Comp and Benefits (C&B)

Definition

The department responsible for managing salaries, bonuses, health insurance, and all the perks that make you feel almost adequately paid for your work.

Example Usage

The Comp and Benefits team is reviewing our vacation policy and considering a reduction from unlimited to 'reasonable' time off.

Origin

Abbreviation of 'compensation and benefits,' formalized in HR terminology in the 1960s.

Fun Fact

Compensation strategies are so complex that most employees don't understand their own total comp package, which is partly intentional.

Source: HR Industry terminology

Related Terms

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attrition

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competency model

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benefit

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enrolment

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