________ compensation refers to the financial rewards employees receive in exchange for their work.

Question

Quizplus · Accepted Answer

Direct compensation includes the salary, wages, and bonuses paid to employees in exchange for their work. Base pay is one component of direct compensation, which refers to the basic salary or hourly wage earned by an employee. Indirect compensation, on the other hand, refers to non-monetary benefits or perks, such as health insurance, retirement benefits, or paid time off. Total compensation includes both direct and indirect compensation. Traditional compensation is not a commonly used term in the field of compensation and benefits.

________ Compensation Refers to the Financial Rewards Employees Receive in Exchange