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A compensation plan is how a business takes care of its most important assets—its employees. It’s a combination of a company’s wage structure and benefits plan.
A compensation plan is how a business takes care of its most important assets—its employees. It’s a combination of a company’s wage structure and additional benefits, like health insurance and PTO. A good compensation plan helps retain employees and attract new talent.
How to create a compensation plan: Direct and Indirect
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