Perquisites
Executive perquisites, or "perks," constitute a form of compensation or benefits that recognize the value of the executive to the company, extraordinary demands on his or her time and other unique conditions and typically are not available to other employees.. Some perks are structured to maximize executive work time including drivers to and from work, annual physicals, installation of home communications systems, financial planning, and the use of company aircraft. Others recognize the unique positions of executives, especially CEOs, by providing security both at home and when traveling (particularly in foreign countries). Executive perks constitute a modest component of executive pay (less than 5%), and have been in nearly continuous decline in both median value and prevalence over the past several years. However, they remain a key focus in the media because of their symbolic value, and thus are an important consideration for companies as they refine their executive pay packages.