The letter should be based on cooperation and constructive problem solving. The consumer should know what compensation he or she wants and ask for it. Rather than saying, “Give me compensation,” the consumer should say “this is what I believe is fair compensation.”

Examples of compensation in a Sentence The court awarded the victims millions of dollars in compensation. She offered to pay for lunch as compensation for keeping me waiting. Moving to the coast had some drawbacks, but there were also compensations.

noun. the act or state of compensating, as by rewarding someone for service or by making up for someone’s loss, damage, or injury by giving the injured party an appropriate benefit. the state of being compensated or rewarded in this way.

Synonyms & Antonyms of compensation

• damages,
• indemnification,
• indemnity,
• quittance,
• recompense,
• recoupment,
• redress,
• remuneration,

If you’re asking about salary, use the word “compensation” rather than “money and ask for a range rather than a specific number. Likewise, if you want to find out about work-life balance, it may be more useful to approach the topic in terms of “office culture.”

Do:

1. Make clear how much you value the employee — don’t let the bonus or raise speak for itself.
2. Explain how the decision was made so the employee understands you’re being fair.
3. Rehearse what you’re going to say and how you’re going to respond to any complaints.

Employee compensation refers to the benefits (cash, vacation, etc.) that an employee receives in exchange for the service they provide to their employer. The following are a few examples of the compensation paid to employees: Cash compensation consisting of wages or salaries. Retirement plans (employer contributions)

What Is Fair Compensation? Fair compensation does not mean everyone at the company is paid the same amount. Rather, fair compensation is paying employees an appropriate amount according to their performance, experience, and job requirements.

Compensation can also be money, a payment meant to give someone a fair exchange for their effort and output. In fact, the word comes from the Latin word compensat-, meaning “weighed against.” If you receive fair compensation for your work, the money is equal to your time and effort.

The fair compensation system will help in the following: 1. If an ideal compensation system is designed, it will have positive impact on the efficiency and results produced by workmen. 2. Such system will encourage the normal worker to perform better and achieve the standards fixed.

Being fair means that the compensation amount was impartially and honestly determined in an objective manner based on merit without any favor or prejudice. …

Creating an equitable compensation program

1. Step 1: Design an inclusive total rewards strategy.
2. Step 2: Build salary bands.
3. Step 3: Eliminate salary negotiations.
4. Step 4: Create a rubric and clear timeline for managing performance.
5. Step 5: Insert a system of checks and balances.

Something that is equitable is fair and reasonable in a way that gives equal treatment to everyone.

Equitable sentence example. This equitable arrangement was accepted by the estates forthwith. It removed all disfranchisement, and embraced equitable amnesty and exemption features. The competition was very equitable since both teams were the same age and skill level.

Merriam-Webster defines equitable as “dealing fairly and equally with all concerned,” and equal as “of the same measure, quantity, amount, or number as another.” However, much like systemic and systematic, the two words (and their derivatives) can’t be used interchangeably.

As adjectives the difference between fair and unfair is that fair is beautiful, of a pleasing appearance, with a pure and fresh quality while unfair is not fair, unjust.

Equality is the quality of being the same in status, quantity, and value while fairness is the quality of being unbiased and impartial. Equality is giving individuals who have the same task the same compensation while fairness is giving individuals the same choices or chances no matter their status in life.

Equality – Key Terms & Types

Treat people the way you want to be treated.

• Take Turns.
• Tell the truth.
• Play by the rules.
• Think about how your actions will affect others.
• Listen to people with an open mind.
• Don’t blame others for your mistakes.
• Don’t take advantage of other people.
• Don’t play favorites.

Fairness and Justice: This means to be fair and just in dealing with everyone; treat everyone equally. Make decisions without playing favorites and don’t take advantage of others. Don’t blame others carelessly or unjustly. Take only your fair share, take turns, and share with others.