What are indirect rewards related to employment known as?

Indirect rewards related to employment are commonly referred to as benefits. These benefits encompass a variety of non-wage compensations provided to employees in addition to their regular salaries. They often include health insurance, retirement plans, paid time off, and other perks that enhance an employee's overall compensation package without being part of their direct earnings.

Understanding the role of benefits is critical in the context of employment because they significantly affect employee satisfaction, retention, and recruitment. Employees often evaluate potential job offers based on the quality and extent of benefits provided, making them a vital aspect of how organizations attract and maintain talent in a competitive labor market.