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Non-monetary benefits, also known as indirect compensation, are a method by which businesses can reward employees for their services and boost engagement without adjusting base salary. Many businesses incorporate these benefits into total compensation packages. Total compensation includes both indirect and financial compensation
While there are many types of indirect compensation, the term essentially encompasses any perks or benefits not paid directly to employees. In recent years, more and more employers have discovered the importance of indirect compensation in attracting and retaining quality employees. Common forms of indirect compensation offered to employees include:
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