Definition of "Compensation"

Glo Reber real estate agent
Glo Reber, Real Estate Agent Premier Sothebys International Realty

Money and nonmonetary consideration given to employees for work performed. The reward will typically be increased the better the job is done. Salary and fringe benefits are a major cost of a business so the amount paid must be within the financial abilities of the entity. Compensation depends on union contract and must not violate any laws.

 

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