Companies have a lot of options when it comes to compensating their workers, but some are luckier in this regard than others. A careful balancing needs to be performed in order to make sure that employers aren't giving too much in order to make their staff content with their pay and free or discounted services.
For example, the products that a business produces can be offered at a discount to personnel in lieu of additional payment. In many cases, these are considered fringe benefits. However, when a company works in an industry associated with benefits, such as healthcare or finance, they may be able to give discounts or free services to their workers. Consult an employee benefit specialist to find out what regulations apply to such offerings to avoid noncompliance with tax code or legal regulations.
Unfortunately, most companies don't have this option and need to determine how worthwhile their services are to workers. The food service industry, for example, has an abundance of extraneous goods that can be given to workers. However, such giveaways aren't always very appealing. By contrast, auto manufacturers have very worthwhile gifts to offer their employees, but each free car represents a substantial loss. Strike a balance between reward and profit to maximize the happiness of each employee.
