Developing the right solutions for a thriving 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.
 

An even greater challenge that lies beyond creating a flexible framework for a diverse workforce is 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?
 

Workforce rewards and incentives


 

 

 

Why choose our workforce reward and incentive solutions?

As an industry leading team of specialists with local and global insights, we can help you with your rewards and incentives strategy.
 

Performance

 

Improve performance with planned remuneration and benefits.

 

Efficiency

 

Take advantage of local and global remuneration data and insights.

 

Engagement

 

Improve employee engagement with tailored rewards and incentives.

 

 

 

How we can help

Developing the right workforce rewards and incentives strategy
 

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 organisation and the world, job architectures that help your employees build careers and dynamic career frameworks that guide your rewards decisions.
 

Mercer can help you to develop meaningful workplace rewards that can help you:
 

  • Create incentives that drive growth with talent strategy and workforce rewards.
  • Get a data-driven read on performance with job analysis and job evaluation.
  • Benchmark salaries and level jobs across a wide variety of industries and geographies with base pay and pay structure design.
  • Build your employees’ careers through job architecture and career frameworks.
  • Manage costs through pay-for-performance or variable compensation plans.
  • Design an effective rewards strategy to drive performance.
  • Harmonise rewards strategies following a merger or an acquisition.
Workforce rewards and incentives strategy

Compensation is less important for Generation Y but is a key driver for Baby Boomers. To personalise their value proposition, companies have begun using personas to identify what matters most to target populations and to operationalise their total rewards program for distinct groups.


 

 

Why partner with us?

Workforce rewards and incentives with a sound foundation
 

Mercer’s workforce rewards and incentives consultants are trusted advisors to public- and private-company senior management and boards of directors. We’re committed to providing the best-in-class expertise in the areas of workforce rewards and incentives and benefits, pay-performance alignment, and corporate governance.
 

 

Our workforce rewards and incentives advisory services are founded on:
 

  • A collaborative approach:  Our consultants use their knowledge and experience to provide advice and counsel, not just data.
  • Multiple viewpoints:  We consider shareholder, board member, company, and employee perspectives while reflecting both external and competitive realities.
  • Market data:  We utilise executive market data from all relevant sources to meet your needs and custom design survey instruments and analytics on specific issues. 
  • Objectivity: We have established global business standards to manage potential conflicts of interest inherent in advising boards of directors and management on executive rewards issues.

 

Workforce rewards and incentives planning

 

 


 

Get in touch with Mercer...

 

Chris Perritt

Chris Perritt
Rewards Leader, Pacific


 

 

Financial Accountability Regime (FAR)

 

 

Speak with a Mercer Consultant

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