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perquisite

noun

/ˈpəːkwɪzɪt/

IPA:

Dictionary definition of perquisite

Often shortened to "perk", refers to a benefit, privilege, or advantage that is given in addition to an employee's regular salary or wages.
"The position came with certain perquisites such as free travel and accommodation."

Detailed meaning of perquisite

It is often provided by an employer as an incentive for employees to work for them, or to retain their services. Examples of perquisites can include health insurance, retirement plans, company cars, stock options, or a flexible schedule. These benefits can be monetary or non-monetary and are considered a privilege that is given in addition to an employee's regular compensation.
Perquisites can be an important part of the total compensation package offered by an employer, and can be a significant factor in an employee's decision to accept or decline a job offer. Perquisites are also used to attract and retain high-quality employees, and to maintain a positive relationship between the employees and the company. Overall, perquisite refers to any benefit or advantage, other than salary, that is given to an employee as a part of their compensation package.

Example sentences containing perquisite

1. The executive's company car is a much-appreciated perquisite.
2. Along with her title, she enjoyed an additional perquisite.
3. Having a corner office view is a perquisite he always wanted.
4. In the corporate world, a good parking spot is a hidden perquisite.
5. Many consider the flexible hours as the best perquisite of the job.
6. Among all benefits, the travel allowance is a notable perquisite.

History and etymology of perquisite

The noun 'perquisite,' commonly abbreviated as 'perk,' has its roots in Latin. It derives from the Latin word 'perquisitum,' which means 'something acquired or gained.' In the context of employment, perquisites originally referred to any incidental profits or gains beyond one's regular wages. Over time, the term evolved to denote specific benefits, privileges, or advantages provided to employees in addition to their standard compensation. These perks can include bonuses, allowances, company cars, health benefits, or any other supplementary benefits offered by employers to enhance the overall compensation package and attract and retain talent. The term 'perquisite' continues to be used in the corporate world to describe these supplementary advantages enjoyed by employees.

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Further usage examples of perquisite

1. Access to the executive lounge became his favorite perquisite.
2. The job offer was enticing, especially with the health perquisite.
3. Monthly massage sessions were a delightful perquisite for staff.
4. Having free gourmet meals daily is a tasty perquisite indeed.
5. Some argue that the networking opportunities are the greatest perquisite.
6. The early access to products was an exclusive perquisite for team members.
7. Being able to work remotely turned out to be a life-changing perquisite.
8. While the pay was good, the training program was a beneficial perquisite.
9. Access to top-tier industry events was a notable perquisite of her role.
10. The ability to use company facilities became a sought-after perquisite.
11. Attending international conferences was a unique perquisite for managers.
12. The annual retreat to the Bahamas was a luxurious perquisite.
13. The team valued the monthly book allowance as an educational perquisite.
14. Having one-on-one mentoring sessions was a transformative perquisite.
15. The casual Fridays, for many, turned out to be a fun perquisite.
16. The firm's wellness program was a health-centric perquisite appreciated by all.
17. Access to premium software tools became an indispensable perquisite for designers.