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Employee Benefit - Coggle Diagram
Employee Benefit
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Flexible Benefits
Definition: A benefit program that offers employees a choice between various benefits including cash, life insurance, health insurance, vacations, retirement plans, and childcare.
Advantage: Providing flex plans may be one way for employers to stand out amongst the competition and allow them to recruit top talent.
Includes: health screening and vision care, gym memberships, festive bonuses, and even groceries
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Definition
non-monetary compensation employee benefit packages may include overtime, medical insurance, vacation, profit sharing and retirement benefits.
Objective & Importance
The objective of offering benefits to your employees is important because a solid employee benefits package can help to attract and retain talent.