Whether you've been a compensation professional for years or or just starting your career, you already know how complex compensation planning can be. These 10 tips can help you fill your toolbox with with tools you need to more efficiently perform your job.

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In the recently published Compensation Planning Survey, part of Mercer QuickPulse™ survey series, we are seeing a lower that expected annual increase budget and a stabilizing labor market. Read more on projected budgets for 2024 and how you can easily access the results to help you finalize our 2024 increase budget.

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This article will provide you with considerations around when to use general industry and industry specific data –  or even when to use both!

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Accurate and timely compensation data holds even greater value this year as the dynamic between employee and employer continues to shift. This complex labor market means that there is no shortcut or substitution for valid, quality annual salary survey data and compensation reports.

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Use these compensation tips to get the information necessary for constructing logical pay structures and identifying top talent.

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Are you ready to take your market pricing to the next level? Develop and implement a benchmark methodology to increase your accuracy, efficiency and consistency and be sure your job pricing is aligned with your compensation philosophy.

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Long-term incentives are considered a standard piece of the rewards package and key drivers of engagement for many employers and employees. However, selecting the right performance metrics and determining how outcomes lead to payout are critical to ensuring this vehicle is able to drive home alignment to the company’s overall success. Read through the helpful tips and considerations shared by Ryan Cameron, one of Mercer’s incentive design experts to find out if your LTI plan is in need of a tune-up.

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There are many different structure designs and not all support the same sort of pay management. Let’s take a look at the many different types of pay management constructs and consider how they might work for various employee populations and organizational cultures. Do you have the best pay structure for your organization?

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