Indirect Compensation
Definition:
An indirect compensation involves extra benefits provided to an employee for work in a form other than regular remuneration.
This may be health insurance, gym memberships, training and development opportunities, flexible working time and childcare funded by the organization. Organizations see indirect compensation as a strategy for employee retention; this is because it will make employees feel that their hard work is appreciated and noticed. Offering an indirect compensation also encourages productivity levels within the organization.
Part of speech:
noun
Use in a sentence:
Offer an indirect compensation.