ADDITIONAL COMPENSATIONS Meaning and
Definition
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Additional compensations refer to supplementary benefits or rewards provided to individuals in addition to their regular salary or wages. These extra compensations are typically offered by employers as a means to attract, motivate, and retain employees. They serve as an incentive to encourage employees to perform at their best and contribute to the overall success of the organization.
Examples of additional compensations include bonuses, commissions, overtime pay, profit-sharing, stock options, and performance-based incentives. These forms of compensation are usually offered on top of the base salary and are often tied to individual or group achievements and goals. They act as a form of recognition for employees who exceed expectations or make significant contributions to the company's objectives.
In addition to monetary perks, other types of additional compensations may include non-cash benefits such as healthcare plans, retirement contributions, paid time off, flexible work arrangements, employee discounts, training and educational opportunities, and wellness programs. These benefits aim to enhance the overall well-being and satisfaction of employees, as well as to promote a positive work-life balance.
The provision of additional compensations can improve employee morale, job satisfaction, and loyalty, as it demonstrates the employer's appreciation for their hard work and dedication. Moreover, it can contribute to attracting top talent in highly competitive job markets, as candidates may be enticed by the prospect of receiving extra perks and rewards alongside their salary.
Common Misspellings for ADDITIONAL COMPENSATIONS
- aditional compensation
- additonal compensation
- zdditional compensations
- sdditional compensations
- wdditional compensations
- qdditional compensations
- asditional compensations
- axditional compensations
- acditional compensations
- afditional compensations
- arditional compensations
- aeditional compensations
- adsitional compensations
- adxitional compensations
- adcitional compensations
- adfitional compensations
- adritional compensations
- adeitional compensations
- addutional compensations
- addjtional compensations
Etymology of ADDITIONAL COMPENSATIONS
The etymology of the word "additional compensations" can be broken down as follows:
1. Additional: The word "additional" is derived from the Latin word "additionālis", which is formed from "additiō" meaning "an adding" or "to add" and the suffix "-ālis" indicating "pertaining to" or "relating to". It entered the English language around the 17th century.
2. Compensations: The word "compensations" comes from the Latin word "compensātiō" which is derived from the verb "compensāre" meaning "to balance" or "to measure against". It refers to the act or process of providing something to make up for a loss, deficiency, or hardship. "Compensations" entered the English language around the 14th century.
