Employee Compensation and Benefits

Employee compensation and benefits refer to the financial rewards and additional perks that workers receive from their employers. Compensation typically includes salaries or wages for the work performed, while benefits are extra offerings such as health insurance, retirement plans, paid time off, and bonuses. Together, these elements are designed to attract, motivate, and retain employees, ensuring they feel valued for their contributions. A well-structured compensation and benefits package can enhance job satisfaction and overall company morale, creating a more productive and committed workforce.