Compensation Overview
Employee compensation is generally one of the largest costs/expenses for any organization. Approximately 92% of the working population in the United States is made of employees earning compensation from their employer. There are many different types of compensation paid to employees. Below are a few examples of the compensation paid to employees:
Cash compensation consisting of wages or salaries
Retirement plans (employer contributions)
Employer-paid health insurance
Life insurance
Paid leave for vacation and sick days
Disability insurance