Fringe Benefits
Fringe Benefits
What are Fringe Benefits?
Fringe benefits are benefits that are included on top of an employee's regular pay. Fringe benefits are what most of us will call normal employee benefits, despite the name suggesting they are rare or special.
The term fringe benefits are often used in HR Management under the domain of compensation and benefits. Sometimes, Medical reimbursements are under the said domain, and at other instances paid left might be the same domain of relevance as far as both the Employer HR Department and Employee’s perspectives are concerned, but on the contrary when an employee mental models that these are the basic needs and rights of employee, though the leaves have never been a right as a matter of legal concern, those scenarios are known as fringe benefits when the said facilities are missing somewhere somewhat having different organizational design and budgetary allocations regarding projects, etc.
What is more about the domain, is the tax free fringe benefits at some points in time, are there, for example educational, scholarships, health savings accounts, tuition concessions, working condition benefits, retirement plans service(s), employee concessions, and stocks, athletics, accidental health covers, awards regarding achieving something target orientation, and adopting-assistance, etc.
Related: Employee Benefits, Benefits Administration, Employee Benefits Administration, Affordable Care Act (ACA), Retention Strategy.