Corporate Welfare refers to the set of services, benefits and payments that a company grants to its employees with the aim of improving their private life and work performance.
The benefit of a good corporate welfare program is seven times greater than the economic benefit because the company transmits attention to its people fueling engagement.
A good corporate welfare plan is developed in several steps:
The proprietary platform of Eudaimon is called Welfare Experience: specifically designed to enhance the content of the corporate welfare programme and facilitate user navigation so that requests can be handled quickly and easily.
The stability law of 2016 introduced the possibility, depending on the worker’s choice, to convert the performance bonus into welfare. It also extended the scope of the services that can be inserted into the contracts and the company regulations.
The subsequent budget laws extended the perimeter of corporate welfare.
At article 51, this law governs which income does not constitute income from subordinate employment. The company can therefore pay this income to the employees without contribution and tax burdens.
The circulars, resolutions and appeals of the Inland Revenue Agency interpret and define legal aspects of budget and stability laws and the rules present in the Consolidated Law on Income Tax.
A group of services designed and built with the purpose of responding effectively to the needs of employees and their families.
Corporate welfare is the most efficient form of transferring resources between the company and its people. For the worker, welfare does not contribute to income generation and for companies having a welfare plan offers significant tax advantages.
Where provided by the CCNL, the provision of welfare initiatives is mandatory. In this case the value of the services to be provided is also indicated.
Some national collective labour agreements introduce obligatory measures of corporate welfare. Among the active collective employment contracts, we find goldsmiths and jewellers, telecommunications, metalworkers.
Welfare on top is provided voluntarily by the company, according to specific company regulations. It can be intended for the entire company population or replace forms of rewards
In case of specific second-level company agreements, performance bonuses may benefit from preferential taxation and thus be converted into welfare goods and services.