HR Terminology

Remuneration

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  7. Remuneration: Definition

FAQ

Remuneration packages often comprise various elements such as base salary or wages, performance bonuses, commissions, allowances (housing, transportation, etc.), retirement benefits, healthcare benefits, stock options, and other perks like paid time off or wellness programs.

Remuneration and compensation are often used interchangeably, but remuneration typically refers to the broader spectrum of rewards an employee receives, including both monetary and non-monetary benefits. Compensation often specifically refers to monetary payments for work done, such as wages or salaries.

Several factors influence an employee's remuneration, including their role within the organization, level of experience, industry standards, geographical location, company financial performance, individual performance, and negotiation skills.

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