How to Calculate Fringe Benefits

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Fringe benefits are a strategic tool that employers use to attract top talent. Fringe benefits allow employers to maintain better public perception as well as the brand identity of the organization. Employers can provide employees with additional compensation that helps offset the costs of living and working which results in better engagement and employee wellness. Furthermore, fringe benefits help organizations target good employee retention rates. These benefits also help create a more positive work-life balance for employees, leading to increased motivation, productivity, and satisfaction. All of this adds up and results in increased market competition and business value of the organization.
You calculate the fringe benefit rate by dividing the total cost of fringe benefits an employee receives by the employee's annual salary multiplied by 100.
To learn more, watch the video.
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