Benefit - (noun)
This is something that employees get in addition to wages or salaries. It is also something useful or profitable which you receive from an organisation (for example a union). For instance, it could be cheaper holidays or legal advice.
It can also refer to money provided by governments - for example, social security, unemployment benefit, or maternity benefit.
Source: Own Definition
Example of Use: (1) Tom explained the benefits of trade union membership to his new colleague. (2) The financial crisis resulted in the freezing of unemployment benefits.