What are "employee benefits"?

The definition of "employee benefits" encompasses a wide range of compensatory offerings that organizations provide to their employees beyond standard wages or salaries. These benefits can include health insurance, retirement plans, paid time off, and various other forms of non-wage compensation designed to enhance the overall compensation package for employees.

This broader notion of employee benefits plays a crucial role in attracting and retaining talent within a company. Unlike direct compensation like wages, which compensate employees for their time and effort, employee benefits are designed to support employees' well-being and enhance their overall job satisfaction. They recognize the value of employees and contribute to a positive workplace culture.

The other options, while related to employee compensation, do not capture the full scope of what constitutes employee benefits. Wages for overtime work are categorized as compensation for hours worked beyond the regular schedule. Employee discounts specifically refer to price reductions on products, which are a form of perk but don't capture the broader benefits category. Year-end bonuses relate specifically to performance or company profits and do not encompass the ongoing support for employees' needs that benefits typically provide. This highlights why the chosen answer aligns best with the comprehensive concept of employee benefits.