Anything offered to employees other than their paychecks and salaries from their employers classifies as employee benefits. These include insurance, leaves, in-office perks and facilities, and outside office perks. These are offered for the following reasons:
Some examples of employee benefits may include:
Besides these, there are a lot of other perks employers may offer employees.
While some benefits are given by adjusting salaries, most of these benefits are calculated and set while determining salaries. That being said, some benefits are strictly funded by the employers to create incentives for the employees and give them a better working experience.
Employers offer benefits to attract employees and incentivize them to work for them. Offering a wide range of benefits show employees that they are cared for and their needs are addressed. Furthermore, when employees feel cared for, it automatically translates to better performance and increased productivity.