Total rewards Glossary
/
Compensation

Compensation

Compensation refers to the total amount of monetary and non-monetary benefits that an employee receives in exchange for their work. This can include salary, bonuses, benefits, and perks.

Conduct regular market research to ensure that your compensation package is competitive
Offer a variety of compensation options, including bonuses, benefits, and perks
Be transparent with employees about how compensation decisions are made
Provide opportunities for employees to earn additional compensation through performance-based rewards and recognition programs.

Ready to elevate your recognition game?

Total rewards can be intimidating—but Awardco makes it easy to build culture, drive behavior, and recognize the good around you. Learn more about how we help enhance your total rewards today.

What is the importance of compensation?

Compensation helps companies attract and retain top talent, motivates employees to perform at their best, and improves overall employee satisfaction. 

How does compensation drive employee engagement and motivation?

Compensation is a powerful tool for motivating and engaging employees. By providing fair and competitive compensation, companies can help employees feel valued and appreciated, which can lead to increased job satisfaction and motivation. 

Best Practices

Best practices

‍

Ready to see Awardco in action?

See how Awardco will build culture, incentivize performance, and power engagement in your organization.

 
Build culture, incentivize performance, and power engagement. All in one place.
English (US)
Platform
OverviewRecognitionCelebrationsIncentivesBenefits & PerksRewardsIntegrationsReportingAwardco Intelligence
Solutions
OverviewUse CasesRoleBusiness SizeIndustry
Why Awardco
Why AwardcoAmazon BusinessCenter of ExcellencePlatform SupportCustomer StoriesAwardco AdvocatesSecurity & CompliancePlansRequest for ProposalGet a Demo
Resources
Resource LibraryBlogResearch & ReportsNewsroomTotal Rewards GlossaryKnowledge BaseACO CommunityROI CalculatorBudget CalculatorCompetitor GuideContact Support
Events
Upcoming EventsOn-Demand WebinarsSHRMRCGNZ Summit 2025
Company
About UsCareersRecognize the GoodCorporate ResponsibilitySustainabilityDEIPrivacy PolicyContact Us
© 2025 Awardco
Your Privacy Choices
*A-Pay® card Visa Commercial Credit cards are issued by Celtic Bank.

Privacy at Awardco

We value the trust you’ve placed in us when you provide us with your personal information. We use that information as detailed in our Privacy Notice

You can make certain privacy requests, but those options vary by state. We will fulfill these requests as determined by your state of residence.  

Creating a Privacy Request

What request would you like to make?
We need some information about you to authenticate your identity and process your request.

Thanks for your message!

We will reach back to you as soon as possible.

Oops! Something went wrong while submitting the form.
No actions available at this time

We are committed to consumer privacy and provide choices where we can about opting-out of marketing messages or using web browsers with privacy functionality built into the service. Download here.

At this time, additional requests are not available in your state of residence.  Should state or federal law change, we will evaluate how to offer more privacy choices to you in the future.  

We use cookies to improve your browsing experience, personalize content, and measure traffic.
‍By accepting all, you consent to the use of cookies for marketing, personalization, and analytics. You can manage your preferences and withdraw consent at any time. Learn more in our Privacy and Cookie Policy.

PreferencesRejectAccept
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Preferences