Rewarding employees isn’t just about giving them a pat on the back and saying, “Good job!” these days. It’s also not just about paying them more money. Identifying, incentivising and paying for good talent performance is most effective when it’s part of a broader approach to rewards.
At Mercer we believe that keeping your key talent, motivating them to ensure they’re performing at their best, and building a culture so enticing that external talent is very interested in joining you is just good business. The right talent rewards help employees see their time with you as more than a job: but as a career.
That’s why we look at rewards as part of overall performance management and help our clients formalise a process to incentivise employees fairly, based on good job design, formalised career paths, clear compensation structures and well-articulated incentive and bonus schemes. We know it’s about more than just the numbers: it’s also about putting mechanisms in place that drive the right actions because your people are the key to your sustainable growth.
Mercer has the expert guidance, tools and strategies you need to support your workforce across the key areas that matter most.
Here are some of the ways we can help you identify what great performance is, how to reward people and why this should form part of a broader approach to performance management and rewards.
1. Performance Measurement & Management
How well are your people performing? Performance management isn’t just about a gut feeling. Or, it shouldn’t be. The best performance measurement has to work hand-in-hand with your culture, while taking industry-specific practice and average salaries into account. It’s also about team collaboration. By setting out the appropriate guidelines and tone for what your workforce should do to succeed at their job (defining what it means to outperform or underperform, for example) and how often that should be reviewed, you’re setting a framework for continuous success. We can help at any stage of that journey.
2. Employee / Executive Rewards
Some consultants design programs to manage talent performance and rewards. We go further. With our global-rich capabilities we can manage programs that roll out locally or globally which means that the solutions we recommend aren’t just hypothetical: they’re fundamentally based on real-life experience, what the data tells us, what others have already done that works, and what will work for you. So when it comes to rewarding employees and executives appropriately we have the data (a lot of it!) to make rewards appropriate and drive behaviour. It’s important, because rewards aren’t just about salary or a bonus: they’re about helping employees realise that their efforts are really making a difference.
3. Total Remuneration Survey Report
What is the key to designing competitive pay packages worldwide? It starts with data. At Mercer we have the world’s largest and most comprehensive remuneration resource, featuring data from 140+ countries, 35,000+ organisations and more than 15 million employees. We can also provide the data underpinning this report in a format that supports your business needs. Just let us know what data you’d like to see.
What is the key to designing competitive pay packages worldwide? It starts with data.
At Mercer we have the world’s largest and most comprehensive remuneration resource, featuring data from 140+ countries, 35,000+ organisations and more than 15 million employees.
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