New Mercer survey reveals impact of economic turmoil on organisations globally

More than 1,000 organisations globally responded to Mercer's "Leading through unprecedented times" SnapShot Survey, which was conducted online during the first two weeks of November 2008. The survey findings paint a vivid picture of the HR, human capital and benefits challenges that organisations are facing as a result of the current economic turmoil.

In general, survey respondents indicate that they plan to implement a range of actions in the months ahead, but most appear to be refraining from taking drastic steps at this point, such as freezing salaries across the organisation, reducing defined contribution plan contributions, making significant workforce reductions or eliminating benefit programs altogether to cut expenses.

You can download an executive summary that highlights the survey findings and offers Mercer's perspective on their implications for employers and employees worldwide from the website.

Workplace 2012 New Zealand: What does it mean for employers?

Mercer recently commissioned research modelling the demographics of New Zealand's workplace between now and 2012.

The report features key findings of the research and addresses the impact of trends such as an ageing workforce, limited relief from a tight labour market for employers, globalisation and turning a brain drain into a brain exchange. It features Mercer's commentary and analysis of what these trends mean for employers as well as comments from HR executives from some of New Zealand's leading organisations.

Government proposed changes to super too costly and complex for employers

Proposed reforms to the calculation of employer superannuation contributions for income test purposes are too complex, will increase costs for employers, and will leave both employers and employees worse off, according to consulting, outsourcing and investments firm, Mercer.

In a submission to the Government's consultation paper, Reforms to Income Tests 2008-09 Budget, Mercer acknowledged attempts to improve equity and fairness in the system, but said the proposed approach would disadvantage employers and potentially individual workers.

Mercer's submission to the 2008 Henry Tax Review and Harmer Pension Review

Mercer has recently made a submission to the Federal Government's national tax and pension review. Mercer's submission focuses on changes that will improve the ability of Australians to save for retirement, encourage people to stay in the workforce longer and ensure better integration of the three pillars that underpin Australia's retirement system, namely: the age pension; compulsory savings through the Superannuation Guarantee system; voluntary savings, including super and non-super savings.

Following the initial round of submissions, the Government has asked the Tax Review Panel to bring forward its review of the retirement income system. As a result, the Review Panel has now released a further consultation paper on the retirement income system. Submissions are due by 27 February so that the Panel can report back to the Government by the end of March 2009. The Panel has also released another consultation paper on the tax system more generally with submissions closing on 1 May 2009. Mercer will be responding to the issues raised in these papers in the coming months.

Mercer's David Knox summarises the overarching approach and key recommendations in a brief podcast. You may also access Mercer's Submission Report on our website.

Baby boomers turn to employers as they face uncertain retirement future

Recent financial market turmoil has left employees uncertain whether they can afford to retire and, while they are looking to their employers for advice and assistance, many employers are failing to deliver, Mercer's 2008 Benefits Outside the Square Study has found.

Mercer's study of 600 working Australians and 150 employers, found that more than 40 per cent of employees aged 50 and over are unsure how much they will need in retirement, and one in four expect to delay retirement until their 70s.