• Olivier

• Shakti Kumar
• Luniva Maharjan
• Sreehari

Compensation and
Benefits
 Meaning

Compensation
The remuneration that an employee receives in exchange for his or her services to the business is referred to as
compensation.

Benefits
Employee benefits are non-monetary remuneration offered to employees as part of their employment agreement.
 Importance of compensation and benefits

 Attracting top talent

 Increase employee motivation
 Boost employee loyalty
 Increase productivity and profitability
 Job satisfaction
 Types of compensation

 Direct Compensation
 Bonus
 Employee rewards
 Sharing of profit

 Indirect compensation
 Internet reimbursement
 Promotion facility
 Transfer facility
 Free scholarship and online courses
 Type of employment benefits

 Paid leave
 Life insurance
 Health insurance
 Wellness programs
 Childcare benefits
 Gym membership
 Retirement plans
 Conclusion

 Compensation and benefits are an essential part of human resource management since they assist employees
stay on the job.
 These incentives keep employees motivated to perform more.
 It enables the firm to reward its personnel based on their performance and to help them excel in whatever
endeavour they undertake.