What are the main types of employee benefits?

Pension schemes: these are generally regarded as the most important employee benefit

and are described in the next part of this chapter.

Personal security: these are benefits that enhance the individual’s personal and family

security with regard to illness, health, accident or life insurance.

Financial assistance: loans, house purchase schemes, relocation assistance and discounts

on company goods or services.

Personal needs: entitlements that recognize the interface between work and domestic

needs or responsibilities, eg holidays and other forms of leave, child care, career breaks,

retirement counselling, financial counselling and personal counselling in times of crisis;

fitness and recreational facilities.

Company cars and petrol: still a much appreciated benefit in spite of the fact that cars

are now more heavily taxed.

Other benefits that improve the standard of living of employees such as subsidized

meals, clothing allowances, refund of telephone costs, mobile phones (as a ‘perk’ rather

than a necessity) and credit card facilities.