BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Remuneration is the total compensation received by an employee. It includes not only base salary but any bonuses, commission payments, overtime pay, or other financial benefits that an employee receives from an employer.

Detailed explanation-2: -Compensation and benefits refers to the compensation/salary and other monetary and non-monetary benefits passed on by a firm to its employees. Compensation and benefits is an important aspect of HRM as it helps to keep the workforce motivated.

Detailed explanation-3: -Your salary is called compensation because you are being compensated for being somewhere you’d rather not be, doing something you’d rather not do.

Detailed explanation-4: -Compensation includes wages and salaries, while benefits include things like health insurance, vacation time, and pension plans. Compensation and benefits are important because they can help attract and retain talented employees.

Detailed explanation-5: -Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction.