- Better understanding of the responsibilities for each job. An industry catalogue is provided.
- Competitive evaluation for every item in the total remuneration package, in relation to the insurance industry.
- Salary increase information based on market practices, for better planning.
- Ability to compare against market (insurance industry) or against a specific segment.
- HR focus on value added activities, such as strategic planning, with less time spent on salary and benefits administrative tasks.
- Access to reliable and up to date market data, including long term incentives analysis and benefits quantification.
- Access to reports and statistics ad-hoc to your needs.
- Access to market information at any time and place through an online tool.
Mercer presents this survey’ results using two different approaches:
Total Compensation Analysis
- Traditional: comparison done by identifying the Insurance industry equivalent in Mercer’s job catalogue.
- Job pre-evaluation: all positions are analyzed using a system which delimitates the job responsibilities in relation to the job titles (Mercer system IPEv3.1)
Mercer´s methodology analyzes the total remuneration in 6 levels:
- Base salary = Base salary multiplied by 12
- Base annual salary= Base salary + Christmas bonus (multiplied by 13)
Total guaranteed cash compensation = Base salary plus guaranteed allowances
- Total cash compensation = Total guaranteed cash compensation plus
short-term incentive, sales incentive, profit sharing or other incentive awards
- Total direct compensation = Total cash compensation plus long-term
incentive awards, valued using Black-Scholes methodology for appreciation-based
- Total remuneration = Total direct compensation plus benefits and
The catalogue includes approximately 300 positions from all levels (from Analysts up to CEOs) in different areas of the company:
- General administration
- Operations administration
- Institutional marketing
- Marketing & products
- Administration staff
- Call centre & telemarketing
- Actuary techniques
Results are delivered via Mercer WIN® , interactive tool that allows access to the Club survey results and enables you to:
- Process the total sample of companies
and one defined sample by company (with a minimum of 8 participants)
- Generate ad-hoc unlimited reports (by job title, compensation level, etc.)
- Do job groupings for better reporting
- Export results to Excel
- Update data by index, both your company’s and the market’s data
Click here for a Mercer WIN® demo:
|Deadline to participate||May 2018|
|Effective date||May 2018|
|Survey Results||September-October 2018|