Market pay trends are an important aspect of market pricing. The year-over-year analysis helps companies assess general trends and ensure overall compensation for their employees is competitive. This permits them to properly allocate financial resources
NEW YORK (PRWEB) December 13, 2007
In addition to base pay, incentive pay and total direct compensation, the US Mercer Benchmark Database allows for analysis by industry, assets, revenue/sales, operating expenses/budgets, gross premiums, net revenue, total employment, geographic region and metropolitan area.
"With this database, organizations across all sizes and industries have the information they need to gauge competitive pay for the majority of their employees," said Bill Strobl, a principal at Mercer. "This makes the database incredibly valuable for users."
The 2007 US Mercer Benchmark Database results indicate a range of changes from 2006 in median total cash compensation. For example:
*Median total cash compensation includes base salary and annual bonus.
A key feature of the US Mercer Benchmark Database is the year-over-year comparisons by position. In addition to statistical displays, the year-over-year reports include commentary on challenges to measuring pay trends, perspectives on how different survey approaches add insight and other valuable intelligence.
"Market pay trends are an important aspect of market pricing. The year-over-year analysis helps companies assess general trends and ensure overall compensation for their employees is competitive. This permits them to properly allocate financial resources," explained Mr. Strobl.
The US Mercer Benchmark Database consists of 12 modules with positions in 15 functional areas, including: administration, communication, corporate affairs, customer service, engineering, knowledge management, finance, human resources, information technology, marketing, quality, research and development, sales, supply and logistics, and top management. For each position, the database provides statistical summaries for base salary, short-term incentives, total cash compensation (base pay plus short-term incentives), pay ranges and short- and long-term incentive eligibility and valuation.
The modules of the database are available individually or as a single, cross-functional database. To order the 2007 US Mercer Benchmark Database, visit http://www.imercer.com or call 800 333 3070.
Mercer is a leading global provider of consulting, outsourcing and investment services. Mercer works with clients to solve their most complex benefit and human capital issues, designing and helping manage health, retirement and other benefits. It is a leader in benefit outsourcing. Mercer's investment services include investment consulting and multi-manager investment management. Mercer's 17,000 employees are based in more than 40 countries. The company is a wholly owned subsidiary of Marsh & McLennan Companies, Inc., which lists its stock (ticker symbol:MMC) on the New York, Chicago and London stock exchanges. For more information, visit http://www.mercer.com.