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What are fringe benefits
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If you’re looking to improve your employee experience by enhancing your compensation and benefits package, you may have encountered the term fringe benefits. • This video will define fringe benefits and explain why they’re essential for organizations of all sizes. • Read our guide for more: https://www.peoplekeep.com/fringe-ben... • Learn more about offering employee perk stipends: https://www.peoplekeep.com/employee-s... • CHAPTERS: • 0:00 - Introduction • 0:27 - What are fringe benefits? • 1:06 - Why offer fringe benefits? • 1:37 - What are examples of fringe benefits? • 2:14 - Who can offer fringe benefits? • 2:34 - How to administer fringe benefits • 3:38 - Conclusion • Generally speaking, fringe benefits are an umbrella term for any benefit that isn’t considered traditional. Many businesses offer traditional benefits such as group health insurance, dental insurance, vision coverage, life insurance, or retirement plans. Fringe benefits encompass other types of benefits that attract and retain workers. • However, the IRS categorizes fringe benefits as a form of payment for services. They have a list of these official fringe benefits in Publication 15-B. • Fringe benefits are an excellent way to increase employee satisfaction and reduce employee turnover. They can also help you attract job candidates for your open positions. • If you’re new to providing fringe benefits to your employees, a benefits administration software solution can help you easily manage your benefits. At PeopleKeep, we specialize in helping organizations of all sizes offer personalized benefits their employees love. Our benefits administration software for health reimbursement arrangements, or HRAs, and employee stipends has helped thousands of employers reimburse employees for expenses like health, wellness, and remote work costs. • PeopleKeep is the leader in personalized employee benefits administration software. We make it easy to create and manage your employee benefits and perks, such as HRAs and stipends, in minutes. • Since starting in 2006 as Zane Benefits, we've helped thousands of organizations offer affordable benefits to their employees. • #fringe #fringebenefits #employeebenefits #employeeperks
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