Perks & Benefits
Why Perks & Benefits
- Attract more candidates
- Increase employee statisfaction and experience
- Improve employee retention
- Boost Morale and productivity
- Promote positive company culture
- Demonstrate commitment to employees
Difference Between Perks & Benefits
Perks
Perks are extra’s that you get ontop of your base salary and sometimes also ontop of your benefits. Perks do not need to have a clear monetary value but they could.
For example a pet friendly workplace is a perk. Discounts or a gym membership could also be a perk. The main difference is that these perks are more extra and benefits cover more basic needs.
Perks could however greatly affect the job satisfaction and touch on more personal preferences on employees.
- On top of base salary and benefits
- Doesnt always have monetary value
- More advanced and unique option
- Greatly affected by personal preference
Benefits
Benefits in most case include something that you get on top of your normal base salary. It is something that has a monetary value. It covers expenses that you would normally have to pay yourself.
Think for example about health insurance or other types of insurance. But also transportation-related benefits like extra compensation depending on what distance you have to travel.
The other main difference is that benefits cover more basic needs compared to perks which are more specific and extra.
- On top of base salary
- Has a monetary value
- Mostly standard options
- Benefit can be calculated
All Available Perks on BeyondWage
All Available Benefits on BeyondWage