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Compensation And Benefits

What is Compensation And Benefits?

Compensation and benefits include the salary or other monetary and non-monetary benefits offered to the employees by the firm. It is one of the essential aspects of HRM since it contributes to employee motivation and retention. Its policy helps in recognizing and rewarding the workforce appropriately, according to their contribution. It is categorized as follows:

  • Fixed pay
  • Variable Bonus
  • Benefits
  • Equity-based compensation
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