Table of Contents:
Overview
Use cases
What you get
How to purchase
FAQs
Overview
In a rapidly evolving business environment, ensuring competitive, equitable, and fair compensation has never been more important. With Leapsome's partnership with Mercer, the leading provider in compensation benchmarking, we provide the data that gives you the information you need to evaluate your employee benefits packages to ensure your salaries are fair, reflect market trends, and remain competitive. In this article, you'll find different use cases using compensation benchmarking data, understand what you get with the package, and provide answers to the most commonly asked questions regarding this package.
Use cases
With Mercer compensation benchmarking, you have the ability to do the following:
- Stay up to date with salary ranges and bonuses: Information is updated once a quarter, which allows your organization to stay ahead of the curve by understanding what your specific industry's compensation & bonus trends look like.
- Refine company strategy and streamline processes: In a historically complex process of determining compensation, Mercer benchmarking equips your organization to determine what fair salaries/bonuses are with a richer context for strategic pay decisions. This can also help make it easier to handle financial planning and propelling business growth.
- Attract/Retain top talent and foster a positive company culture: Accurate benchmarking data that can be refined to match your company's size & industry helps to make well-informed decisions by creating competitive compensation packages. Our benchmarking data also supports companies in making fair and equitable decisions, thus furthering the initiative to foster diversity, inclusion, and a workplace that is equal.
What you get
- Over 250+ job functions to choose from
- Over 20+ job levels to choose from
- Over 100+ locations to best match your geographical compensation data
- Visibility into how many companies are included in each specific set of benchmark data and how many employees
- Long-term incentives in 10th, 25th, 50th, 75th & 90th percentiles
- Total direct compensation in 10th, 25th, 50th, 75th & 90th percentiles
- Base + variable salary (target) in 10th, 25th, 50th, 75th & 90th percentiles
- Fixed base salary in 10th, 25th, 50th, 75th & 90th percentiles
- Currency information in which data is reported
How to purchase
To get more information on how to purchase our compensation benchmarking, please reach out to the Leapsome support team or your Customer Success Manager if you are already a customer.
Not a Leapsome customer yet? Reach out to our team HERE!
FAQs
Q: What currency are Mercer benchmarks in?
A: The benchmarking data is shown in the currency of the country one seeks. Customers can see the currency of the benchmarks when they change the locations.
Q: How often is the data set(s) updated?
A: Once a quarter. The updates are the 3rd week (and not later than the 4th week) of March, June, September, and December of each year.
Q: How granular can I make the data to make sure I am getting the most accurate benchmarking information?
A: The Mercer Benchmarking allows you to filter the Job Function, Job Level, Location (by city or country), Industry Breakout, and Company Size Breakout to get the most accurate results.
Q: Can I purchase only the benchmarking information if I am not a Leapsome customer?
A: To access the data on Leapsome, you must purchase at least one Leapsome module and the Mercer Benchmarking before accessing the benchmarking data.