A technique of risk management where an individual or business assumes expected losses that are not catastrophic, protecting against catastrophic losses through insurance.
Employee benefits, often referred to as fringe benefits, are non-wage compensations provided to employees in addition to their normal salaries or wages. These benefits are key components of comprehensive compensation packages, aimed at attracting, motivating, and retaining employees.
Personnel Administration, now commonly referred to as Human Resources (HR) Administration or HR Management, involves the study and practice of managing an organization's human resources.
