ALERT Upcoming Webinar | Evaluating HazMat Response Options | Tues., Sep. 28 at 11AM ET
Advertisement

Compensation Costs

Last updated: March 25, 2019

What Does Compensation Costs Mean?

The compensation costs are the expenditures an employer has to pay in benefits to an employee while the employee is no longer able to work (whether temporarily or permanently) due to an injury sustained while on the job.

Safeopedia Explains Compensation Costs

An employee injured on the job has to be compensated for lost earnings due to missed work days. This is usually paid in employee benefits, medical expenses, or paid leave, depending on the nature of the agreement between the employer and the employee.

Advertisement

Synonyms

employee compensation, compensiation expense, compensation funds, workers compensation, workers cost relief, compensation insurance cost

Share this Term

  • Facebook
  • LinkedIn
  • Twitter
Advertisement

Related Reading

Tags

EHS ProgramsStandards

Trending Articles

Go back to top