What term describes benefits provided to employees that are beyond monetary compensation?

Prepare for the SACE Stage 2 Economics exam with a comprehensive quiz. Study through flashcards and multiple-choice questions, each featuring hints and explanations for thorough understanding. Get ready for your exam!

The term that accurately describes benefits provided to employees beyond monetary compensation is "Non-Wage Outcomes." This encompasses various types of non-financial rewards, such as health insurance, retirement plans, paid time off, flexible working hours, and professional development opportunities. These benefits are designed to enhance employee satisfaction and well-being, contributing to a positive work environment and overall job security.

In contrast, options like Wage Outcomes refer specifically to the monetary aspects of compensation, which do not include the broader spectrum of non-monetary benefits. Compensation Benefits may suggest a more inclusive term but does not distinctly point to the non-cash elements. Bonus Outcomes typically refer to additional cash rewards that are contingent upon performance, failing to capture the diverse range of non-monetary benefits available. Thus, "Non-Wage Outcomes" is the most accurate and comprehensive term for the various forms of employee benefits beyond direct salary.

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