To attract and retain talent it’s essential to get compensation and benefits right: make data-driven salary decisions.
Among the pandemic’s significant reverberations is what’s being called the great resignation. In a recent Mercer survey, nearly 40% of the organisations surveyed globally reported that their voluntary attrition rates were higher than usual among entry-level and mid-career professionals. Notably, over 65% of the respondents also indicated that the primary driver of the voluntary turnover was dissatisfaction with pay and/or ability to get a higher salary at another company.
A competitive pay package is a critical element in attraction and retention. So, it is no surprise that wages are rising as employers struggle to attract new employees and hold on to their current ones.
To find out, you need relevant compensation data to understand where your organisation stands comparative to the market, industry and roles. Get ahead of the competition with Mercer’s Total Remuneration Survey (TRS) - a comprehensive source of information on salaries in Australia
Mercer’s Total Remuneration Survey (TRS) is an easy-to-use source for consistently comparing compensation and benefits data and provides accurate, high-quality insights covering the full rewards package. This gives you a complete picture – from base pay to total remuneration and benefits – at your fingertips.
The 2021/22 TRS report is out now with fresh data. Interested in the top insights from this year’s data? Download the executive summary now.
As Australia learns to live with COVID-19 and optimism grows, it is critical to prepare your organisation to capture opportunities. This includes having access to accurate and up-to-date remuneration data. For in-depth reward and benefits intelligence, purchase the Mercer Total Remuneration Survey, or learn how you can participate with Mercer's salary benchmarking surveys.