Staff remuneration — often mispronounced as renumeration — refers to all of the different types of compensation, benefits and perks an employee receives from his employer in exchange for his labor. Although a salary or wage is the first and primary type of staff remuneration that comes to mind, it is far from the only kind. Other types of compensation include commissions, performance bonuses, stock options, fringe benefits and even tools, such as a laptop computer, a cell phone or a company car. Staff remuneration in conjunction with intangibles such as "atmosphere" and "company culture" help determine whether a given employer is considered a desirable place to seek employment.
Most types of staff remuneration are financial in nature. In addition to an employee's wage or salary, there are other types of financial compensation an employer can provide. Performance-based financial staff remuneration includes quarterly or annual performance bonuses or sales commissions that serve as incentives for the employee to demonstrate higher productivity. Holiday bonuses are a morale booster, an especially helpful bit of income that helps to meet expenses at the year's end. Overtime pay for hourly workers is a legally required type of financial compensation in the US.
Other types of financial staff remuneration can include allowable days off with pay. Depending upon the country of employment, the state of US employment, whether the employees are unionized, or the public versus private nature of the business, several types of days off with pay are available. Usually depending upon an employee's length of tenure, a given amount of vacation days and sick days are allowed each year. Most companies pay for national holidays if the business traditionally closes at this time, or alternately, pay employees "double time" in exchange for their work on these days.
A company's contribution into an employee's retirement plan or its partial payment of applicable health insurance premiums can also be a type of often-forgotten staff remuneration. Depending upon the type of company, discounted or matched stock purchase agreements may also be an option for employees under a voluntary participation plan. In addition, employee discounts on goods or services purchased from the employer can provide significant monetary savings, depending upon the needs of the employee and the nature of the employer's business.
Fringe benefits are another type of staff remuneration that can greatly improve an employee's productivity and even his quality of life. Companies often provide cell phones and cell service to employees who are often out of the office. Others receive laptop computers or company cars. Larger companies may offer on-site daycare services for parents with young children or a fitness center to encourage improved health and decreased stress.
