Compensation and benefits are related but distinct from payroll. Payroll refers to the process of managing employee wages, including salary calculations, deductions, and disbursements. Compensation encompasses the total rewards an employee receives, including base salary, bonuses, and incentives. Benefits, on the other hand, include non-wage perks such as health insurance, retirement plans, and paid time off. To effectively manage these components, many organizations hire a Compensation and Benefits Freelancer. This professional ensures that compensation packages are competitive, benefits are well-administered, and payroll operations align with overall financial strategies. For expert assistance, consider hiring a Compensation and Benefits Freelancer through Paperub.
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