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Greetings from Mercer!
March is an interesting month – with women’s day, which is to celebrate the leader who manages her work with aplomb while handling a child with special needs, the manager who has two young kids and an ailing family member to care for, along with a full time job, the passionate orator who is trying to balance her career with continued medical intervention, a newly wed who is learning to wade through the maze of responsibilities at work and new family.. I would say in the same breath, to celebrate the male colleague, manager, leader, mentor who lends a hand at work to ease off pressure, leads a critical client delivery from front, offers step challenge and team treks to ensure team’s fitness, offers an Iftar and a feeling of home away from home and inspires to be a better version of self!
With women comprising 48.04% of the country’s population, 27.2% of the labour force, 14.5% of the parliament, there is a long way to go but I believe we are taking small yet firm steps.
Mercer is pleased to present PEC and Pay equity certification as a step towards creating a more balanced world @ work!
March is also the month when most of our clients are completing their pay review, so please reach out to us as your trusted partner to be your sounding board!
Hope you enjoy reading our newsletter as much as we enjoyed crafting it for you.
Mansee Singhal, Partner
Rewards Consulting Leader – India & South – Asia
A headline news was the guidelines issued by EPFO allowing eligible members to opt for higher Defined Benefit pension. While the last date for availing the option of higher pension is now extended to May 3, 2023, there are certain nuances that need to be understood before the options are thought through. Reach out to us for more info at preeti.chandrashekhar@mercer.com.
Total rewards have become more important than ever before for securing talented employees, which means your knowledge and expertise is key to your organization’s success and having the market insights at your end is super critical. For more information on developing a benchmark methodology and pricing of your jobs watch out for our 2022 Mercer Total Remuneration Survey (Mercer TRS Survey), released in November 2022.
According to Mercer’s recent M&A survey of over 750 executives, nearly half of all deals are subject to increasing chance of failure when companies do not adequately account for “people risk”. Ensure the best practices are incorporated in your next deal by attending our globally acclaimed M&A Ready™ Executive Development Program, which is being conducted for over two decades. The program covers all elements of people issues in a deal, including strategy/planning, due diligence, do-by-close, integration planning & implementation and strategic HR PMO.
Global mobility has been affected by mega trends and worldwide crises such as the COVID pandemic and its longer-term consequences, accelerated digitalization, the crisis in Ukraine and increased Environment, Social and Governance (ESG) awareness and importance.
Please complete any of the surveys by 17 March to get a complimentary executive summary report of the results.
As Human Resources (HR) professionals, or "People Managers," you know that one of the more anxiety-inducing aspects of the job is talking to employees about pay. Managers find it uncomfortable and often don't feel confident when explaining how compensation practices are determined. Pay conversations — especially when they don’t end with a pay increase - are never easy. Get expert tips for managers to have around employee pay conversations from one of Mercers & most experienced consultants in our career business.
The latest Pay for Skills survey results are in. They offer insights that will help accelerate the skills conversation in your company and allow you to benchmark your progress against your peers. More than 650 organizations from around the world contributed to the survey. They shared their experiences attracting, retaining and rewarding people with the skills they require to advance their business strategies.
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