Compensation

All aspects of compensation fall within the purview of human resources. Compensation is a broader term than salary or wages since it includes signing bonuses, relocation expenses, vehicle allowances, home office equipment, insurance policies, security protection, severance programs, stock incentives and retirement programs. Negotiations for basic … Keep Reading → salary and paid vacation time are part of the hiring process. Companies need to offer competitive salary and compensation packages to attract and retain good employees and enhanced compensation packages are one of the strategies used. Executive compensation might also include golden parachute clauses and special benefits for spouse and family members including housing allowances, low-cost mortgages, private school enrollment or job placement. Find out more about compensation pages in this Hub.