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Stacy Kaplan defines total rewards as everything that an employee values in their employment relationship: compensation, benefits
What is employment?
Employment is a two-party contract that governs the provision of paid labor services. Typically, one party, the employer, which could be a corporation or a non-profit, is bound by a contract.
Employment is a type of economic activity in which one person works for another. Employee refers to a person who works for another person or company. Wages or salaries are paid to employees.
Employment is a specific type of work. Own-use production work, volunteer work, and unpaid trainee work are examples of other types of work. Work and employment are synonyms in everyday language. We use them interchangeably to refer to our means of subsistence.
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