Mercer’s March edition of the US Compensation Planning pulse survey confirmed once again that the pandemic had little to no impact for the majority of companies when it came to rewarding employees. As we begin to navigate the new normal, what’s on their minds in terms of compensation planning for 2021?

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Determining the right pay for hourly positions poses many challenges. Getting your hands on the right data that gives you local data as well as a broad range of skill sets can be difficult. Until now! With Mercer Hourly Compensation Tool, you will no longer have to piece together your hourly pay rates using not-the-best-fit data and anecdotes from managers and employees.

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As we move into 2021, undoubtedly technology jobs will continue to be important as business continue to reinvent and re-set. However, there are also other jobs that have risen to importance – and some might surprise you.

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With many employers going through reductions in force in Q4 and, even more importantly, establishing budgets and compensation strategies for 2021 and beyond, this year’s salary surveys will have quite a story to tell. Using aging data, rather than participating in salary surveys and purchasing fresh data, would definitely be a mistake for a variety of reasons. Why, you might ask? Let us explain.

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Organizations that are still succeeding and planning for the future have one thing in common – they’re advancing their digital journey. Who are they looking to for help? The tech companies. The pressure on the tech industry to deliver innovative solutions is greater than ever before. And maximizing operational efficiency is critical for these companies moving at the speed of light. Learn about two invaluable tools that can help tech companies thrive today and plan for tomorrow.

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You can be confident that using Mercer’s 2020 US MBD/TRS data, published in August, reflects the go forward market. While we did ask employers for additional data, to see if there were additional pay actions as a result of the pandemic, we found that there was very little change. Here is the executive summary of the data refresh for both MBD and TRS within the United States.

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Now that remote work has become commonplace, what will the impact be on pay? Tauseef Rahman, a Partner at Mercer, expects the impact to be less than you might expect.

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Earlier this year, as the pandemic was unfolding, Mercer and other vendors were asking you to participate in salary surveys. We heard concerns that first quarter data was not going to be useful when planning for 2021. We sprang into action and launched a refresh in June. Read on to find out why you can confidently use Mercer’s 2020 survey data when planning for 2021.

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