Other Benefits

Flexible Benefits were introduced in recognition of the fact that employees’ needs differ depending on their situation, and in response to requests for additional coverages such as day care, fitness club memberships etc. Certain core benefits may be required (e.g. life insurance, disability) and then there is a set dollar amount per employee to select other options. If employees do not use the full dollar amount to purchase benefits, some companies pay the balance to a cash account for the employee.

Other Benefits The perceived value of benefits depends on employees’ needs. Some things valued by employees include paid tuition, paid education leave, extra time off, flexible hours, and telecommuting.

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