Your people define your culture and ultimately determine your organization’s success. The right rewards are critical. For most companies, rewards form the center of a talent strategy framework that supports the goals of your business.
But meaningful rewards aren’t one-size-fits-all. They should be designed to achieve the right outcomes and reinforce your company culture. Will you need rewards that vary by geography, business unit, skill area, generation and employee demographic? For most companies, the answer is yes.
Look at your balance sheet and you won’t see any line items that reflect your employees’ enthusiasm, engagement, or energy levels. But these intangible factors are key to employee performance. Make them sustainable with the right rewards strategies.
Business results are driven by people. But what are people driven by?
A paycheck, yes — but there’s more to it than that. Mercer has more than 80 years of experience understanding what drives employees and translating that knowledge into results. You won’t find data like ours anywhere else. Our benchmark database is the best in the business for evaluating and creating competitive compensation offerings.
We have the experience and the hard numbers to design your organization’s workforce rewards, structure incentive programs, manage internal equity, and, most of all, create a satisfied and more productive workforce.
Effective rewards strategy design means embracing the needs of a diverse, multigenerational workforce. Gen X-ers, millennials, and baby boomers of all backgrounds are working together. It’s a beautiful thing — and something that demands a more nuanced rewards strategy than ever before. After all, “rewards” means something different to different people, at different times in their lives, and in different parts of the world. In the era of choice, how you design and deliver this cornerstone of the employee value proposition is the biggest retention lever you can pull.
As unique as each person’s career is, we can make your rewards structure easier and more efficient with solutions like job levelling across your organization and the world, job architectures that help your employees build careers, and dynamic career frameworks that direct all of your rewards decisions.
An even greater challenge lies beyond creating a flexible framework for a diverse workforce: anticipating jobs that have yet to be created. The next generation of workers will be asked to fill many roles that don’t even exist today. But how can you plan for what you don’t know?
Mercer relies on proven science. Our International Position Evaluation (IPE) methodology underpins the job architecture and methodology we use to evaluate brand new roles. So you can maintain your stride even as the world of work changes before your eyes.
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