Compensation and benefits overview

Compensation and benefits are two important aspects of human resources. Compensation includes wages and salaries, while benefits include things like health insurance, vacation time, and pension plans. Compensation and benefits are important because they can help attract and retain talented employees.

Are benefits a subset of compensation?

Benefits form a subset of compensation.
Compensation is a way for an organization to attract the best talent.
Benefits are used as a means to motivate employees to perform better.
Compensation can be monetary or non-monetary.
Benefits are always non-monetary.
Compensation is a direct payment for the work an employee performs at a company.

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