Legally Required Employee Perks
On the other side, there are legally required employee perks that every corporate organization must provide to its employees. Such incentives could include cash payments for unexpected unemployment. Yet, the statutory criteria specify the types of organizations that must comply as well as the minimum scope of the offers.
Housing Assistance
An employer may elect to give housing to specific employees for the term of their job. This type of program is intended to assist employees feel at ease at work.
Health Insurance Coverage
The company can also pay for insurance coverage for the employees' health in order to demonstrate concern for the employees and to assist in retaining them given the quality of care.
Tuition Reimbursement
Tuition reimbursement: some employers often encourage the workers to enhance their knowledge through studies and end up paying for their fees. Such firms focus on promoting the level of expertise as well as inspire the workers to stay for long in the enterprise.
Profit Sharing
Profit sharing: the employer who do this usually dedicate some portion of the proceeds to share to the workers as appreciation for their work. The motive is to make the employees motivated so as to improve profitability.
Domestic Help Servants
Domestic help servants: some companies will often allow their senior employees to hire house helps and pay on the individuals' behalf. However, the number of the house helps and the amount payable are often restricted.
Retirement Savings
Retirement savings: some employers, though not required by law would often create retirement benefit schemes where that help the workers save some money for future use after retirement.
Paid Leave
Paid leave: even though the employment laws in various nations require that personnel is entitled to some duration of vacation or sick leave, the employers are left to decide whether to pay for the days spent out of work. Notably, some companies would often pay as an incentive to encourage the employees to stay in the respective organizations for an extended duration of service.
Workers Compensation Insurance
Workers Compensation insurance for those injured at work: the employment laws in every nation has it as a requirement that each organization takes care of the treatment costs of whoever gets hurt in the line of duty. Therefore, enterprises will often consider such occurrences and insure employees against the factory accidents.
Family and Medical Leave
Family and medical leave: the law further requires that every organization to grant permission to the employees to attend to their close relations in the case of a domestic problem that needs a worker's attention or when one is sick.
Unemployment Insurance
Unemployment insurance: employers are required by law to pay some amount of money to insurance trust fund so as to cater for the financial assistance of their employees who lose jobs due to factors beyond their control such as insolvency of the employer.
Social Security Contribution
Social security contribution: the contribution entails the remittance of some portion of the employees' salaries to the national trust fund by the employers. The companies also pay some part of the money on behalf of the workers to the kitty. The employees are then paid the money after they attain the retirement age.
Prescribed National Health Insurance
Prescribed national health insurance: different nations have got particular national health insurance that every employer should remit money on behalf of the workers. The insurance than cater for the treatment of the personnel and some of their dependents in the case that they fall sick.
Reinstatement After Military Service
Reinstatement after military service: in the course of work, some employees might get engaged in the military activities that make them unable to attend to their employers. For instance, the professional doctors might be called upon to serve in the army for some time before resuming their usual job. In such cases, the law requires that the persons involved be reinstated.
Minimum Set Wage
Payment of minimal set wage: the law also sets a minimum amount that an employer can pay to a worker. The employers are then prompted by law to honor the requirement.
