Question

what is compensation
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Answer 1

Answer:

Compensation is the total cash and non-cash payments that you give to an employee in exchange for the work they do for your business. It is typically one of the biggest expenses for businesses with employees. Compensation is more than an employee’s regular paid wages. It also includes many other types of wages and benefits.

Types of compensation include:

Base pay (hourly or salary wages)

Sales commission

Overtime wages

Tip income

Bonus pay

Recognition or merit pay

Benefits (insurances, standard vacation policy, retirement)

Stock options

Other non-cash benefits

Answer 2

Answer:

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