Compensation

The process of wage or salary administration (or, “compensatition” as it is sometimes called) involved the weighting or balancing of account. A compensation is anything that constitutes or is regarded as an equivalent or recompanse. In the employment world, financial rewards are the compensation resources provided to employees for the return of their services. The term “renumeration, “wage”, and “salary also are used to described this financial arrangement netween employers and employees. A renumeration is a reward, payment, or reimbursment on occasion also may be nonfinancial in nature. Renumerations are usually in the form of comprehensive pay concepts tha are the ideas of salary and wage that normally include a financial but not a nonfinancial dimension”.