Unit 16 Vocabulary — Company Benefits and Compensation

On-site accommodation is a common benefit for employees working in hospitality, especially in hotels.

Company benefits are meant to ensure the financial, physical, and emotional wellbeing of an employee, and are a must-have for any organization.

Bonuses may be given as an incentive to reward an employee's particular hard work, but it is also common for companies to give set bonuses to all employees, such as for a holiday.

Child care assistance can range from covering a part of childcare costs to on-site daycare and more.

Commuter benefits are important because traveling expenses can be very high, especially for employees who live far away from work.

Company sponsored events come in many shapes and forms, from team building activities to company getaways, dinners, office parties, to networking events, etc.

At the workplace, compensation is commonly thought of as monetary, but oftentimes includes a variety of benefits and perks that go beyond a base salary.

Thanks to going above and beyond in her work every day, she was nominated for the employee-of-the-month award as part of her branch's employee recognition program.

Employee stock options are a popular form of compensation at startups, because while they may not have the financial means to pay high salaries yet, the possibility of a higher payout later on could be beneficial for both company and staff.

I am grateful that my office offers flexible work hours because I have a long commute to work, and don't have to worry about being late this way.

Depending on which country you live in, health insurance can be a crucial employee benefit, as medical care could otherwise be very expensive.

Martha and Katya use job-sharing to be able to spend more time at home raising their children, with Martha covering the position on Mondays and Tuesdays, co-working on Wednesdays, and Katya being at work on Thursdays and Fridays.

Mental health support used to be unheard of, but has established itself as an immensely popular job benefit, following the rise in mental health awareness.

It is a challenge to find a great mentor, because while it is important to seek a professional match, you also need to click with them on a personal level.

Paid leave typically covers a range of scenarios including vacation, sick leave, parental leave, disability, public holidays, bereavement and more.

Depending on your location and company, parental leave may be unpaid, which sometimes leads to new parents forfeiting this right.

Employers must factor in inflation when determining their employees' annual pay raises, so as to make sure they actually earn more money.

Many people argue that benefits are a non-negotiable must-have at companies, whereas perks are simply nice-to-haves.

He always worked hard and conscientiously, hoping his supervisor would recognize it and grant him a quick promotion.

Some companies like Google have hybrid work models, combining on-site work with remote work, allowing employees to work from home for two days of the week.

It's good to have a retirement plan in place, so you won't have to worry about having enough financial means when you're old and unable to work.

My high school biology teacher took a sabbatical after he suffered from burn-out.

Salaries are usually paid monthly, but referred to as an annual sum, like when I told my mom that I would be making $80,000 at my new job.

Student financial assistance is a very popular benefit in the US, since college tuition is very expensive there.

It is common for office wellness programs to include on-site fitness centers, healthy snacks, yoga and massages, or napping rooms.