Question

What do you mean by compensation? explain the main elements of compensation?

Answer 1

Compensation is the monetary benefit which is given to an employee or worker giving their services to an organization. Compensation includes components like salary, wages, bonuses etc. The compensation provided helps in motivating the employees, build their career and ensure that their are committed in achieving the company goals.........


mains elements are :-

benefits and insurance
base salary
bonus
ownership stakes
employee perks
lifestyle and flexibility......etc