As with any market pricing, the key to success is truly understanding your labor market and how it differs for each job. With hourly jobs, the labor market is unique – it’s both narrow and broad, all at the same time. Determining pay for your hourly positions, so that you can find and keep the people you need to be successful, is not always easy.
With the Mercer Hourly Compensation Tool, take your strategy to market pricing hourly positions from reactive to proactive and from anecdotal to facts. This tool gives you access to a whole library of hourly jobs from multiple industry surveys so that you can be as specific or as broad as you need. Featuring job family, job sub-family, and job description details, easily get access to important compensation elements and analysis insights for hourly positions within your organization.
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Hourly pay rate
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Annual base salary – including the ability to apply an aging factor to ensure an apples-to-apples comparison
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Short-term and sales incentive – actual amount and as a percent of base pay
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Short-term and sales incentive – target as a percent of base pay
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Short-term and sales incentive – eligibility & receivership
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Union status percentage
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New in 2021:
Minimum wage data for selected locations
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New in 2021:
New functionality to allow for downloading data for multiple separate locations all in one export
Are you ready to revolutionize market pricing for your hourly positions?
View this video to see more of the tool in action
