What are perquisites commonly known as?

Perquisites, often referred to as perks, are additional benefits provided to employees beyond their regular salary and standard benefits package. These perks can include a variety of items such as company cars, gym memberships, additional paid time off, flexible work arrangements, or even exclusive events. The term "perks" has become a colloquial and widely recognized way to characterize these non-monetary advantages that enhance the overall compensation and job satisfaction of employees.

By grouping these benefits under the term "perks," companies can create a more appealing and competitive work environment, showing employees that they are valued and appreciated for their contributions. This kind of terminology is crucial in human resources discussions because it helps clarify the type of additional compensation employees might expect. Other terms like bonuses or rewards typically imply monetary compensation or recognition rather than the broader range of benefits covered under perquisites.