Perks | Meaning and Definition

What are perks, or what is the meaning of perks?

Perks are benefits or privileges that an employee may receive and their regular salary. Common perks include free food, flexible work hours, and paid vacation days. However, the definition of a perk can vary from company to company, so it’s important to ask about any specific benefits that might be available to you. 

Many companies now offer a variety of perks to attract and retain top talent. If you’re looking for a new job, it’s worth checking out the benefit offerings of potential employers. And if you’re already employed, it never hurts to ask about any additional perks available to you.

Difference between employee benefits and perks

There are several key differences between benefits and perks: 

Benefits are typically granted to employees to comply with applicable laws or regulations, while employers typically offer perks to recruit and retain top talent.

Benefits are generally more important and substantive, while perks may be more trivial (e.g., free lunch, gym membership, parking spot). Finally, benefits are usually available to all employees, whereas perks may be offered selectively to certain individuals or groups.

There is no definitive answer as to which type of benefit is better for employees. Some people might prefer having a wide range of perks to choose from, while others might prefer having a few guaranteed key benefits. Ultimately it comes down to what the individual employee wants and needs.