👉 Compensation is a process or procedure in which an individual receives some form of financial benefit or reward for performing a task, service, or contribution. It can be defined as a monetary payment made to someone who has done something beneficial or valuable. In other words, it refers to the act of providing compensation or recognition to someone for their efforts or contributions. Compensatory actions are often given in response to positive outcomes, such as receiving praise, being recognized for work well done, or achieving certain milestones