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Rise Glossary

What are Employee Benefits?

Employee benefits are non-wage compensation provided to employees in addition to their regular salaries or wages. Examples of employee benefits include health insurance, retirement plans, paid time off, disability insurance, and life insurance. Some companies may also offer employee assistance programs, which provide counseling and other services to help employees with personal or work-related problems, as well as perks such as free gym memberships or transportation subsidies. The purpose of employee benefits is to attract and retain talented employees, as well as to improve their overall well-being.