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Compensation Definition

April 6, 2017

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Term Definition
Remuneration offered by an employer to an employee in cash or kind in lieu of the services offered to the company during a pay period.

Extended Definition
Compensation is remuneration for the services offered by an employee to an organization. It can be in cash or kind. It includes salary and wages as well as non-cash benefits like retirement payments and health insurance.

Related Blog Article:
Non-Employee Compensation
What is Compensation?
The Owner’s Compensation: How Much is Enough?
Payroll Question of the Day: How Should I Pay Myself?
How to Set Salaries

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