Mercer Rewards Optimizer ®

Attract, engage, and retain the employees you need while avoiding “wasted” dollars through total rewards optimization.

Product Highlights

Mercer Rewards Optimizer ® is a powerful tool. It allows you to identify the most effective rewards package to best meet the needs of your employees at the same or lower cost.

The optimization process consists of two primary inputs:

Workforce Preferences

  • Measuring workforce preferences through a conjoint analysis survey
  • Integrating an employee feedback experience seamlessly
  • Managing awareness and expectations

Cost impact data

  • Analyzing the cost implications of program changes
  • Identifying the most effective combination of rewards features
  • Testing different packages using portfolio optimization
  • Obtaining detailed reporting and recommendations

Collecting Preferences through a Conjoint Survey

The first step is to measure employee preferences through a custom survey that includes a simple series of trade-off questions. Conjoint is a sophisticated research methodology that allows for a comprehensive understanding of the preferences that drive employee behavior, providing both the rank order and magnitude of preferences for the program features tested.

Bringing Together Preferences and Cost through Portfolio Optimization

The second step of total rewards optimization borrows the concept of the efficient frontier from economics, allowing us to gain insight into the impact that program changes will have on the behaviors of the employee population.

The efficient frontier provides us with a series of “optimized” packages, pinpointing the most efficient way to spend dollars and maximize employee preferences. By leveraging this total rewards optimization concept, organizations can deliver a total rewards package that better satisfies the needs of employees at the same or lower cost to the organization simply by taking out “wasted” dollars and reinvesting them in under delivered rewards areas.

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  • Sub TitleAttract, engage, and retain the employees you need while avoiding “wasted” dollars through total rewards optimization.
  • Short DescriptionPrioritize investments and deliver on the things that you workforce wants and needs with total rewards optimization.
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Product Highlights

Mercer Rewards Optimizer ® is a powerful tool. It allows you to identify the most effective rewards package to best meet the needs of your employees at the same or lower cost.

The optimization process consists of two primary inputs:

Workforce Preferences

  • Measuring workforce preferences through a conjoint analysis survey
  • Integrating an employee feedback experience seamlessly
  • Managing awareness and expectations

Cost impact data

  • Analyzing the cost implications of program changes
  • Identifying the most effective combination of rewards features
  • Testing different packages using portfolio optimization
  • Obtaining detailed reporting and recommendations

Collecting Preferences through a Conjoint Survey

The first step is to measure employee preferences through a custom survey that includes a simple series of trade-off questions. Conjoint is a sophisticated research methodology that allows for a comprehensive understanding of the preferences that drive employee behavior, providing both the rank order and magnitude of preferences for the program features tested.

Bringing Together Preferences and Cost through Portfolio Optimization

The second step of total rewards optimization borrows the concept of the efficient frontier from economics, allowing us to gain insight into the impact that program changes will have on the behaviors of the employee population.

The efficient frontier provides us with a series of “optimized” packages, pinpointing the most efficient way to spend dollars and maximize employee preferences. By leveraging this total rewards optimization concept, organizations can deliver a total rewards package that better satisfies the needs of employees at the same or lower cost to the organization simply by taking out “wasted” dollars and reinvesting them in under delivered rewards areas.

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When creating, implementing, and refining a total rewards strategy, one of the most critical inputs is employee needs. Yet, these needs are almost always overlooked during the decision-making process. Much of this disconnect results from an organization’s lack of understanding of the needs and preferences of employees.

To complicate matters, the value that employees place on rewards often does not directly align with the amount being invested by the organization, causing the company to overinvest in some areas and a missed opportunity to create value in other areas.

Mercer Rewards Optimizer ® is the key to unlocking the power of your total rewards programs by helping you to prioritize investments and deliver on the things that the workforce wants and needs. Total rewards optimization will result in increased employee satisfaction, reduced wasted cost, and a better measurement of ROI, ultimately leading to better attraction, retention, and employee engagement.

Are you ready to see what Mercer Rewards Optimizer ® can do for you?

When creating, implementing, and refining a total rewards strategy, one of the most critical inputs is employee needs. Yet, these needs are almost always overlooked during the decision-making process. Much of this disconnect results from an organization’s lack of understanding of the needs and preferences of employees.

To complicate matters, the value that employees place on rewards often does not directly align with the amount being invested by the organization, causing the company to overinvest in some areas and a missed opportunity to create value in other areas.

Mercer Rewards Optimizer ® is the key to unlocking the power of your total rewards programs by helping you to prioritize investments and deliver on the things that the workforce wants and needs. Total rewards optimization will result in increased employee satisfaction, reduced wasted cost, and a better measurement of ROI, ultimately leading to better attraction, retention, and employee engagement.

Are you ready to see what Mercer Rewards Optimizer ® can do for you?
No

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