Allowance (money) in the context of "Employee benefits"

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⭐ Core Definition: Allowance (money)

An allowance is an amount of money given or allotted usually at regular intervals for a specific purpose. In the context of children, parents may provide an allowance (British English: pocket money) to their child for their miscellaneous personal spending. In the construction industry, an allowance may be an amount allocated to a specific item of work as part of an overall contract.

The person providing the allowance usually tries to control how or when money is spent by the recipient so that it meets the aims of the person providing the money. For example, a parent giving an allowance may be motivated to teach their child money management, and the allowance may be either unconditional or tied to the completion of chores or the achievement of specific grades.

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👉 Allowance (money) in the context of Employee benefits

Employee benefits and benefits in kind (especially in British English), also called fringe benefits, perquisites, or perks, include various types of non-wage compensation provided to an employee by an employer in addition to their normal wage or salary. Instances where an employee exchanges (cash) wages for some other form of benefit is generally referred to as a "salary packaging" or "salary exchange" arrangement. In most countries, most kinds of employee benefits are taxable to at least some degree. Examples of these benefits include: housing (employer-provided or employer-paid) furnished or not, with or without free utilities; group insurance (health, dental, life, etc.); disability income protection; retirement benefits; daycare; tuition reimbursement; sick leave; vacation (paid and unpaid); social security; profit sharing; employer student loan contributions; conveyancing; long service leave; domestic help (servants); and other specialized benefits.

The purpose of employee benefits is to increase the economic security of staff members, and in doing so, improve worker retention across the organization. As such, it is one component of reward management. Colloquially, "perks" are those benefits of a more discretionary nature. Often, perks are given to employees who are doing notably well or have seniority. Common perks are take-home vehicles, hotel stays, free refreshments, leisure activities on work time (golf, etc.), stationery, allowances for lunch, and—when multiple choices exist—first choice of such things as job assignments and vacation scheduling. They may also be given first chance at job promotions when vacancies exist.

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Allowance (money) in the context of Au pair

An au pair (/oʊˈpɛər/; pl.: au pairs) is a person working for, and living as part of, a host family. Typically, au pairs take on a share of the family’s responsibility for child care as well as some housework, and receive a monetary allowance or stipend for personal use. Au pair arrangements are often subject to government restrictions which specify an age range usually from mid teens to late twenties, and may explicitly limit the arrangement to females. The au pair program is considered a form of cultural exchange that gives the family and the au pairs a chance to experience and learn new cultures.

Arrangements differ between Europe, where the concept originated, and North America. In Europe, au pairs are only supposed to work part-time, and they often also study part-time, generally focusing on the language of the host country. In the United States, they may provide full-time childcare. In 1969, the European Agreement on Au Pair Placement was signed, and it came into force in 1971. Au pair companies in the United States have significant non-refundable fees once the au pair arrives in the country. The contract does not guarantee childcare, despite many families' reliance on the program.

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LINKED FROM (PARENTS)
← Employee benefits ← Employee benefit ← Au pair
LINKS TO (CHILDREN)
Scout (Scouting) → Fruit picking → Cambridge → England → Money → British English → Money management → Grading (education) →