Compensation

Definition

Compensation refers to something, typically money, awarded to someone in recognition of loss, suffering, or injury. It also refers to payment or benefits given to employees for their work or services. In a psychological context, it can describe the process of counterbalancing a perceived deficiency or weakness.

Parts of Speech

• Noun

Pronunciation

American English

• IPA Pronunciation: /ˌkɑːmpənˈseɪʃən/
• Respelling: kahm-puhn-SAY-shuhn

British English

• IPA Pronunciation: /ˌkɒmpənˈseɪʃən/
• Respelling: kom-puhn-SAY-shuhn

Etymology

The word "compensation" originates from the Latin word "compensatio," meaning "weighing one thing against another." The term is derived from "compensare," meaning "to counterbalance or make good." It entered English in the late Middle Ages and has since evolved to cover financial, legal, and psychological meanings.

Derivatives

• Compensate (verb)
• Compensatory (adjective)
• Compensated (verb, past tense)
• Compensating (verb)
• Overcompensation (noun)

Synonyms

• Reimbursement
• Reparation
• Remuneration

Antonyms

• Forfeit
• Penalty
• Loss

Usage

The term "compensation" is widely used in legal, financial, and employment contexts. It is often used to refer to payments made to employees for their services or to individuals as a remedy for harm or injury. For example, "The company provided compensation to the employees for the extra hours they worked," or "She received compensation for the injury sustained during the accident." It is also used in psychology to describe mechanisms by which people make up for perceived deficiencies.

Related Terms

• Salary: A fixed regular payment made to an employee.
• Restitution: The restoration of something lost or stolen to its proper owner.
• Indemnity: Security or protection against a loss or financial burden.

Detailed Definitions

Noun

• Money or benefits awarded for services or loss: Refers to financial or material rewards given to someone to cover work done or to remedy an injury or loss.
  • Example: "He received compensation for the damage to his car after the accident."
• The act of making up for a deficiency or loss: Refers to psychological or emotional counterbalancing of perceived weaknesses.
  • Example: "She uses humor as compensation for her lack of confidence."
• Payment to employees for work or services: Refers to salaries, wages, or other benefits provided in exchange for labor or services.
  • Example: "The company offered additional compensation for overtime work."