All rewards that can be classified as monetary payments and in-kind payments constitute the compensation component of the compensation system.

Question

Quizplus · Accepted Answer

Monetary payments, such as salaries and bonuses, and in-kind payments, such as benefits and perks, are all part of the compensation system and are considered compensation for employment. Therefore, all such rewards can be classified as a compensation component.

All Rewards That Can Be Classified as Monetary Payments and In-Kind