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By Andrea Giordan - Manager Leoni Grant Thornton & Partners

The term ‘fringe benefit’ or ‘corporate welfare’ refers to the set of payments in kind that an employer can make available within a subordinate employment relationship, which are added to the ordinary monetary remuneration [...]

 

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By Marco Agnoli - Partner Leoni Grant Thornton & Partners

Within the implementation of retention policies – which are increasingly more appropriate to retain talents – and with the necessary attention to cost containment, in recent years companies are increasingly using remuneration policies implemented [...]

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By Emilia Scalise - Labour Consultant Leoni Grant Thornton & Partners

In an increasingly competitive labour market, employers are showing a need for different instruments for retaining their personnel, especially key workers, and for attracting new resources, at the lowest possible [...]

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Fringe Benefits and Corporate Welfare

Fringe benefits, or corporate welfare, are payments in kind granted by employers to their employees, in addition to monetary remuneration. They are goods or services that may be granted for free or at a subsidised price, and granted either individually or collectively, and aim to retain employees and improve wellbeing at work.

In recent years, their use has increased in order to reduce the tax wedge and ensure a higher effective remuneration; in addition, they can result from the conversion of performance bonuses. The constantly evolving regulations require careful management to optimise costs and benefits, with the support of specialised consultants.

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