TOTAL REWARDS

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Mercer's structured processes helps you to design, implement, manage and communicate a unique and balanced total rewards strategy that is understood by all your stakeholders. They help us to ensure that your total rewards strategy directly supports your overall business strategy, enabling  you to achieve the optimum return on the investment you make in your employees - and a real impact on your bottom line.

 

 

Mercer’s Total Rewards Approach

Click on each tier below for more detail on these services.

Phase 1: Define Context and Issues

Objective

Create a shared knowledge base to serve as the basis for developing the Total Rewards framework

Deliverables

• Gather employer perspectives from key stakeholders to understand desired project outcomes, current/future business issues, employee demographics and people opportunities and challenges
• Understand employee perspectives by assessing preferences and value
• Determine cost perspective by assessing current costs and modeling potential future scenarios
  
  

Tools  

• Executive interview guide
• Employee surveys and focus group guides
• Cost modeling tool

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Phase 2: Set Total Rewards Strategy  

Objective

Use the shared knowledge base as a factual platform to create Total Rewards framework, build the business case, and get leadership commitment

Deliverables

• Decide on Total Rewards framework and guiding principles
• Develop design parameters for each programme component (base pay, incentives, healthcare, pension plan design, career development etc.) and conduct gap analysis of current programmes
• Provide specific recommendations on costs

Tools 

• Sample guiding principles
• Sample cost modeler output
  

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Phase 3: Create Rewards Change Agenda 

Objective

Use the Total Rewards Framework and guiding principles (and additional analysis as necessary), to map the specific change agenda

Deliverables

• Begin process to socialise the Total Rewards framework within the broader organisation
• Develop and implement detailed change agenda and work plan

Tools

Sample specific change agenda

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Phase 4: Develop Implementation Overview  

Objective
Turn the change agenda into an implementation plan

Deliverables

• Reaffirm priorities and overall timeline for changes
• Develop communication strategy identifying
• Outline implementation activities map including: transition strategies, metrics for assessing success over time, overview of administrative requirements, next steps

Tools

• Sample implementation plan
• Employee communication portal

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