Employee Benefits:

Employee benefits are the indirect compensation paid to an employee. These benefits
are paid to employees in addition to their salaries and wages. They are also referred to
as fringe benefits offered to attract and retain employees.

Employees love benefits. They want appreciation for their hard work. Many employees
apply to companies because of the perks and benefits they offer.

Job satisfaction is directly related to employee satisfaction. If you ignore employee

satisfaction, it will ultimately lead to a decrease in engagement. This in turn leads to a
lack of motivation, efficiency and ultimately productivity.

Employees are a company's most valuable asset. As a manager, do you believe in this or
are you just paying lip service? If you sincerely believe in it, take it seriously and invest
more in employee benefits.

Employees Benefits and Compensations Ideas:

1) Insurance plans: Insurance benefits are a great way to show your employees that you
care about them.

The company pays certain amounts of money to cover an employee's medical care.
These include insurance for damages due to accidents, disability, sudden death, and
maiming. Other types of medical coverage include dental screenings, biometric
screenings, etc.

2) Disability Insurance: The employer pays for the employee's salary if the employee
becomes incapacitated or unable to work. Depending on the needs of the employee, an
employer may purchase either short-term or long-term disability insurance.

Short-term insurance covers the employee's salary for up to 6 months, while long-term
insurance covers the employee's lifetime salary.

3) Paid Vacation: As the name implies, these are benefits in which an employee is paid
even if he or she takes time off from work. An extension of this benefit is the granting of
unlimited vacation. Many companies that offer this benefit have found that this is the
most popular benefit among their employees. And employees also tend to take almost
as much vacation as they used to.