HR best practices

The purpose of offering benefits is to improve employee satisfaction, retention, and productivity, ensuring a happy workforce.

Benefits in kind refer to non-cash perks like company cars or gym memberships, which are sometimes subject to taxation.

A benefit claim allows employees to apply for benefits like health insurance or retirement savings provided by their employer.

Taxable employment benefits include company cars, housing allowances, and certain types of bonuses or perks.

A flexible benefits package allows employees to choose from a range of benefits options, customizing their perks to suit their needs.

Companies with the best benefits attract top talent by offering competitive packages including health insurance, retirement plans, and more.

Labour cost includes wages, benefits, and taxes paid to employees for their work, impacting overall business expenses.

Cost per job refers to the total expense of hiring and training an employee, helping businesses optimize recruitment costs.

Salary cost includes wages, benefits, and taxes, which make up the total cost of compensating employees.

HR policies outline how employee relations, benefits, and conduct are managed within the organization.