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In last couple of years, I have seen so many tail events than probably rest of my life. However, we all learn to adjust our lives with COVID, Inflation, Climate Change and more. At Mercer, learning is an integral part of our work life. Recently on 21st July, we celebrated our learning day. Here, colleagues are encouraged to devote a day to learn new skills, read more of their choice and become more adaptable to ever changing world surrounding us.
For our readers here, our monthly newsletter brings many thoughtfully written articles, reports and more. Our research always intend to help bring a perspective of present challenges, and future uncertainties. This month our topics cover our perspective on long term incentive plans, managing people risks, talent mobility trends and details of our India Global mobility forum.
We hope you enjoy reading as much as we did while curating, and do share with us what you like to hear more from us at mercerindia@mercer.com
Hemanshu Jain
Lead Consulting Actuary
Mercer India
Do you know which people risks provide the greatest threat to your business and how to mitigate them? Find out how managing people risk across five key pillars can build business and human resilience. Join us to hear more from our latest research Resetting priorities to manage risks for workforce and business resilience . Join us for a virtual session organized by Marsh India in association with PARIMA, where we will share insights and views from People Risk in the Indian context.
Restricted stock units, Performance stock units and Employee stock options, what is the right choice for a long-term incentive plan? Long-term incentives (LTIs) are a valuable part of total compensation packages that help in delivering rewards while enabling employees to focus on desired future objectives. Read our latest insights from Vinayak Vayuvegula and Debasmita Das.
Organizations with multiple entities have unique schemes, with its own set of circumstances and strategic objectives. When employees move between these entities, for all defined benefit pension schemes should be considering actuarial valuation to assess balance and P&L impact.
Mercer’s actuarial valuation team enables organizations to identify the most effective way to manage actuarial value assessment as they progress along the path.
Keeping up with today's blistering pace of change in the workforce can be a challenge. Modifying your total reward approach is no exception, especially knowing how diverse pay practices are across the world. Ensuring your remuneration levels are aligned to the market – whether you’re hiring locally, regionally, or globally - is critical to securing the talent you need to be successful.
The Mercer Total Remuneration Surveys (TRS) provides high quality and comprehensive market data on compensation across globe. From base salary and short-term incentives, to total remuneration evaluate your competitive position across the full rewards package.
Mercer BenefitsMonitor™ is an interactive and user-centered online tool that allows you to compare your benefits data against that of your competitors and the general market, analyze how companies set up their benefits plans for the different employee groups, provides a one-stop source for the latest statutory benefits information and customize and run reports at your convenience
Mercer’s extensive survey data provides coverage across industries, which allow HR practitioners to optimize their budgets while remaining market competitive – offering you the best returns for your investments.
Domestic relocation in India is not a new concept, but in recent years a few important trends have attracted more interest and focus than ever before:
Many companies within Indian have embraced domestic mobility to meet their staffing needs. This type of mobility is great for finding hard-to-recruit talent, filling skills gaps, or developing employees within organization. Having the right policies and data is essential for a competitive yet cost-effective program.
Companies looking to balance cost reduction with market competiveness are increasingly exploring feasibility of offering extended relocation support to their employees, however the key question organizations are facing while designing relocation packages is to compensate either for Cost of Living differential or for Cost of Labor.
Over last couple of years, organizations have seen how pandemic has disrupted global economies and talent movements, having an impact on where and how we work. At the onset of the pandemic, workforce globally were forced to work remotely amidst global and local restrictions. Within India, organizations supported employees to relocate to their native places to ensure employee wellbeing.
Mercer’s 2022 India Domestic Mobility Report contains practices on relocation benefits including comprehensive insights on how organizations design and manage benefit provisions for India domestic relocations.
The launch meet of the India Global Mobility Forum 2022-23 was conducted on 19th July, 2022. The seventh edition of the forum embraces 13 Indian Headquartered member companies with significant global presence from six varied sectors, covering 750+ expatriates across 45+ countries.
The theme of the launch was “Mobility in Evolving Times” and it covered topics like Mobility Talent Trends in 2022, Location Specific Insights on Mobility, Impact of Inflation and Exchange Rate Fluctuations on Expatriate Allowances.
The collective consciousness of this Mercer governed forum is to shape future focused mobility processes by solving on ground challenges that Rewards/ Global mobility professionals face by methods of agile networking, practice sharing, spot surveys, thought leadership, proprietary data to name a few.
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