Advantages of Fringe Benefits


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  1. Support employee remuneration:

Fringe benefits provide solid support to remuneration paid to employees. They enhance employee earnings and provide benefit in kind which is as important as cash benefit. Such benefits offer higher standard of living to workers and make their life happy,

  1. Raise employee efficiency and productivity:

Fringe benefits improve efficiency and productivity of employees. It creates efficient, satisfied and co-operative labour force which is one important asset of a business organization.

  1. Added employee attraction:

Fringe benefits act as an added attraction to employees It attracts competent personnel towards the organization and retain personnel over a long period.

  1. Reduce employee fatigue:

Fringe benefits reduce monotony and fatigue of employees. They make employees efficient and co-operative for whatever organizational changes required to be introduced.

  1. Raise employee morale:

Fringe benefits raise the morale of employees. They develop affinity for the organization. This lead to cordial industrial relations and avoids industrial disputes, strikes and lock-outs,

  1. Develop good corporate image:

Fringe benefits develop good corporate image and raise market standing /good will of the organization. Offering liberal fringe benefits is as good as adding prestige to the organization.

  1. Act as motivating force:

Fringe benefits act as a motivating force. They motivate employees and induce them to work for the progress and prosperity of the organization.

 

 


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