Flexible benefit plan
Flexible benefit plans are negotiated in lieu of fixed benefits, employees can choose the benefits that fit their needs among a designated list and within a price established by the contract. Usually includes medical insurance, vacation, pensions, and life insurance.
Definitions
According to Labor Relations and Collective Bargaining by Michael R. Carrell and Christina Heavrin (10th edition),
- Flexible benefit plans. Negotiated in lieu of fixed benefits, employees can choose the benefits that fit their needs among a designated list and within a price established by the contract. Usually includes medical insurance, vacation, pensions, and life insurance.
Related concepts
- Labor relations. The systematic study of attitudes, motivations, and behaviors which two or more job-market actors assume toward each another.
