Employee Perk

In this section we define Employee Perks in SmartHCM

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Introduction

Employee benefits or employee Perks include various types of non-wage compensation provided to employees in addition to their normal wages or salaries.

Examples of these benefits include:

• Housing (employer-provided or employer-paid) furnished or not, with or without free utilities,
• Group insurance (health, dental, life etc.);
• Disability income protection,
• Retirement benefits
• Tuition reimbursement;
• Sick Leaves

and other specialized benefits.

The purpose of employee benefits is to increase the economic security of staff members, and in doing so, improve worker retention across the organization. As such, it is one component of reward management.

Setting up Perks in SmartHCM

• Select the Employee

Details in query panel would be automatically fetched, when employee is selected

• Input the fields to add perk for selected employee. the perks are earlier setup using Perk Setup, Grade Wise Perks and Perk Category Setup

Note

Using Grade Wise Perks Employees at location of same grade can be given same perks, system allows to have exception if an individual is to be given extra or less benefits.

In SmartHCM, perks can be offered on individual or Grade(Group) basis.