc.), some benefits, such as medical insurance, are often paid, at t o the lowest degree in part, by employees be! cause of the high costs of medical insurance.If you need to narrow a full essay, order it on our website: OrderEssay.net

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