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Compensation
what do you mean by Compensation?
- Typically, compensation refers to monetary payment given to an individual in exchange for their services.
- In the workplace, compensation is what is earned by employees. It includes salary or wages in addition to commission and any incentives or perks that come with the given employee’s position.
- Paid employees as well as outside or temporary consultants are entitled to compensation, meaning the individual will be paid for the product or service they provide.
- A broader compensation definition includes monies owed as a recompense to an injured or otherwise wronged party by the party responsible.
Learn more about compensation refer:
https://www.sage.com/en-us/blog/glossary/what-is-compensation/
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Is this referred to as compensation. something provided or received in exchange for goods, services, obligations, damages, pain, lack, etc. indemnification
What is meant by compensation?
- Compensation is typically used to describe a monetary payment made to a person in return for their services.
- Compensation at work is something that workers have worked for.
- In addition to commission, it includes the employee's pay or earnings as well as any bonuses or benefits that come with the job. something provided or obtained as compensation for goods or services, a debt, a loss, a suffering animal, a lack of something, etc.; indemnity. For the loss of his car, the insurance company gave him a $2000 reimbursement.
- All financial and non-financial benefits that an organization gives to its employees in exchange for their work are referred to as compensation in the field of human resource management.
- The base pay, bonuses, commissions, benefits, and other perks might all fall under this category. The sum of an employee's wages is known as compensation.
To learn more about compensation refer to:
https://brainly.com/question/7227453
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