What does a total compensation package include?

A total compensation package encompasses both the compensation and benefits offered to employees, making it a comprehensive overview of what an employee receives in exchange for their work. This includes not just the base salary, but also various benefits such as health insurance, retirement plans, paid time off, bonuses, and other types of incentives.

By encompassing all these elements, the total compensation package reflects the true value of the employee's remuneration and is crucial for attracting and retaining talent. Employees often consider both monetary and non-monetary benefits when evaluating job offers, highlighting the importance of a well-rounded total compensation strategy in an organization.

The other options focus on narrow aspects of compensation. While performance-based bonuses and health benefits indeed form parts of the total compensation, they do not capture the full breadth of what employees are offered. Thus, the broad and inclusive nature of the correct option makes it the most accurate representation of a total compensation package.