Compensation and benefits definition and example

Types of compensation in HRM
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..
What is compensation and example?
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..

Total personal income minus current income taxes

Disposable income is total personal income minus current income taxes.
In national accounts definitions, personal income minus personal current taxes equals disposable personal income.
Subtracting personal outlays yields personal savings, hence the income left after paying away all the taxes is referred to as disposable income.

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Compensation and benefits definition and example

Types of compensation in HRM

What is compensation and example?