Total rewards optimization guidebook
Creating a total rewards strategy for today and tomorrow
Employees today are looking for something different — from their experience at work to the support they get from their employer. Mercer's Inside Employees' Minds research shows there's been a significant shift in the mindset around work driven by the pandemic, global social and political crises over the last few years, and ongoing disruption to business models in many sectors.
Only 6 in 10 employees say they’re satisfied with their compensation and benefits as inflation remains high, stocks fall, and tension grows across political and social discourse. But the mindset shift is bigger than a desire for more flexibility or even better pay. In a world where the future is uncertain, employees are focused on their well-being today and the meaning of work in their lives.
And employees still have leverage. Despite the changes in the economy, the labor market has remained resilient — and is expected to stay competitive for some time. As a result, we see that half of employers are revisiting their total rewards strategy in the next six to 12 months, with the goal of attracting and retaining new talent.