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compensation

noun

/ˌkɒm pənˈseɪ ʃən/

IPA:

Dictionary definition of compensation

Something, typically money, goods, or services, as a form of recompense, payment, or restitution for a loss, injury, or work performed.
"The accident victim filed a lawsuit seeking compensation for their injuries."

Detailed meaning of compensation

It represents the remuneration or reward given to an individual or entity to offset a perceived imbalance or to acknowledge the value of their contributions or suffering. Compensation can take various forms, such as salaries, wages, bonuses, benefits, or other forms of financial or non-financial rewards. It is commonly associated with employment, where individuals receive compensation for their labor and services. Additionally, compensation can also be provided in legal contexts, such as settlements or damages awarded to victims of wrongdoing or accidents. It aims to restore fairness, address grievances, or provide a means of redress. Compensation is an essential aspect of ensuring fairness, equity, and the recognition of value within various domains of life.

Example sentences containing compensation

1. The employee received a raise as compensation for their outstanding performance.
2. The company offered competitive compensation packages to attract top talent.
3. She received financial compensation for the damages caused by the faulty product.
4. The athlete signed a lucrative endorsement deal as part of their compensation.
5. The compensation provided for the long hours worked during the busy season.
6. The company offered a generous compensation plan, including health benefits and retirement options.

History and etymology of compensation

The noun 'compensation' finds its origins in Latin, specifically from the word 'compensatio,' which is derived from 'com' meaning 'together with' and 'pensare' meaning 'to weigh' or 'to pay.' This etymology conveys the notion of balancing or making things right by weighing or paying for something. In essence, 'compensation' refers to something given or received together with the aim of rectifying a loss, injury, or recognizing the value of work performed. Over time, this Latin term made its way into Middle English as 'compensacioun' and eventually evolved into the modern English word 'compensation,' embodying the concept of providing recompense, payment, or restitution for various purposes, including addressing losses, injuries, or compensating for services rendered.

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Further usage examples of compensation

1. The airline provided compensation to passengers for the delayed flight.
2. The artist received compensation for the use of their artwork in a commercial campaign.
3. The insurance policy provided compensation for the stolen property.
4. The workers demanded fair compensation for their labor and overtime.
5. The executive received stock options as part of their compensation package.
6. His compensation package includes a bonus.
7. Fair compensation is crucial for job satisfaction.
8. The insurance policy provides compensation for accidents.
9. The compensation for overtime work was generous.
10. Legal action may lead to financial compensation.
11. The compensation for the project exceeded expectations.
12. Compensation for the injured worker was substantial.
13. The company offers competitive compensation.
14. Compensation for the injury covered medical bills.
15. Negotiations are ongoing regarding compensation.
16. Compensation for the lost item was offered.
17. She received fair compensation for her artwork.
18. Compensation for travel expenses was reimbursed.
19. Compensation for the delay was requested.
20. Compensation for the damaged property was sought.
21. Employee benefits go beyond financial compensation.
22. Adequate compensation is vital for employee retention.
23. Compensation for the service was gladly accepted.
24. Compensation for pain and suffering was awarded.
25. Compensation for the work was well-deserved.