The compensation plan
Example: Compensation plan outlines structure of salary
Definition
"The compensation plan" refers to a structured system designed by an organization to outline how employees are rewarded for their work, including salary, bonuses, benefits, and incentives, ensuring fair and consistent payment aligned with roles and performance.
Etymology
The phrase "the compensation plan" combines 'compensation,' derived from the Latin 'compensatio,' meaning a balancing or offsetting, and 'plan,' from the French 'plan,' meaning a drawing or scheme. Together, they describe a formal scheme to balance work and reward.
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"The compensation plan" appears in the Vocaplus list "English - HR - (A1-C2) - set 1", containing 182 commonly used words.
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