Rewards
In a world of rapid and constant change, attracting and retaining talent through a robust total rewards program is more challenging than ever. Leverage Mercer's expertise in pay fairness and transparency to ensure you're future-ready and able to offer a compelling employee value proposition.
95% of employers plan to invest in total rewards over the next 12 months.
It's time for change
Massive disruption in recent years has led to a significant change in what employees want, with well-being and flexibility at the heart of their desires.
This image highlights how massive disruption (global pandemic, war, political discourse, social un rest, inflation, labor shortage) is changing what employees want with well-being and flexibility at the core of their needs.
Four actions for getting started
Mercer recommends four actions you can take to redesign your total rewards strategy with a focus on sustainable differentiation:
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Lead with listening
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Get to the heart of the issue
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Identify where you want to shine
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Engage for impact
Amplifying intelligence in total rewards
Total rewards teams already work with huge volumes of data to make informed decisions around compensation and benefits. Amplified intelligence happens when artificial intelligence (AI) bridges gaps in our knowledge to stimulate new standards of work quality, decision-making and value creation. As AI advances, leading firms are experimenting with amplified intelligence, such as:
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Predictive performance analytics
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Pay equity and transparency
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Rewards and recognition
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Executive compensation
Five strategies to future-fit total rewards
Achieving success in total rewards requires balance. Employers seek cost-effective, well-benchmarked plans that attract top talent. Employees desire more of everything. However, with constrained budgets, it's becoming increasingly difficult to meet the diverse needs of today's employees.
