Compensation has several different meanings as indicated below.

• In law, compensation may refer to damages awarded for a legal wrong; being compensated by way of damages is distinct from other forms of legal remedy such as restitution
• Compensation, an essay by Ralph Waldo Emerson
• In chess, compensation refers to an advantage a player is given to offset some other (generally material) disadvantage.
• In human resources, compensation may be the remuneration received by employees, or may refer to the pay structures within organizations.
  • Some of the main issues in the area of compensations are:
    • How much should companies pay to attract, retain, and motivate employees?
    • Should they pay salaries or variable rewards (a.k.a. piece-rate)?
    • Should they provide benefits, and if so, to what degree?
    • What's an appropriate discrepancy between the pay for high and low performers?
    • Would it make sense to provide stock options or stock bonuses?
    • Reinforcement mechanism (additional options grant, vesting schedule. etc) to retain top performers in the organization
  • Compensation is also tightly linked to performance appraisal. If you have poor ways of measuring performance, that has consequences for how compensation should be structured.

Damages, in law has two different meanings. ... In the common law, a tort is a civil wrong, other than a breach of contract for which the law provides a remedy. ... Restitution is the name given to a form of legal relief in which the plaintiff recovers something from the defendant that belongs, or should belong, to the plaintiff. ... This article needs cleanup. ... Ralph Waldo Emerson (May 25, 1803 – April 27, 1882) was a famous American essayist and one of Americas most influential thinkers and writers. ... A chess table is a table with a chessboard painted or engraved on it. ... In chess, compensation refers to various (typically positional) advantages a player has in exchange for a (typically material) disadvantage. ... Human resources has at least two meanings depending on context. ... Remuneration is pay or salary, typically monetary compensation for services rendered, as in a employment. ... This article does not cite its references or sources. ... Employment is a contract between two parties, one being the employer and the other being the employee. ... A salary is a form of periodic payment from an employer to an employee, which is specified in an employment contract. ... Social welfare can be taken to mean the welfare or well-being of a society. ... See stock (disambiguation) for other meanings of the term stock In financial terminology, stock is the capital raised by a corporation, through the issuance and sale of shares. ... See stock (disambiguation) for other meanings of the term stock In financial terminology, stock is the capital raised by a corporation, through the issuance and sale of shares. ... This page is a candidate to be moved to Wiktionary. ... One phase of the annual performance management cycle is performance appraisal, the process of reviewing employee performance, setting new performance objectives, documenting the review, and delivering the review verbally in a face-to-face meeting. ...

See also

• Workers' compensation
• Executive compensation
• Frederick Herzberg
• Compensation (chess)
• Compensation of employees

Workers compensation systems (workers comp or compo) exist to protect employees who have incurred work-related injuries. ... Executive compensation is how top executives of business corporations are paid. ... Frederick Herzberg(1923 - 2000) proposed the Two Factor theory of human motivation. ... In chess, compensation refers to various (typically positional) advantages a player has in exchange for a (typically material) disadvantage. ... Compensation of employees (CE) is a statistical term used in national accounts, Balance of Payments statistics and sometimes in corporate accounts as well. ...

External links

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