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Add a couple bullet points answering the questions and then 'like' at least 3 posts you agree with. Don't over think this - this should take you about 5 minutes.

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-Compensation are incentives provided for a good or a service.
-I think this could be money or benefits.
-Elements of compensation may include the level of skill required in the work being done.

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- Compensation is typically money given from an employer to an employee for their labor.
- Compensation is not always just money, in workplaces it can include benefits, vacation time, overtime pay, bonuses or sick days.
- I believe that in order for compensation to be effective the compensation needs to be of value to the person receiving it (ex. money to an employee or justice for a victim)

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- I think compensation is a reward that employees receive in exchange for doing a particular work. Compensation could come in the form of benefit/monetary earning/health care package, etc.
- From my perspective, some of the most essential elements of compensation should include: (1) employment status (full-time/part-time/contract/temporary, etc.) (2) Seniority (3) Level of education (4) Industry and so on.

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-Compensation is a social behavior. It is bound by social morality.
-Compensation often occurs when there is a conflict of interest between the two parties.
-The ways of compensation are often not only monetary, but also different forms of compensation will be formulated according to the situation. This is related to the actual situation of the compensated person.

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- Compensation is an incentive offered by a company to its employees, which can take many forms. Include financial rewards, wages, allowances, insurance, pensions; and non-financial rewards, paid vacation, health insurance, etc.
- Most financial rewards are extrinsic rewards because they are external substantial rewards. And non-financial rewards belong to intrinsic rewards, because they can bring sufficiency and motivation to the employees' hearts.
- Compensation elements may include, performance and quality of work, efficiency of work, company size, etc.

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- Compensation to me is anything that is offered to an individual in return for work, whether that be money, education opportunities, or additional holidays
- Compensation is important not only for achieving company goals, but it is also important to make an employee feel valued for their contributions in order to minimize turnover
- The importance of different aspects of compensation can and will vary from person to person

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- In my opinion compensation is a reward/gift that is given to someone when they over achieve in a certain part of their work or go out of their way to do something for their company.
- Elements that are important in compensation are being hard working, understanding the task at hand, being dedicated, etc.

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- Compensation is the monetary reward in exchange for a good or service
- Often, the value of compensation is representative of merit and may vary
- Compensation can also mean granting someone money to recompense for loss or injury

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- refers to all forms of financial returns, benefits, services
- can be used to motivate, attract and retain employees
- developing good benefits are very useful to most people (ie. jobs that provide life/health/disability insurance or work/life programs)

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- The first thing that comes to mind in regard to my personal definition of compensation is the exchange of money and labour. Often times people will do labour with a prior agreement of being compensated for their work with money.
- Some employees will negotiate their compensation based on what they believe they deserve in return for their work.
- Compensation is not always in the form of money (ie: benefits)
- Some elements that I believe are important in compensation are: agreement, consistency, equity, skill and experience.

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- Compensation is everything from pay for performance, benefits, retirement savings, etc.
- Compensation can vary based on years of service, merit, performance, etc.
- Overall, compensation is one of the main deciding factors for someone when applying for a job.

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- Compensation is a return for work provided, typically monetary or through a different valuable benefit.
- Compensation typically varies based on numerous determining factors, such as length of employment, tenure, education; but also internal equity.
- It is important that internal equity is maintained within an organization to avoid conflict and ensure that employees feel they are being compensated equitably.

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- Compensation is the idea that individuals should receive monetary and personal gains from the work they complete effectively and successfully within an organization.
- The elements that are important within compensation include the scope of work, the difficulty of work, the effort put into said work, rates of success and the organization's culture.
- It is important to reward employees differently depending on the job role/tasks, as well as the level of success. Depending on the industry, understanding the effort and productivity of each individual is important instead of simply assessing if organizational goals/deadlines were met.
- There are many elements that go into designing a compensation system, and it's important that each organization, and even department within, designs a unique pay strategy to retain their employees.

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-I think compensation is the affirmation and reward of someone's labor.
-Important compensation elements include job type, employee qualification, education, and work performance.
-Compensation includes base salary, waves, incentives, and commission.

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- Any payment made by an employer to an employee
-  The employee will contribute their time, effort, and expertise in exchange for compensation.
-This payment can take the shape of a salary, wage, benefits, bonuses, paid time off, pension funds, stock options, and other things.
- direct pay for work that is done

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- Compensation is a kind of remuneration paid by the employer to the employee after labor.
- Compensation can stimulate employees' enthusiasm for work and can retain employees to reduce the turnover rate.
- Compensation is not only the wages and bonuses of employees but also the annual leave time of employees and the retirement benefits for the future.
- I think an essential factor in compensation also includes fairness.

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- The exchange of money and labour is what immediately comes to mind when I think of my own concept of compensation. People frequently agree in advance to receive financial compensation for the labour they perform.
- Some workers will negotiate over their pay based on what they feel they should receive in exchange for their labour.
- Bonuses and benefits are other forms of payment besides cash.
- I think that agreement, consistency, equity, talent, and experience are some factors that should be considered when determining salary.

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- Compensation is something offered in return for services performed; whether it is monetary, another service, a physical object, etc.
- The most important part of compensation is the agreement between the two parties that the compensation is adequate. If one party is unhappy with the agreement, the whole system falls apart
- Compensation can take a different meaning for different people. Some people prefer monetary compensation, some people prefer benefits, others want respect

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- Compensation is the reward given to someone that has provided some type of good or service, it could be in many forms such as benefits, money, other goods etc..

- I think a very important element of compensation is value, each person will perceive different types of compensation as having different value. i.e. someone values vacation over a raise, benefits over pay etc... so that should be taken into account when determining compensation.

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- I believe that compensation is what once receives in return for labor, skill and time which could be monetary or non-monetary such as a phone, a vehicle, insurance or housing.

-Elements of compensation that I believe are important are business strategy, HR strategy, culture values, social and political context, employee preferences and union preferences

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- An exchange of your time or knowledge for something that is valuable to you whether that's money or something else they're able to provide you
- Time is an important consideration in compensation
- Education level is a consideration
- Experience is a consideration
- Compensation is something that people can negotiate until both parties are satisfied

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Compensation refers to the offer of any sort of repayment to an individual who has performed tasks for a corporation, in the form of salary, benefits, or other incentives.

Important elements include type of work, education level, suitable level of task completion, and area of living.

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- When I think of compensation, I think of injury and something that repays with an employee has gone through
- I.e. If an employee was injured at work then they would expect and desire compensation for their injury that had occurred at work
- some examples of compensations could be increased benefits or just benefits in general, a pay raise, reduced work load, added incentives to the work pay (personal kits, hygiene products)
- elements necessary are work, dedication, honesty, supply and demand (are you giving what you are receiving)

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- compensation is typically money given in exchange for goods or services
- compensation usually requires confidentiality between the individuals
- compensation can “make or break” the employer-employee relationship

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-       compensation is the financial return to employees for providing a task and service for a specific job performed and provides employees a means for living.

-       compensation also provides an incentive motivation to benefit employees in the performance
-       compensation offers extra perks and benefits to an employee’s relationship with an employer such as health insurance and pension

-       cash compensation from base pay benefits employees with skills and education for tasks and leaves the door open for growth by offering merit increases based on performance

-       aside from finance behind compensation the nonfinancial returns impact the employee behavior in their chances of learning and development.

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1. I think compensation is one of the way to determine whether a company is operating effectively, because it shows how their employees are going to be treated.
2.  Some important elements could be insurance, money (cash), opportunities, etc.

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- Compensation is the payment given from an employer to an employee
- This is typically money, although it can include benefits, such as vacation time, sick days, etc.
- What is important in compensation is that it drives the employee to work to the best of their abilities
- Compensation is not just repayment, it should be seen as a reward
- The harder you work the better compensation

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Seminar 1: Definitions and elements of compensation 

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Seminar 1: Definitions and elements of compensation 

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-Compensation is the financial and non-financial return employees receive from their employers for the work they produce and the skills/talents they bring to the company.

-Some important elements of compensation are the value of the compensation to the employee as well as the company (ie. an employee with young children may value child-care more than a single employee).

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- To me, compensation is a financial or physical reward from an employer to show appreciation for work done
- It can also be used to find new employees and keep current employees happy
- It can be shown in many different ways such as benefits, insurance, bonuses, promotions
- It's important for compensation to make sense for the person who is getting it but also be fair with the other employees

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-compensation refers to a payment being given to an individual in exchange for their services
-Health insurance, retirement plans and other work-life balance and flexibility is important elements

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·      Compensation can be an employer's reward for good work and hard work. It doesn't have to be money, but it could be gifts, extra vacation time, etc.

·      For me, if the employer needs the employee to do some work during the holiday, the employer can give the employee some compensation as the motivation.

·      The element of compensation involves fairness, which means paying someone for their efforts. Compensation may include salary, bonus, insurance, vacation time, retirement benefits, etc.

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In my opinion,  compensation as a reward for the individual employee in the form of wages, benefits or goods.

The important factors that influence compensation are industry, performance, hours worked, and type of work.

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- Often a form of money given to an employee for their hard work and labour hours
- Can differ for everyone as it can depend on behaviour, skill, education, as well as sex
- Each compensation is made up uniquely to the type of work, organization as well as effort that the business is receiving
- Demonstrates a business is watching and caring about their employees, giving them the fair opportunity to receive extra depending on their determination to the company

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- Compensation is like an incentive, financial or tangible asset in return of the work provided.
- Cash compensation, such as base pay, short or long term incentives, or benefits such as pension, vacation etc.

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- Compensation is a positive reward given in exchange for goods or services
- Compensation in the typical work environment refers to a monetary sum
- In some industries, compensation may also mean paid vacations/free gifts... ie. the 'influencer' industry: many social media influencers are given "experiences" or free products in exchange for promotion
- Adequate compensation makes employees feel seen and appreciated, and that their work is valued. If a position has inadequate compensation (ex. minimum wage for a position with larger responsibilities), the position may experience higher rates of turnover

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-Compensation is what you receive in return for completing a task or providing a service.
-Compensation can come in many different forms, it could be a standard wage, could be benefits or insurance. It can also be a returned favour. Some trades people may go and plumb a house and in return, the electrician will wire his house.
-Compensation is the reason people work, if there was nothing to gain from providing services then no one would work.

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- My personal definition of compensation surrounds the act of compromising an individual or group for providing something or enduring suffering.
- Elements included in compensation can be but are not limited to, service, benefits, vacation time, bonuses, written agreements

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-My personal definition of compensation would be a means of being rewarded or paid for any contribution in a company, business, or any other situation where an incentive is given upon positive reflections of tasks-well done in a workplace scenario.
-Important elements of compensation is the way it is received and when they are most applicable. The compensation should be valuable to those that are receiving it, and it should also be valid. It is important that compensation is given to those who are deserving of it.
-Another important element of compensation is the number of years one has worked for a company, the level of education, and a baseline scale of what is expected at work as to where the level of work has been completed to receive the compensation.

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- My personal definition of compensation is referred to as rewards for completing something (completing a service, favor, task, etc.). I think of compensation primarily as a reward in terms of money. Although it is not always in the form of money - opportunities, benefits, and lenience are also appropriate forms of compensation.
- Important elements in compensation are salary, health benefits, vacation and sick days, bonuses, promotions, etc.
- good compensation elements leads to excellent employee performance, loyalty, and motivation. Employees are more likely to perform at their full potential when fairly compensated for their work.

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-       Compensation is usually a monetary value or other benefits and rewards provided to employees in exchange for their work efforts.

-       Elements within compensation that are important include, long-term employee incentives, appropriate salary and wages, and health benefits and/or insurance.

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_ Compensation is what I am rewarded, paid or benefit from in a professional setting
- I think that fairness in compensation is extremely important, as reflects the quality of work

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- Compensation is a trade off, receiving something of value in exchange for giving something of value. Usually this is in the form of a wage and providing labour respectively.
- This tradeoff requires both parties to believe the service/good being traded are of equal value.
- Compensation can be used to incentives employees into increasing their performance

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Typically when I hear the word compensation it is when something has been wrongfully done to someone such as injury or suffering. compensation is the repayment or reimbursement for the act that has been done.

compensation could be given for an act of service received or a good given.

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In my opinion, compensations are salary or wages that given by employers
I think these elements are important to compensation:candidate’s education level, candidate’s professional skill level, is candidate work hard or no,etc

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- compensation can be an incentive given to people for accomplishing tasks they were given.
-  compensation usually has monetary value.
- compensation for one person may not be enough for another.

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- compensation is something of value in return for doing or completing a service
- compensation is important for employees as it is a factor of motivation
- compensation can be money, vacation hours, benefits, bonuses, etc.

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-I personally believe compensation is a financial incentive given to the employee from the employer for excellent work that has been done.
-Important elements could include advanced skills in the work that is being done, good customer service, a fantastic sales pitch, a fair amount of incentive given as the compensation...etc.

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- To me, compensation is something (which is typically money) that is awarded to an individual for their work. These include; pay, bonuses, awards, benefits etc.
- Compensation can be used to motivate employees to work more efficiently and effectively and also attract new employees - pay rate is generally a huge deciding factor for many people when job searching.
- Elements that are important in compensation are fairness, work dedication and performance, equality, size of the company etc.

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-The exchange of money for your time and service.
-Compensation is a prediscussed wage that an employer will communicate to an employee before they start the job.
-Can be in the form of money or a benefit such as healthcare.
-Could be viewed as a reward for your labor and can vary in the amount depending on the job and experience.

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- Compensation is awarding an employee, employer or manager with different types of rewards in order to recognize achievements and hard work.
- Compensation should be seen as a reward and not be expected from an employee.
- Compensation can be seen in many forms; bonuses, benefits, vacation, etc.
- Compensation can help motivate employees to work harder and increase loyalty.

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My personal definition of compensation is the salary/wages, benefits, and incentives provided to employees in exchange for their labour and contributions to an organization.

In my opinion, salary and benefits are the most important elements in compensation as they allow individuals to achieve and maintain financial stability.

In order for compensation to be fair, it is important for the employer and employee to have an agreement to ensure the compensation is sufficient.

Employers should offer benefits like the opportunity to work from home and flexible work schedules in light of the recent changes and uncertainties that Covid-19 has brought to organizations worldwide. This will not only improve how individuals manage their responsibilities outside of the workplace, but it will also benefit companies as it has been proven to increase productivity and performance.

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- Compensation is what one person can receive for doing a job for another person/ party
- Comes in many forms such as cash, dividends, stocks, really anything that the other party would consider of value
- Some elements can be skill, efficiency, and quality

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- My personal definition of compensation is getting rewarded for doing something for someone or a company. Putting in work means that you are getting something resulting from that work.
- To be compensated properly, you should be paid properly for the amount of work done whether by cash, benefits, or other programs. Compensation should be related to position in the company and experience and skills.

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· Compensation is what is provided to employees from their employer for doing their job.

· Compensation includes a salary or wages, commissions, bonuses and various forms of benefits or perks.

·  Fair compensation is important to an organization as it can directly impact team member performance, job satisfaction and turnover rates.

· Compensation should attract individuals to your organization while motivating existing employees within the company.

· There are various factors that determine compensation. This may include years of experience, education, the industry, the candidates’ skills set, and supply and demand.

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- Compensation is rewarding someone for something they do typically with money
- gives people an incentive to do something
- elements that are important in compensation could be in-demand skill sets, industry, efficiency, supply and demand, years of experience, education level

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- Compensation is what is offered in return for a service. This can be seen in the form of monetary value, benefits, intangible assets, and more.
- Compensative is used to provide incentive towards employees to improve efficiency and motivation to continue their job
- Elements important to compensation includes service provided, hours worked, performance level, and more.

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- I think that compensation is when an organization provides employees/workers with some form of pay in monetary value or in the form of benefits for the employee's work completed
- I believe the important elements in compensation includes discussion of benefits such as life/health insurance, the level of skill required for the job, and understanding of expectations from all parties involved

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- Compensation to me represents the employer's responsibility to the employee to provide them with fair distribution of company resources in exchange for the work they do for the company.
- A few important elements when deciding on compensation are the employees' value that they bring to the company (education, experience, skills, etc.), the specific employee's life situation (may require certain benefits such as child care or work/life programs that other employees might not require), and finally, the willingness of the company to provide certain types compensation to its employees (some employers might not see value in spending more company resources in order to satisfy their employees).

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- For me, personally, compensation is anything you receive in return for a service one provides.
- As I also work, compensation would also mean any kind of salary/wages and/or financial benefits in terms of vacation, employee discounts, etc. This is also important to keep me on the job and get me out of bed to go to work just to get paid.
- Compensation for anything that I do is relevant for me, to keep pushing myself for better targets or goals. For instance, I would let myself use my phone for a little while longer if I completed my assignments on time for University.

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- When I think of compensation I think of the trade of a service/act for something with financial value (monetary or not) for doing that specific service/act.
-From my experience, the following elements are the most motivating while working for my employer thus I think they are the most important: the service being done, the rate of base pay, the time it's being performed, the incentive to gain merit pay and satisfaction with the service being performed.

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- When I think of compensation I often centre my thoughts around the idea of justified reimbursement.
- In my opinion, compensation is a strategy used to counterbalance and neutralize contention within the workplace.
-Although it generates productive outcomes in employees, I ultimately view compensation as a calculated tactic used as a safeguard for inevitable mistakes.
-Personally, I think important elements in compensation largely relate to negative outcomes that the workplace may produce. This includes using money as a substitute for any loss, suffering or injury an employee may experience.

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When I think of compensation, it usually means:
- An exchange in which an person is entitled to after a loss
- Could be a mix of salary, incentives, rewards

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Compensation to me is an incentive that is offered to an individual in exchange for something. This incentive can include money, time off, vacation, or any other form of a reward. It helps motivate individuals to work harder.

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- For me, I believe compensation is the act of reward towards an individual for their high performance and execution of their job. When an individual achieves exceptional job performance, they usually are given compensation to enhance employee satisfaction and company loyalty.
- In a usual circumstance, compensation is usually provided in a monetary fashion, but there are many other methods that satisfy such as stock options, incentives, bonuses, etc.

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Personally, I think compensation means something which one is awarded in recognition of their services, with compensation mainly being monetary in nature. In the workplace context, compensation could entail wages or salary, incentives and commission that an employee receives for the services that they render. Some elements that are important in compensation include elements such as the rate of pay, benefits, bonuses, and perks that employees receive from their employers for their services.

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- I believe that compensation is a method used to direct behaviour toward a specific goal. Behaviours that are rewarded are repeated, and thus a promise of a return on investment (time/effort) will ensure that the individual maintains their motivation.
- I think it's essential that the individual feels as though they are being compensated relative to the amount of time and effort that they contribute. It may also be important that an individual feels as though they can potentially obtain more if they work harder.

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in my opinion, Compensation refers to the equivalent amount of compensation that a laborer receives for his or her labor after working for a period of time. Such as money, goods and so on.

Amount of money, equal remuneration and amount of work, respect and equality

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I consider compensation as the various forms of financial income, tangible services, and benefits that an employee receives due to employment. The essence of compensation is an arm's length or exchange relationship, which is the reward that an employee receives for ceding the use of his or her labor or services to the organization (Timothy, 2020). Wages are the monetary rewards that employees receive for the labor required by the company and are paid directly to the employees for their labor. It is necessary to ensure social reproduction and is an essential embodiment of the main principle of distribution according to labor.

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- What your receive in exchange for your time.
-Compensation can vary based on seniority, number of hours worked, education level.
-Compensation can be used as a negotiation tactic to hire and retain employees.

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- Compensation is what is given to someone in exchange for their product and/or service
- Compensation elements are benefits, overtime pay, personal benefits etc.
- Compensation requires strategy

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- I think the definition of compensation refers to the economic or material things that employees provide to employees.
- It is like employer or third-party agencies such as insurance companies provide money to employees when employees are injured at work.
- Conpensation can also be non-representative, like emotional compensation, educational compensation.

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- I think the largest component should be wages and salary. Employees always get the "money feedback" from their employers.
- Health insurance can either become an element. It can help citizens to have better health and protection.
- Disability insurance. Compensation can provide different profits to different people. Disability insurance will help disabiltes to have a better life.

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- Compensation is a reward or incentive (usually cash) provided to those for completing a certain task
- An example would be an employee receives compensation for completing an extra task, either bonus pay or extra time off or etc..
- Compensation is a very good motivator for employees, therefore the more employees are compensated for their work, usually the better the work (this is not always the case)

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1. My personal definition of compensation is the various forms of benefits that employees receive after providing labor to their organization, and it is the labor remuneration paid by the company to employees.
2. From my perspective, some of the important elements of compensation should include: Salary, bonuses, stock options, various insurances, paid vacation, and employee training.

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- I believe that compensation refers to financial incentives including wages, insurance, pensions, etc. as well as benefits and insurance. Compensation is offered to an employee in exchange for the work they provide the company.
- Some elements important in compensation are: skill level, amount of work being done, position within the company, and whether or not the company gives out additional non-financial compensation like vacation time and benefits
- It is important that a worker feels they are being fairly compensated for the work that they are doing while also keeping in mind that a company has to staff and fairly compensate a large number of workers

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- Compensation to me is a source of financial security and is seen as a return in an exchange of work, education, experience etc.
- Compensation is used to motivate and retain employees as well as control labour costs because pay is market driven, employees want to feel values and often we as humans have a tendency to feel valued by the pay we receive
- Compensation is also reflected in benefits, vacation, health insurance and pension which are all additional 'perks' to a job that give us a sense of value

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- Compensation is a reward for time spent doing a specific job for an organization/individual.
- Higher Pay is an important aspect of compensation. Vacation pay and dental plans must also be considered

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- compensation is the most essential way for managers to motivate and retain employees
- Compensation can be earned in multiple forms, the most common is in the form of salary. However, benefits and bonuses can also be defined as sources of compensation.
- I think that education and experience can also be attributed to a from of compensation, hence the reason why people take on unpaid internships.

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-Compensation is an external expression of a product or service.-Compensation is the result of the integration of all aspects of an employee's performance.-Compensation can be motivational (or negative) to help employees develop a sense of identity and love for their work.

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-Compensation is an external expression of a product or service.-Compensation is the result of the integration of all aspects of an employee's performance.-Compensation can be motivational (or negative) to help employees develop a sense of identity and love for their work.

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-Compensation is an external expression of a product or service.-Compensation is the result of the integration of all aspects of an employee's performance.-Compensation can be motivational (or negative) to help employees develop a sense of identity and love for their work.

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-Compensation is an external expression of a product or service.-Compensation is the result of the integration of all aspects of an employee's performance.-Compensation can be motivational (or negative) to help employees develop a sense of identity and love for their work.

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-Compensation is an external expression of a product or service.
-Compensation is the result of the integration of all aspects of an employee's performance.
-Compensation can be motivational (or negative) to help employees develop a sense of identity and love for their work.

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In my personal opinion, compensation is something employee gets from a job, which could be wages, friends, experiences, and even lessons; but, in the most situation, I think compensation pays employees in the form of money.
Compensation is very important for employees because no one want to do works without rewards.

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-Compensation is the return with some reward for the effort that one offered
-Compensation can be monetary and non-monetary
-Compensation depends on different organizations
-Setting an appropriate compensation is an essential part of success of an organization
-Compensation motivates people to join a company
-Compensation shows the care a director to his/her employees.

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-something, typically money, awarded to someone as a recompense for loss, injury, or suffering.

-the money received by an employee from an employer as a salary or wages.

-the action or process of awarding someone money as a recompense for loss, injury, or suffering.

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-Compensation is what someone receives in return for providing you with a good or service
-Compensation can be used to create motivation for someone to complete a task for you
-Compensation can be effective when you want the individual to keep preforming these tasks for you as it will motivate them to keep doing it.

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- Compensation is an incentive that is offered in exchange of the work performed.
- Elements of compensation may include quality of work, variety of skillset required, accountability, budget
- In order for the compensation to be accepted and be satisfactory for everyone involved, the expectations of the employer and the budget of the company should all be considered and a final decision be made and hence this contributes as on of the elements of Compensation.

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- compensation is the act of getting rewarded or paid for what you do
- this can include cash, goods, benefits, etc.
- important elements of compensation include employment status or seniority, education level, experience, and work performance.
- compensation can help increase productivity in the workplace and is an important factor to incorporate in your business strategy

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- Monetary or non-monetary benefits given to employees from employers in exchange for work.
- Compensation is used for many reasons including: improves retention rates within the organization and motivates employees to work harder which increases productivity within the organization.
- Compensation can come in the form of various elements. In my opinion, many working humans are driven by money. Therefore, I believe that higher salary and wages are motivating forms of compensation.

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-Compensation is something given in exchange for any work or service provided to another party.

- The elements of compensation can include any reward or exchange that the receiving party finds of value. It could be tangible or intangible rewards based on the level of what the original party receives once agreed between both parties

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-When I think of compensation, the first thing that comes to mind is money awarded to someone in return for something. I think of employers paying their employees for their work.
-The important factors that may influence compensation are type of work, benefits, salary, incentives, etc.

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- The first things that comes to mind when thinking about compensation is incentives or a payment for a good or a service.
- This can be anything like money, benefits, bonuses, stock options etc.
- In any case compensation needs to be effective for the individual as it could be money or something that keeps the individual motivated.

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- When I reflect on compensation, I first think of the monetary ways in which I have been awarded by employers for fulfilling job requirements.
- Upon further reflection, I consider things like transportation allowances, paid vacation, medical/dental coverage, and tuition reimbursement to be important elements of compensation.
- While relational returns such as learning opportunities, recognition and status, challenging work, and employment security fall under total rewards, I regard them as important psychological benefits in workplaces.

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Compensation is the various forms of remuneration that employees receive for the services they provide to the organization in which they work. Compensation in the narrow sense refers to monetary and monetarily convertible remuneration. Compensation in a broad sense includes, in addition to compensation in a narrow sense, various non-monetary forms of satisfaction received. In a broad sense, compensation includes external rewards such as wages, bonuses, and vacations, as well as internal rewards such as participation in decision-making and greater responsibility. External rewards are the various forms of rewards that employees receive from outside themselves as a result of their employment relationship, also known as external compensation. External compensation includes direct compensation and indirect compensation. Direct compensation is the main component of employee compensation, which includes basic compensation of employees, i.e., basic salary, such as weekly, monthly and annual salary, etc.; it also includes incentive compensation of employees, such as performance pay, bonuses and profit sharing, etc. Indirect compensation, i.e. benefits, includes various insurance, non-working day wages, additional allowances and other services provided by the company to employees, such as single apartments, free working meals, etc.

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- Compensation is the act of rewarding an individual, which can also be seen as an incentive
- Compensation Key Factors:
1) Industry
2) Location
3)Skillsets
4)Supply&Demand
5)Education Level

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Compensation is representative of pay and additional factors that are given as a reward to employees for their work. In my experience working full time, this would include my base salary but also additional factors such as vacation pay and my insurance and dental plan. These factors are both financial and not financial as the insurance and dental plan my company offers is not a direct monetary reward.

I think an important factor for compensation is to ensure that the rewards match the difficulty of the task at hand. Ensure that your adequately compensating is a key component of compensation. If a job is physically strenuous, then ensuring that a sufficient medical plan is included in one’s compensation is important.

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- Compensation generally reflects the amount of money someone, or an organization provides you with for your work.
- Compensation is not always monetary as people sometimes accept payment outside of money. The best example would be a barter system in which people trade goods and services.
- More inside the scope of business, compensation can also be related to sick pay, vacation pay, overtime, bonuses, raises, or anything that benefits a worker.
- It is essential that the type of compensation for one's work is agreed upon ahead of time, and that both parties understand the agreement.

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- way to provide initiative to individuals within an organization
- a motivating factor for individuals to want to strive to work their way up in an organization
- a sense of security provided to individuals in their personal and work life