What term is used for financial extras beyond regular pay, such as health insurance and retirement?

The term "fringe benefits" refers specifically to the additional financial perks and advantages that employees receive beyond their regular salary. These benefits can encompass a wide range of provisions, including health insurance, retirement plans, paid time off, and other forms of non-wage compensation that contribute to the overall value of an employee's remuneration. Fringe benefits are significant because they enhance job satisfaction and can be a critical factor in attracting and retaining talent in the workforce.

While other terms mentioned may relate to employee compensation, they do not capture the comprehensive nature of fringe benefits. "Salary enhancements" typically refer to improvements or increases in wages, while "bonuses" usually refer to one-time payments as rewards for specific performance criteria. "Compensation packages" is a broader term that can include salary, benefits, bonuses, and other forms of payment, but it is not as focused on the specific non-wage advantages that constitute fringe benefits. Hence, "fringe benefits" is the most accurate and widely recognized term for this concept.