What Are the Benefits of a Total Rewards Package?

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    Financial Compensation

    • An employee's compensation consists of their base salary, overtime and merit increases. This also includes any incentive compensation such as bonuses.

    Healthcare Coverage

    • This piece of a total rewards package encompasses all medical, vision and dental as well as short- and long-term disability insurance offered by an employer. Flexible spending accounts would also fall under this umbrella.

    Retirement Programs

    • Retirement programs offered in total rewards packages may include matching or non-matching 401(k) accounts. In large public corporations, a profit sharing and/or stock purchasing program may be offered as well.

    Tuition Reimbursement

    • Employers will often reimburse workers who choose to continue their education, as long as the field of study is relevant to their job duties.

    Time Off

    • Standard time off includes paid vacation, as well as sick and personal days.

    Additional Perks

    • Many large employers have the ability to offer employee discounts at cultural institutions and retailers.

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