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Types of Compensation: Everything HR Needs to Know

HR Lineup

Compensation goes beyond just the salary paid to employees and includes various elements designed to reward and recognize their contributions. HR professionals play a crucial role in benchmarking salaries against industry standards, ensuring internal equity, and addressing any pay disparities within the organization.

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A Comprehensive Guide to Total Rewards (And How to Master It)

Vantage Circle

It includes the money paid to employees in wages, salaries, bonuses, perks, and other intangible benefits. Some non-monetary rewards include opportunities to learn and grow, extra time off, profit-sharing plans , wellness memberships, etc. Good benefits are critical to employee retention and performance.

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