FRINGE BENEFIT Meaning and
Definition
-
A fringe benefit is a supplemental advantage or perk that is given to an employee in addition to their regular salary or wages. It is typically provided by the employer as a form of compensation and can take various forms, ultimately aiming to enhance the overall employee experience. These benefits are generally provided in addition to legally mandated benefits, such as health insurance or retirement plans.
Fringe benefits can be diverse and depend on the company's policies and preferences, as well as the industry and the employee's position. These benefits can include but are not limited to health and dental insurance, life and disability insurance, retirement plans, paid time off, flexible work hours, bonuses, profit-sharing plans, stock options, childcare assistance, gym memberships, transportation subsidies, and educational assistance.
The purpose of offering fringe benefits is to attract and retain high-quality employees, boost employee morale, promote job satisfaction, and increase overall employee well-being. Fringe benefits are often seen as a way to reward employees and demonstrate appreciation for their contributions to the organization.
It is important to note that while fringe benefits are intended to be additional rewards for employees, they may have tax implications. In some cases, the value of fringe benefits is subject to taxation, either for the employee or the employer, depending on local laws and regulations.
Common Misspellings for FRINGE BENEFIT
- dringe benefit
- cringe benefit
- vringe benefit
- gringe benefit
- tringe benefit
- rringe benefit
- feinge benefit
- fdinge benefit
- ffinge benefit
- ftinge benefit
- f5inge benefit
- f4inge benefit
- frunge benefit
- frjnge benefit
- frknge benefit
- fronge benefit
- fr9nge benefit
- fr8nge benefit
- fribge benefit
Etymology of FRINGE BENEFIT
The word "fringe", in the context of "fringe benefit", originally referred to the decorative trimming or edging of clothing or fabric. Its etymology can be traced back to the Latin word "fimbria", meaning "border" or "fringe". Over time, "fringe" also came to represent something that is at the periphery of something else or something that is not considered to be part of the mainstream.
The term "fringe benefits" was first used in the 1950s and developed from the idea of providing additional perks or advantages on top of an employee's regular salary or wages. These benefits were seen as supplemental or auxiliary, similar to how a fringe is an ornamentation that complements the main fabric. Gradually, the phrase "fringe benefits" gained popularity and became a commonly used term in the field of employment.
Idioms with the word FRINGE BENEFIT
-
fringe benefit
A fringe benefit is an additional perk or advantage that supplements an employee's salary or wages, usually provided by an employer as an extra incentive or reward.
Similar spelling words for FRINGE BENEFIT
Infographic
Add the infographic to your website:
