While so many things related to the world of work have been thrust into relative upheaval, annual pay increases and structure adjustments seem to be untouched. With over 1,500 participants combined between Mercer’s US Compensation Planning and Canada Compensation Planning pulse surveys, we have a preliminary view into the annual compensation planning process underway right now. Take a look and see how this aligns with the budget you are planning for merit, total, and promotion increases and for salary structure adjustments.

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Retailers are being particularly hard hit by the talent shortage. Just what is going on and what can be done to bring the workers back?

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Whether it's an hourly talent shortage or a crisis, the fact remains that employers are struggling to find and keep hourly workers. Several large organization have already increased starting pay and/or their internal minimum wage in an attempt to attract and retain employees. So far though, increasing pay to attract hourly workers doesn't seem to be effective. What else are employers doing to get the much-needed hourly workers?

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The use of Environmental, Social, and Governance (ESG) metrics in incentive plan design is expanding as ESG investment strategies are becoming the norm for many institutional investors. How are you incorporating ESGs into your rewards strategy?

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Accurate and timely compensation data hold even greater value this year as a new post-pandemic normalcy begins to take shape. Presently, the general economy appears to have stabilized and is starting to rebound. A closer look at the details reveals significant differences across industries, locations, and company sizes. The 2021 compensation trends we see in the data reinforce how simply aging salary survey data would be a mistake.

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

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Looking for more insight on the impact of the healthcare talent shortage? We’ve got predictions of supply and demand for over 80 jobs in the US, down to the county level. Our insights will help you plan your talent strategy through 2031.

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