From the course: Human Resources: Payroll
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Employee benefits and fringe benefits
From the course: Human Resources: Payroll
Employee benefits and fringe benefits
- The role of fringe and medical benefits in an overall compensation package is an important strategy to keep your skilled workers in your organization. Google was the first company that really paved the way for other tech companies to step up their fringe benefit game. Before the pandemic, they offered some really unique benefits such as being able to bring your dog to work, never ending snacks, free meals, and onsite guitar lessons to name a few. Some onsite benefits are really starting to come back. Traditionally, fringe benefits can include things such as health insurance, group-term life insurance, educational assistance, child and elder care assistance, employee discounts, employee stock options, and a personal use of a company-owned vehicle. A fringe benefit can be tax exempt depending on the type and the value of the benefit. Some examples of fringe benefits that receive full or partial tax exemptions are…
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