HR Glossary
Compensation and Benefits
The complete package of pay and non-pay rewards an employer offers, including salary, bonuses, and perks.
Definition
Compensation and benefits (C&B) covers everything an employee receives in exchange for their work — direct pay like salary and bonuses, and indirect benefits like insurance, leave, and retirement contributions.
Why It Matters
A well-structured C&B strategy is one of the biggest levers for both attracting and retaining talent.