ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Thus, giving employees greater flexibility is one way for companies to show they value employees’ time and commitment. Workplace flexibility includes providing telecommuting options, compressed work weeks or flexible scheduling, job-sharing and generous parental leave policies.

Detailed explanation-2: -The most common benefits are medical, disability, and life insurance; retirement benefits; paid time off; and fringe benefits. Benefits can be quite valuable. Medical insurance alone can cost several hundred dollars a month. That’s why it’s important to consider benefits as part of your total compensation.

Detailed explanation-3: -Traditionally, employee benefits included medical insurance, life insurance, retirement plans, and disability insurance. These were usually mandated. For instance, many countries require that employers provide some type of medical insurance.

Detailed explanation-4: -There are four major types of employee benefits many employers offer: medical insurance, life insurance, disability insurance, and retirement plans.