Compensation and Benefits (Comp & Ben)

Definition

The department that simultaneously manages payroll, health insurance, 401k plans, and the mounting resentment from employees who discover their insurance covers virtually nothing.

Example Usage

Comp & Ben approved a $500 deductible health plan, which means everyone's essentially uninsured.

Origin

Specialized HR function that emerged when benefits became more complex in the 1960s

Fun Fact

Most employees don't understand their benefits package until they actually try to use it

Source: HR Administration Standards

Related Terms

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horizontal organization

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non-compete agreement

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