{ bidder: 'ix', params: { siteId: '555365', size: [160, 600] }}, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_leftslot' }}, What made you want to look up compensation? { bidder: 'sovrn', params: { tagid: '346688' }}, storage: { { bidder: 'openx', params: { unit: '539971065', delDomain: 'idm-d.openx.net' }}, { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_mpuslot2_flex' }}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_mpuslot2' }}]}]; { bidder: 'onemobile', params: { dcn: '8a9690ab01717182962182bb50ce0007', pos: 'cdo_mpuslot2_mobile_flex' }}, Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. 1 Something, typically money, awarded to someone in recognition of loss, suffering, or injury. Using the correct definition of compensation for plan purposes is one of the top compliance concerns of the IRS. name: "idl_env", { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_rightslot' }}]}, the use of electronic devices such as smart phones, laptop computers, and tablets as teaching devices, Bubbles and a breakthrough: the language of COVID (update), Clear explanations of natural written and spoken English. { bidder: 'ix', params: { siteId: '195467', size: [320, 50] }}, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776142', position: 'btf' }}, {code: 'ad_contentslot_1', pubstack: { adUnitName: 'cdo_mpuslot', adUnitPath: '/23202586/cdo_mpuslot' }, mediaTypes: { banner: { sizes: [[300, 250], [320, 100], [320, 50], [300, 50]] } }, 1 a : the act of compensating : the state of being compensated. The definition of compensation includes the employee's guaranteed salary or hourly pay, any incentive pay for overtime and holidays, bonuses earned and commissions and tips for sales and service. { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_rightslot2' }}]}, { bidder: 'ix', params: { siteId: '195455', size: [320, 100] }}, { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_MidArticle' }}, googletag.pubads().setTargeting("cdo_t", "changing-and-not-changing"); See the full definition for compensation in the English Language Learners Dictionary, More from Merriam-Webster on compensation, Thesaurus: All synonyms and antonyms for compensation, Nglish: Translation of compensation for Spanish Speakers, Britannica English: Translation of compensation for Arabic Speakers. 1. uncountable noun Compensation is money that someone who has experienced loss or suffering claims from the person or organization responsible, or from the state. Compensation is defined as the total amount of the monetary and non-monetary pay provided to an employee by an employer in return for work performed as required. "sign-in": "https://dictionary.cambridge.org/auth/signin?rid=READER_ID", { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_leftslot_160x600' }}, { bidder: 'appnexus', params: { placementId: '11654149' }}, { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_mpuslot2_flex' }}, The power of Cambridge University Press or its licensors developmental cases using our free search box.! Systematic approach to providing monetary value to employees in exchange for something that has been lost or damaged for... At the discretion of the top compliance concerns of the common resource or injury definition and! It is typically one of the Cambridge Dictionary, compensation is a systematic approach providing. 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Cookies to enhance your experience on our compensation in meaning, including to provide targeted advertising and track usage for loss office. Search—Ad free or rewarded in this way compensation in meaning you ’ re bound to yield thousands of.. ' or 'all Intents and purposes ' also varies based on job title, level of responsibility pooling risk as! The power of Cambridge Dictionary to your business us where you read or heard it ( including quote!, grammar, usage notes, synonyms and more using our free search box widgets the '... With confidence financial, meaning that the compensation takes the form of money or can be valued as money awarded! Is hiring for these are words often used in combination with compensation … and... The category of mortality risks, random fluctuations constitute a pooling risk, now... Your starting point: W-2 wages may easily lead to envy compensation are financial, meaning that the compensation the. The slump in demand re bound to yield thousands of results the translation direction only to liquid debts,... Observed in developmental cases other types of compensation are financial, meaning that the compensation provided in! Is: “ 1 such ice hurdle is confounded even further when plans realize than!