Measuring the Competitiveness of Your Rewards 16 April Jayna Koria Rewards Consulting Tim Haggstrom Information Solutions

Transcription

1 Measuring the Competitiveness of Your Rewards 16 April 2015 Jayna Koria Rewards Consulting Tim Haggstrom Information Solutions

2 Mercer A Global Consulting Leader Mercer helps clients around the world advance the health, wealth, and performance of their most vital asset their people. Mercer: A quick look Our clients: A quick look $3.9 billion in revenue. 65-year history. Offices in more than 40 countries. 19,000+ colleagues. 80% of top US public companies. 70% of FTSE 100 companies. 70% of CAC 40 companies. 65% of Nikkei 225 companies. 80% of clients <5,000 employees. 1

3 Mercer A Comprehensive Solution Set Mercer s four business segments are aligned to serve client needs. 2

4 The Job Marketplace What industries do you compete for talent with? Proportion of Ontario Workforce Manufacturing Utilities Transport Financial Services Professional Services Other Private Sector Organizations Other Public Sector Organizations Municipalities and Local Government Source: Statistics Canada, February

5 Total Rewards to Employees What makes up Total Rewards? COMPENSATION BENEFITS & PENSION My value today My financial security and protection CAREER DEVELOPMENT OPPORTUNITIES WORK/LIFE BALANCE & CONTRIBUTION My future value My quality of life Source: Mercer s 2014 North American Total Rewards Survey 4

6 Total Rewards to Employees Base pay is the most important element to employees in all age groups. Age 16 to 24 Age 25 to 34 Age 35 to 44 Age 45 to 54 Age 55 to 64 Age Base pay 1. Base pay 1. Base pay 1. Base pay 1. Base pay 1. Base pay 2. Career advancement 3. Flexible work schedule 4. Type of work 5. Bonus 2. Career advancement 3. Type of work 4. Retirement savings 5. Paid time off 2. Type of work 3. Retirement savings 4. Flexible work schedule 5. Bonus 2. Retirement savings 3. Type of work 4. Bonus 5. Working for a respectable organization 2. Retirement savings 3. Type of work 4. Working for a respectable organization 5. Low healthcare costs 2. Retirement savings 3. Type of work 4. Working for respectable organization 5. Flexible work schedule Source: Mercer s 2010 What s Working Study 5

7 Access to Compensation Insights Mercer has products, accessible through a single platform (WIN ), that give insight into competitive markets. Financial Services Engineering Municipalities General Industry 6

8 Annual Cash Compensation Compensation in the Province of Ontario What is the impact of incorporating the Broader market? $220 $200 $180 $160 $140 $120 $100 $80 $60 $40 $20 Broader Public and Private Sector Municipalities Ontario Municipalities Non-Union Staff Management 7

9 Total Cash Compensation (CAD 000 s) Total Cash Compensation by Region Measuring regional pay differences Greater Toronto Eastern Ontario Southwestern Ontario 20 Accounting Clerk Accountant Finance Analyst Project Manager - IT Facility Office Manager IT Manager Finance Manager 8

10 Total Cash Compensation (CAD 000 s) Total Cash Compensation by Industry Measuring pay differences across industries Financial Services Manufacturing Professional Services 20 Accounting Clerk Accountant Finance Analyst Project Manager - IT Facility Office Manager Finance Manager IT Manager 9

11 Ontario Municipal Compensation Survey 2014 Highlights 52 Municipalities. 78,000+ Incumbents. 86% Sample retention. How would you rate the 2014 OMCS survey? Survey planning Participation tools and process Data verification process Survey results data 0% 20% 40% 60% 80% 100% Does not meet Meets Exceeds N/A Source: Mercer 2014 OMCS participant feedback survey 10

12 The Survey Process Providing Reliable Data 1.Job matching 2.Completing the survey 3.Data cleaning 4.Results 11

13 1. Job Matching 1. Review your job description and other documentation. 2. Review the OMCS job descriptions. 3. Find job matches based on service line, function and responsibility level. 12

14 2. Completing the Survey 1. Download the Excel questionnaire from Mercer s website. 2. Enter contact and municipality information, including human resources policy data. 3. Submit compensation data for jobs in your organization that have a survey match. 13

15 3. Data Cleaning 1. After you submit, Mercer begins checking for correctness and completeness. 2. Mercer will send you any questions in a single Data Validation File with a similar layout to the questionnaire. Ensuring quality data together 3. Finally, Mercer examines data aggregately to evaluate correctness. YOU 14

16 4. Results Purchasers receive: 1. Compensation results in PDF format 2. Policy results in PDF format 3. Basic WIN access, or Premium WIN access 15

17 4. Results Mercer WIN In addition to the PDF report, purchasers can run unlimited custom reports in WIN. Premium access allows viewing results for individual municipalities. 16

18 Mercer WIN Compare survey results from multiple sources in your browser. 17

19 Mercer WIN Analyze data with unlimited custom filters in your browser. 18

20 2015 Survey Timeline Questionnaire available Participation webcast Data effective date Early participation deadline Submission deadline Data cleaning Data Validation Files (DVF) Results available WIN Training 19

21 2015 Pricing for Participants Results available in Mercer WIN. PDF report of compensation and HR practices data (e.g., flexible work arrangements, secondment pay, allowances and benefits). Two levels of access for participants. Standard access $950 Premium access $1,900 Limited filtering options: Annual Operating Budget Total Municipality Employment Municipality Population Municipal Tier Access to all filters Access to view another municipality s data 20

22 Contact Information Information Solutions Find all the information you need on our products, services, upcoming training courses and more! - Customer Service For help with the questionnaire, product questions etc. contact us: - Phone: info.services@mercer.com Alex Bell, Rewards Consulting alexander.bell@mercer.com Tim Haggstrom, Information Solutions tim.haggstrom@mercer.com

23 Mercer (Canada) Limited