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Compensation package - Coggle Diagram
Compensation package
Common things
childcare
employee discounts
life insurance
flexible hours
holiday bonuses
medical insurance
paid leave
training and education
salary
tuition reimbursement
Purposes
increasing employee loyalty
to retain human capital
rewarding high-performance workers
company's reputation
improving motivation
Types
direct
wages, salaries, tips etc
indirect
temporary leaves of absence, benefits etc
non-monetary
Definition
is a summary of all the ways that a company directly or indirectly pays employees for their labor