EMPLOYEE BENEFIT Meaning and
Definition
-
Employee benefits are additional perks or advantages that are offered to employees by their employer as part of their overall compensation package. These benefits are provided in addition to the employee's regular wages or salary and are designed to enhance the overall well-being and satisfaction of the workforce.
Employee benefits can take various forms and are intended to attract and retain skilled and motivated employees. Some common examples of employee benefits include health insurance, retirement plans, paid time off, sick leave, maternity or paternity leave, flexible work schedules, tuition reimbursement, and employee discounts. These benefits may be offered in full or partially paid by the employer, or even through employee contributions.
The purpose of employee benefits is to provide a sense of security, financial stability, and work-life balance to the employees. They also serve as an incentive to attract and retain talent within the organization, contributing to higher job satisfaction and increased productivity. Additionally, employee benefits can help promote a positive work culture and build loyalty among employees, leading to a more harmonious and motivated workforce.
Employers usually communicate the details of employee benefits through an employee handbook or during the hiring process, ensuring that staff members are aware of the various benefits available to them. Employee benefits can vary significantly depending on the industry, company size, and local labor laws.
Common Misspellings for EMPLOYEE BENEFIT
- wmployee benefit
- smployee benefit
- dmployee benefit
- rmployee benefit
- 4mployee benefit
- 3mployee benefit
- enployee benefit
- ekployee benefit
- ejployee benefit
- emoloyee benefit
- emlloyee benefit
- em-loyee benefit
- em0loyee benefit
- empkoyee benefit
- emppoyee benefit
- empooyee benefit
- empliyee benefit
- emplkyee benefit
- empllyee benefit
- emplpyee benefit
Etymology of EMPLOYEE BENEFIT
The word "employee benefit" is derived from two separate words: "employee" and "benefit".
The word "employee" originated from the Latin term "implicare" which means "to involve" or "to enfold". In medieval Latin, "implicatiōnem" meant "involvement" or "connection". Over time, this term developed into "employare" in medieval Latin and Middle French, which referred to the act of using or utilizing.
The word "benefit" is derived from the Latin term "benefactum" which means "a good deed" or "something well-done". In Latin, "benefacere" meant "to do good" or "to give help". In medieval Latin and Old French, it transformed into "benefit" which indicated something that is advantageous or beneficial.
