Question

Distinguish between tangible and intangible benefits.

Answer 1

Tangible benefits are quantifiable and measurable. They're used to weigh the value of a job. This value is almost always fiduciary. The value of the benefit depends on a person’s skill set. For instance, doctors get higher tangible benefits than a fast-food worker. On the other hand, intangible benefits are much harder to measure because of their subjectivity. Intangible benefits derive from how a person feels about their work. Job satisfaction is a main bench marker of an intangible benefit.

Tangible: Financial Pay and Benefits

Tangible benefits are those listed by the company in a quantifiable form. Such benefits usually are contractual items, such as paid time off, insurance costs, salary and profit sharing. Calculating the tangible benefits and comparing them to tangibles that another company offers is a straightforward measurement. When people first start looking for a job, they usually have a better idea of these tangible benefits than they do of the work’s intangible benefits.

Intangible: Job Satisfaction

Intangible benefits include all of the qualitative advantages of working for an organization. For instance, friendly coworkers, flexibility and a position that matches the worker’s skill set are intangible benefits.