Definition: .Compensation is the to

Definition:
.Compensation is the total amount of the monetary and non-monetary pay provided to an employee by an employer in return for work performed as required.
.Compensation is based on:
•market research about the worth of similar jobs in the marketplace,
•employee contributions and accomplishments,
•the availability of employees with like skills in the marketplace,
•the desire of the employer to attract and retain a particular employee for the value they are perceived to add to the employment relationship, and