Nearly two in five employees say they are satisfied with their employers, pay and benefits, but are still considering leaving (Mercer Global Talent Trends, 2020). Not great odds for employers who need to build a workforce for the future in a tightening labor market.
For HR leaders to effectively attract and keep the talent they need, it’s not enough to offer just great pay and benefits. Employees in high demand expect and need more from their employers.
That’s why HR leaders need to expand their view of employee rewards by considering additional programs that differentiates their employee value proposition.
Employers that consider more than just pay and benefits in their total rewards strategy have the opportunity to strengthen their employee value proposition and inspire higher levels of motivation, productivity and workplace satisfaction.
Research shows that:
In addition, creating a purpose-driven work environment gives employees a chance to contribute to a greater purpose. Design career and wellbeing programs that enhance their experiences at work and at home. The employers that do this effectively can create and tap into the power of productive and thriving employees.
Mercer unlocks the full potential of your workforce through a meaningful strategy that inspires each and every one of your employees.
We help HR leaders design employee reward programs that go beyond optimizing costs of contractual elements like compensation and benefits and respond to employees’ needs for career growth, total wellbeing, and purpose, and:
Our total rewards experts will help you: