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The following are typical benefits that may be offered by employers as part of the remuneration package:
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Employers are now paying more attention to salary surveys to ensure that they are offering competitive packages to attract the right candidates. Remuneration can take many forms, such as pension contributions, stock options, bonuses, healthcare and subsidies among others. Companies are also becoming more diverse in their offerings. Attracting and maintaining senior executives in the market is very competitive and the overall remuneration package can sometimes be the deciding factor. Ultimately, benefits are in place to attract the right candidate but in doing so they improve employees' Quality of Life. |
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There is an increasing trend towards allowing employees a greater degree of choice and flexibility in designing their own benefits package, but offering flexible ('flex') benefit programs. Under the 'flex' model a company's rewards package is divided between core benefits plus an allowance the employee can spend on preferential extras, to suit their personal needs. |
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These benefits may include:
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Some employers offer benefits in the form of flexible work options, such as flexitime or compressed work weeks, telecommuting or satellite workplaces, floating holidays or holiday carryover. Employers often offer flexibility in career paths too, for example, job sharing or part-time work. Some employees place more value on these type of benefits than on monetary reward. Although benefits might not be a deal-breaker for a candidate, they certainly add to a company's overall image as an employer of choice. |
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