Asked by Marisol Crazy Toons on Sep 23, 2024
Verified
Total compensation refers to the monetary and nonmonetary rewards offered to employees.
Total Compensation
The complete reward package provided to employees, including base salary, bonuses, benefits, equity incentives, and other financial and non-financial perks.
Monetary Rewards
Compensation or incentives given in the form of money to employees as recognition for their work or achievement.
Nonmonetary Rewards
Incentives provided to employees that do not involve direct payment, such as recognition, promotions, or professional development opportunities.
- Attain familiarity with the basics of total compensation and its components.
Verified Answer
VD
Vipan Dhaliwalabout 16 hours ago
Final Answer :
True
Explanation :
Total compensation includes both monetary rewards such as salary and bonuses, as well as nonmonetary rewards such as health insurance, retirement benefits, and work-life balance programs.
Learning Objectives
- Attain familiarity with the basics of total compensation and its components.