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The financial remuneration given by the organization to its employees in exchange for their work

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Wages are hourly compensation paid to operating employees.

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Salary is paid for the total contribution of an employee and is not based on total hours worked.

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Incentives are special compensation opportunities that are usually tied to performance.

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Provide a reasonable standard of living

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Provide a tangible measure of an individual’s value to the organization

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Things of value other than compensation that an organization provides its workers

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Pay for time not worked

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Life, health, and other insurance

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Service benefits

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Cafeteria benefit plans