Compensation and Benefits is the combined package of monetary payments (e.g., salary) and non-monetary perks (e.g., health insurance) offered to employees as part of their total rewards.
- What are compensation and benefits?
Answer: It is the combination of salary and non-monetary perks like health insurance. - What are examples of benefits?
Answer: Examples include paid leave, retirement plans, and wellness programs. - How do compensation and benefits attract employees?
Answer: They enhance job appeal and support employee well-being. - What is the employer’s role in managing compensation and benefits?
Answer: Employers design packages, administer benefits, and ensure legal compliance. - How often are compensation and benefits reviewed?
Answer: They are typically reviewed annually or during performance evaluations.
