The correct word used to describe the given statement is "Employee benefits"
This refers to those perks and good things which an employee enjoys which are work-related and include medical, dental, life insurance, etc.
Hence, we can see that these are part of the employment package and are usually negotiated before an employee is accepted into an organization and are for the well-being of the employee.
Read more about employee benefits here:
https://brainly.com/question/25861992
