Compensation and benefits
Compensation and benefits are the financial and non-financial rewards offered to employees in return for their work. It is an important aspect of human resource management and plays a key role in attracting and retaining top talent. Compensation is the monetary payment that employees receive in return for their work, such as a salary or hourly wage. It is usually based on the employee’s level of education, experience and skills, as well as market rates for similar positions. Benefits, on…