GK
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following terms refers to all forms of pay or rewards going to employees and arising from their employment?
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salary
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employee benefits
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wage reimbursement
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employee compensation
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Explanation:
Detailed explanation-1: -Pay and reward covers all benefits an employer offers its employees, including financial benefits such as wages, pensions, paid leave and sick pay; and non-pay benefits such as appraisals, flexible working, opportunities for development and ongoing training.
Detailed explanation-2: -Compensation of employees (CE) is a statistical term used in national accounts, balance of payments statistics and sometimes in corporate accounts as well. It refers basically to the total gross (pre-tax) wages paid by employers to employees for work done in an accounting period, such as a quarter or a year.
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