- Entitlements refer to the rights, benefits and privileges an employee is legally entitled to receive as a part of their employment agreement.
- Remuneration refers to the total compensation or payment that an employee receives for their work and services.
- Perks are additional benefits or advantages that are provided to employees beyond their regular regular salary or wages.
- All these entitlements and benefits will be stated in the employment contract when you receive your job offer.
- Apart from the salary, you should also consider these benefits before making an acceptance decision.
In order to retain and motivate employees, companies often provide monetary and non-monetary benefits.
Here are some examples:
| Monetary | Non-monetary |
|---|---|
| Wages, Salaries, super (11%), bonuses, shares, retirement package, entertainment allowance, promotions | Company car, free gym membership, extra annual leave, phone / devices, insurance, training, job rotation |