Compensation is the gross cost to the employer of all salaries and wages, the variable
elements, performance related pay (bonuses, commissions, profit linked pay) attendance related
pay (overtime, shift allowances, standby) and national insurance / social security.

Benefits includes all other reward components e.g. pensions, healthcare, cars, stock options,
professional fees, childcare, lifestyle benefits, subsidised Products / services etc.

Costs includes the costs of goods and services produced or purchased for resale, direct labour
and materials, transfer price of goods purchased from within the organisation, operating
expenses and overheads including any corporate recharges, financial expenses
(depreciation,amortization and interest) and changes in provisions for bad and doubtful debts.
Generally calculated as the difference between revenue and profit before tax.

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