Fringe benefits are additional perks provided by employers to enhance the overall compensation package for employees. These benefits can include items such as health insurance, retirement plans, paid time off, and bonuses. They are designed to improve employee satisfaction and attract talent. These benefits go beyond regular wages and can significantly impact an employee's financial well-being. For example, health insurance can help cover medical expenses, while retirement plans like 401(k)s assist in saving for the future. Overall, fringe benefits play a crucial role in employee retention and motivation.