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What is an employee compensation benefit?

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What is an effective compensation benefits package that influences an employee to work for an organization?

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Solution Summary

Employer provides employee monetary and non-monetary compensation in exchange for work, time and service.

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An organization offers a compensation package to its employees for the service they provide to the institution. The compensation acts as an incentive to reward employees for their work performance.

An organization creates an effective compensation benefits package to attract and keep qualified employees. Compensation comprises benefits paid to an employee, such as wages or salaries, paid vacation days, sick days, bonuses, retirement, health insurance, and disability insurance.

According to an article by Old National (2017), employers ...

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  • MA, Capella University
  • BA, Empire State College, NY
  • MBA, Empire State College, NY.
  • PhD , Concordia University
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