Compensation and Benefits

Compensation and Benefits in Human Resources Management refer to the rewards that employees receive for their work. Compensation typically includes salary or hourly wages, while benefits encompass additional perks such as health insurance, retirement plans, paid time off, and other incentives. Together, they aim to attract, motivate, and retain employees by ensuring they feel valued for their contributions. Effective compensation and benefits strategies align with the organization's goals and help create a positive work environment, promoting employee satisfaction and productivity.