Concept of Fring benefit

 These days most company provide many types of financial and non financial benefits to employees to retain, motivate and maintain of employees Fring benefits is one of an important techniques that is used by most company of world economy. 

The addition financial benefits that is given by the company to their employees to maintain and motivate employees. This additional financial benefits is called Fring benefits. 

In other words we can say that the competition in addition to direct wages or salaries given to employees is called Fring benefits. 

Example of Fring benefits-

1. Health insurance. 

2. Interest free loan. 

3. Car facility. 

4. Discounted meal. 

5. Higher education plan. 

6. Laptop, mobile facilities. 

Objectives- 

There are many objectives of Fring benefits. These objectives are as below-

1. To motivate employees towards their work, job and organization. 

2. To increase job satisfaction of employees. 

3. To increase productivity of organization. 

4. To increase sales volume of organization. 

5. To increase level of morale of employees. 

6. To decrease absenteeism of employees. 

7. To decrease turn over rate of employees. 

8. To improve industrial relations. 

9. To improve employees to employees relationship. 

10. To improve employees to management relationship. 

Advantages-

There are many advantages of Fring benefits. These advantages are as below-

1. It makes the function of organization more effective and efficient. 

2. It motivates employees to provide their best knowledge, talent and skill for the development of organization. 

3. It helps to organization to maximize the production. 

4. It improves the performance of employees. 

5. It increases the job satisfaction level of employees. 

6. It increases the level of morale of employees. 

7. It decreases absenteeism of employees from organization. 

8. It decreases turn over rate of employees from organization. 

9. It improves the attitude of employees towards organization. 

10. It helps to make progressives environment of organization. 

11. It also helps in goal achievement process of organization.