Compensation is the single biggest expense for most companies, and today’s continuing tough economics and limited internal resources are making compensation decisions all the more difficult. But recently, employers are loosening the purse strings, ever so slightly, and are concentrating limited resources on top talent, according to Mercer’s 2014/2015 US Compensation Planning Survey. More than 1,500 organizations provided data for this annual survey, which reflects the salary practices of more than 16 million employees.
“Employee engagement and retention continue to be a top priority for employers,” said Mary Ann Sardone, Partner in Mercer’s Talent practice and Regional Leader of the firm’s Rewards segment. “As a result, employers recognize that they need to reward top-performing employees. And while pay is still most important, they’re continuing to provide rewards beyond compensation in the form of training and career development.”
Learn more about US compensation trends.
Get more information about this study at www.imercer.com/cps.