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Employee compensation refers to the overall package of salary, benefits, and perks that an employee receives in exchange for their work and services within an organization. It encompasses not only the direct financial remuneration but also non-monetary components such as health insurance, retirement plans, bonuses, and other incentives.

The goal of a well-structured compensation package is to attract and retain top talent, motivate employees, and ensure fair and equitable treatment. Effective employee compensation strategies align with organizational goals, industry standards, and the individual contributions of employees, fostering a positive and mutually beneficial employer-employee relationship.