Employee benefits are a catch-all term for anything that an employer provides to an employee as part of their remuneration package or benefits in kind.
Many components can be included in the overall rewards, such as commission compensation, well-being, medical benefits, personal development, recognition, rewards programs, and wellness programs, to name a few.
Such benefits are used to attract and retain top talent and may include dependents benefits to entice potential candidates to join the company.
We will examine the medical benefit because it is one of the primary concerns for employees when weighing the company's offer.
