Fringe Benefits - GCSE Business Definition

Fringe benefits are additional rewards given to employees on top of their regular salary or wages to improve job satisfaction and loyalty. They can include health insurance, company cars, free meals, gym memberships, or subsidised travel. For students studying GCSE Business, understanding fringe benefits is important because these can incentivise employee motivation and productivity. They are a crucial part of how businesses manage their human resources. Providing attractive fringe benefits can attract and retain skilled workers, giving the business a competitive edge in the market.