Articles from Mercer

Today, Mercer, a business of Marsh McLennan (NYSEMMC) and a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people, released the results of the November 2024 Mercer QuickPulse™ US Compensation Planning Survey.

Mercer, a business of Marsh McLennan (NYSEMMC) and a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people, released results from its 2024 National Survey of Employer-Sponsored Health Plans.

Mercer, a business of Marsh McLennan (NYSEMMC) and a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people, today announced the completion of the acquisition of Cardano. Terms of the transaction were not disclosed.

Mercer, a business of Marsh McLennan (NYSEMMC) and a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people, and CFA Institute today released the 16th annual Mercer CFA Institute Global Pension Index (MCGPI).

Mercer, a business of Marsh McLennan (NYSEMMC) and a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people, today released the results of its 2024 Absence and Disability Management Survey. The results shed light on the changing landscape of paid leave benefits.

Today, Mercer, a business of Marsh McLennan (NYSEMMC) and a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people, released preliminary results from its 2024 National Survey of Employer-Sponsored Health Plans.

Mercer, a business of Marsh McLennan (NYSEMMC) and a global leader in helping clients realize their investment objectives, shape the future of work and enhance health and retirement outcomes for their people, today released new research, Future of the U.S. Healthcare Industry: Labor Market Projections by 2028. The report projects a nationwide healthcare worker shortage of 100,000 by 2028.

Mercer, a business of Marsh McLennan (NYSEMMC) and a global leader in helping clients realize their investment objectives, shape the future of work, and enhance health and retirement outcomes for their people, today announced that its Mercer Wise 401(k) and Mercer Wise Pooled Employer Plan (PEP) have reached a combined USD $3.6 billion in US plan assets under management (AUM).1

Mercer, a business of Marsh McLennan (NYSEMMC) and a global leader in redefining the world of work, reshaping retirement and investment outcomes and unlocking real health and well-being, today released the results of its Survey on Health and Benefit Strategies for 2025. The survey reveals that despite higher healthcare cost trends, the majority of employers will not cut health benefits, and many will make enhancements to their programs, although they may be doing so more selectively than in past years.

Mercer, a business of Marsh McLennan (NYSEMMC) and a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, today announced that it reached an agreement to acquire Cardano.

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and a business of Marsh McLennan (NYSEMMC), announced today the successful fundraising for Mercer Private Investment Partners VII ("PIP VII") with the fund securing limited partner (LP) capital commitments totaling over USD $3.9 billion.i

Mercer, a global investments leader and a business of Marsh McLennan (NYSEMMC), today announced the completion of its acquisition of Vanguard’s Outsourced Chief Investment Officer (OCIO) business that provides investment management services for not-for-profit organizations and other institutional investors in the United States.

Mercer, a business of Marsh McLennan (NYSEMMC), today released its 2024 Global Talent Trends Study. Drawing on insights from over 12,000 C-suite executives, HR leaders, employees and investors globally, the research reveals actions employers are taking to thrive in this new era.

Mercer, a global leader in unlocking real health and well-being and a business of Marsh McLennan (NYSEMMC), today launched Mercer SelectRx, an exclusive product offering that leverages Free Market Health’s proprietary, cloud-based technology platform to drive competition among specialty pharmacies for high-cost specialty medications and savings for employers and their employees.

Mercer, a global leader in reshaping retirement and investment outcomes and a business of Marsh McLennan (NYSEMMC), today announced that it reached an agreement to acquire Vanguard’s outsourced chief investment officer (OCIO) business that provides investment management services for not-for-profit organizations and other institutional investors in the United States.

Today, Mercer, a business of Marsh McLennan (NYSEMMC), released the findings of its 2023 National Survey of Employer-Sponsored Health Plans, which found the average per-employee cost of employer-sponsored health insurance rose by 5.2% in 2023 to reach $15,797.

According to Mercer’s 2023-2024 Inside Employees’ Minds© study, US employers’ investments in pay, benefits, and flexibility have resulted in employees having more positive attitudes about work this year. Concurrently, financial stressors remain a top concern across all demographics as many employees are struggling with making ends meet, increased debt and rising healthcare costs.

Mercer and CFA Institute have released the 15th annual Mercer CFA Institute Global Pension Index (MCGPI). The Netherlands’ retirement income system has regained the top spot on the list, with Iceland and Denmark taking second and third places respectively.

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh McLennan (NYSEMMC), today released its inaugural 2024 Large Asset Owner Barometer.

Today, Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh McLennan (NYSEMMC), released the results of its August 2023 Mercer QuickPulse™ US Compensation Planning Survey. According to the survey, employers in the US plan to raise their compensation budgets by 3.5% for merit increases for 2024 and 3.9% for their total salary increase budgets for non-unionized employees. This compares to actual merit increases of 3.8% and 4.1% for total salary increase budgets for non-unionized employees in 2023.i

Today, Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh McLennan (NYSEMMC), released preliminary results of the 2023 National Survey of Employer-Sponsored Health Plans. According to the survey, even after taking into account changes US-based employers made to healthcare plans that are designed to slow cost growth, employers expect total health benefit cost per employee to rise 5.4% on average in 2024.

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh McLennan (NYSEMMC), announced the appointment of Olaolu Aganga as Partner, US Chief Investment Officer (CIO), effective today. Ms. Aganga will report to Hooman Kaveh, Global Chief Investment Officer, and join the leadership team for Mercer’s US Outsourced Chief Investment Officer (OCIO) practice.

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh McLennan (NYSEMMC), has named Jeff Elliott as Global Chief Operating Officer (COO), effective immediately. Mr. Elliott is responsible for leading and enhancing Mercer’s operations and technology globally. He also retains his previous responsibilities as Mercer’s US & Canada COO, a role he has held since joining the firm in 2021. Based in Charlotte, North Carolina, Mr. Elliott joins the Mercer Executive Committee, and reports to Martine Ferland, President and Chief Executive Officer, Mercer.

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh McLennan (NYSEMMC), announced the appointment of Jennifer Kruse as US Outsourced Chief Investment Officer (OCIO) Leader.

Leading health and benefits consultancy Mercer Marsh Benefits, a business of Marsh McLennan, today released its 2023 Health on Demand Report, which revealed that employee stress is a critical issue for talent attraction and retention.

Mercer, a global leader in redefining the world of work and a business of Marsh McLennan (NYSEMMC), today announced the acquisition of Leapgen, a leading Human Resources (HR) technology advisory firm focused on digital strategy and transformation, workforce solutions, and improving employee experience.

The average per-employee cost of employer-sponsored health insurance rose by 3.2% in 2022, according to Mercer’s 2022 National Survey of Employer-Sponsored Health Plans, released today (Fig 1). Last year saw a spike in cost growth (to 6.3%) as individuals caught up on healthcare needs delayed as a result of the pandemic. While this year’s increase may seem like a return to normal trend, it is far below general inflation, which is averaging about 8% for 2022. Typically, health benefit cost growth runs higher than general inflation. According to Sunit Patel, Chief Health Actuary at Mercer, 2022 is an anomaly because employer health plan sponsors haven’t felt the full impact of inflation yet.

After two years of existential crises – the pandemic, a war in Europe, and historic inflation – employees are more focused on their financial security and well-being than climbing the ladder or career advancement, according to Mercer’s 2022 Inside Employees’ Minds study. The number of employees who are considering leaving their employer has increased to 36% compared to 28% in 2021, with low-income (those who make less than $60k per year), frontline (healthcare, retail, hospitality, etc.), and underrepresented employees being more likely to consider leaving than other groups. The findings also show significant declines in employee satisfaction and commitment across the board since last year, most noticeably in compensation, benefits, and career goals.

Today, Mercer and the CFA Institute released its 14th annual Mercer CFA Institute Global Pension Index (MCGPI). Iceland’s retirement income system has once again topped the list, with The Netherlands and Denmark retaining second and third places respectively in the rankings. As more employers have stepped away from defined benefit (DB) plans, the study also investigates the challenges and opportunities with the global shift towards defined contribution (DC) plans where individuals bear increased financial responsibility.

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh McLennan (NYSEMMC), has named Marc Cordover as US Investments and Retirement Leader. Previously Mercer’s East Wealth Market Business Leader (MBL), Cordover will also join Mercer’s Global Wealth and US & Canada Leadership Teams. Cordover will have oversight of the firm's range of investment and retirement solutions. Based in Atlanta, he will report to Pat Tomlinson, President, US & Canada, effective immediately. Cordover will succeed Chris Mahoney, who was recently appointed Global DB/DC (Defined Benefits/Defined Contributions) Leader, Mercer.

Today, Mercer released the results of its 2023 US Compensation Planning Survey revealing that while salaries are going up, 2023 compensation budgets and salary projections for US employers are expected to lag behind inflation.

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh McLennan (NYSEMMC), has named Beth Kirk Malecki as Senior Partner and US Central Market CEO. Kirk Malecki will also join Mercer’s US & Canada Leadership Team. She will focus on leading the US Central Market in continued commercial success and deliver inclusive and engaging experiences to Mercer’s colleagues and clients. Based in Chicago, she will report to Pat Tomlinson, President, US & Canada, effective immediately.

Mercer, a global consulting and investments leader and a business of Marsh McLennan (NYSEMMC), today announced an enhanced Global Wealth leadership team structured to meet and anticipate evolving client needs and the significant growth of its Investments & Retirement business.

US employers expect health benefit cost per employee to rise 5.6% on average in 2023, according to early results from Mercer’s National Survey of Employer-Sponsored Health Plans 2022, which launched June 22 this year and remains open.

Not-for-Profit investors see private markets as the biggest opportunity for higher returns in the coming years, according to Mercer’s first Global Not-for-Profit (NFP) Investment Survey. However, the survey also found that diversifying their portfolios away from traditional asset classes comes with challenges including increased complexity, higher fees, and more resources required for effective investment manager selection.

More than 350 asset managers and asset owners from around the world say they’re uncertain where the global economy is heading, according to a live poll conducted last month at Mercer’s Global Investment Forum (GIF) US, with the three most likely scenarios identified as being: (1) a potential period of economy-wide overheating (26%), (2) stagflation (24%) and (3) a hard landing (22%).1 Greater than half of attendees (58%) also said they believed that their equity portfolio structure should be meaningfully different from the market cap weights right now, and more than 75% said their portfolios are currently on a carbon transition path.

Finding the right balance between a benefit package that supports attraction and retention but is financially sustainable has never been easy, but it’s especially challenging given the current labor market and volatile economic conditions. Employers recognize that employees have become more concerned with the “lifestyle fit” of the company they work for and compensation alone will not draw in – and keep – the people companies need to succeed. According to Mercer’s Survey on Health and Benefit Strategies for 2023, over two-thirds of the 700 employers responding plan to enhance health and benefit offerings in 2023 to improve attraction and retention or better meet employee needs.

Today, Mercer announced the results of its 2022 Cost of Living Survey with New York City remaining the most expensive city in the US for expatriates, ranking 7th worldwide, while Hong Kong SAR took the top spot globally. In addition to cost of living data, employee mobility research conducted by Mercer and the learnings from Mercer’s work with clients demonstrates that the war in Ukraine, exchange rate variations and widespread inflation are shrinking employees’ pay and savings.

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh McLennan (NYSEMMC), has named Max Messervy Head of Sustainable Investment (SI), Americas. Max will work across Mercer’s Investment & Retirement business to help bring Mercer’s expertise and scale to uncover top sustainable investment opportunities for its clients around the world.

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh McLennan (NYSEMMC), today released its 2022 Global Talent Trends Study, “The Rise of the Relatable Organization.”

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh McLennan (NYSEMMC), has named Christopher “Chris” Williams in a new fully dedicated Global Inclusion and Diversity (I&D) Leader role. In this role, Williams leads Mercer’s inclusion and diversity strategy globally and drive measurable and visible outcomes in this space. He is based in New York, and reports to Moreland Murray, Marsh McLennan Chief Inclusion & Diversity Officer (CIDO) and Achim Lueder, Mercer Chief People Officer (CPO).

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh McLennan (NYSEMMC), has named Mustafa Faizani US West Market CEO. Faizani joins Mercer’s US & Canada leadership team. He will focus on driving profitable growth by expanding Mercer’s capabilities in the West market to deliver high-quality client service, as well as innovative investments ideas, products, and solutions. Based in Los Angeles, he will report to Pat Tomlinson, President, US & Canada.

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and a business of Marsh McLennan (NYSEMMC), announced today that it successfully raised Mercer Private Investment Partners VI (“PIP VI”)i, with over $4.8 billion USD in total commitments. The global investor base includes corporate pension funds, public pension funds, insurance companies, and endowments and foundations from Europe, North America, Asia Pacific and Africa.

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, (NYSEMMC), has named Holly Verdeyen as the US Defined Contribution (DC) Leader. Based in Chicago, Holly’s responsibilities include managing the strategy, development, and growth of Mercer’s defined contribution and financial wellness business within the US. She will report to Chris Mahoney, US Wealth Leader.

The average per-employee cost of employer-sponsored health insurance jumped 6.3% in 2021 as employees and their families resumed care after avoiding it last year due to the pandemic, according to Mercer’s 2021 National Survey of Employer-Sponsored Health Plans, released today. With the highest annual increase since 2010, health benefit cost outpaced growth in inflation and workers’ earnings through September, raising the question of whether employers are seeing a temporary correction to the cost trend (following last year’s increase of just 3.4%) , or the start of a new period of higher cost growth.

Employer-sponsored health centers (both in-person at the worksite and virtual) continue to be a key health and benefits strategy despite the pandemic forcing employees to stay home and defer in-person care. According to Mercer’s 2021 Worksite Health Center Report, conducted in collaboration with the National Association of Worksite Health Centers (NAWHC), a non-profit trade association for employers who sponsor worksite health centers, nearly one-third (31%) of respondents (US organizations with at least 5,000 employees) offer primary care health centers, up from 20% in 2010. The pandemic has not caused health center sponsors to retrench this popular benefit to any significant degree; only 1% of respondents say they will decrease the number of health center locations as a result of the pandemic.

The pandemic has highlighted a stark divide in how different demographics experience work, according to Mercer’s 2021 Inside Employees’ Minds study that surveyed over 2,000 US-based employees on what has been termed “The Great Resignation.” The findings showed that attraction and retention challenges are likely to continue in certain segments of the workforce, where there is a disconnect between what employees want and what employers are offering. While the “Great Resignation” implies a mass exodus of workers across demographics, a “Great Reckoning” signifies that only particular groups of workers – those who feel their employers are not meeting their needs – are considering leaving their job.

Iceland’s retirement income system has been named the world’s best in its debut in the 13th annual Mercer CFA Institute Global Pension Index (MCGPI). The Netherlands and Denmark have taken second and third places respectively in the rankings, after a decade of competing for the top spot. The study also reveals that there is much that pension systems can do to reduce the gender pension gap – an issue inherent in every system.

Employers expect health benefit cost to rise 4.7% on average in 2022 compared to 2021, according to early results from Mercer’s National Survey of Employer-Sponsored Health Plans 2021. The increase, based on 1,502 employer responses since mid-June, is largely in line with the average annual cost growth in recent years except for a dip in 2020 as many people delayed or went without care in the early months of the pandemic (see Figure 1).

Even before COVID-19, the US healthcare labor market faced remarkable challenges with the demand for healthcare professionals outpacing supply. As the US continues to grapple with the pandemic, those healthcare professionals will get stretched further. Mercer’s “2021 External Healthcare Labor Market Analysis” released today identifies four key trends impacting the US healthcare labor market over the next five and ten years, and reveals how the healthcare industry needs to adapt to address future labor shortages.

As the pandemic continues to unfold, the ability of employers to have a positive impact on employee health and resiliency cannot be understated and is one of the most important findings of the latest Mercer “Health on Demand” survey released today. Since the onset of COVID-19, when employers stepped up to provide essential support, it made a difference. Employees who say they received good support from their employers are much less likely to view their personal experience of the pandemic as mostly or entirely negative compared to those who received little or no support – 25% vs. 49%. And almost half (45%) of those receiving good support say they are less likely to leave their job as a result.

Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, and eVestment, a Nasdaq platform and global leader in institutional data and analytics, announced today a strategic alliance intended to expand access to high-quality research on investment managers and their investment strategies for institutional investors.

The number of independent contractors and freelancers, or gig workers*, has grown exponentially in recent years and is likely to continue accelerating as a result of COVID-19, with approximately 30 million Americans already receiving their primary income from gig work.1 When COVID-19 hit, many US businesses found themselves more reliant on independent workers as a part of their critical workforce. The trend toward an increase in the gig workforce is anticipated to continue as American workers search for non-traditional forms of employment that can offer more flexibility and a healthier lifestyle.

COVID-19 continues to cause unparalleled disruption to international mobility, prompting companies to re-evaluate how they will manage a mobile workforce in a post-pandemic world. Cost of living data, mobility research conducted by Mercer and the learnings from Mercer’s work with clients demonstrates that after several years of organizations’ efforts to modernize mobility strategies, organizations are beginning to implement alternate forms of international assignments and cross-border working arrangements to sustain their overseas operations and workforces.

The headline and first paragraph of release dated June 2, 2021 should read: $380 billion USD (instead of $390 billion USD).

More institutional investors are looking to access outsourced chief investment officer (OCIO) investment solutions as they continue to grapple with market volatility and trying to achieve investment goals in a prolonged low real interest environment. Mercer, a global leader in redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being, today announced its global assets under management (AUM) reached $390 billion USD as of March 31, 20212

Defined Benefit (DB) pension plans in the US are emerging from the COVID-19 pandemic into one of the most favorable policy and market environments they have seen in years – but DB sponsors remain cautious from years of secular headwinds. According to the 6th edition of the biannual Mercer/CFO Research Risk Survey “Next Steps in Pension Risk Management,” the pandemic offered a unique stress test for plan sponsors, as well as new opportunities to solidify and strengthen their deliberate, multi-year strategies. The survey makes clear that CFOs are seeking strong, strategic counsel – both in-house and outsourced – to help navigate what could be the most favorable landscape for defined benefit pension plans in many years.

Skills have become the new currency of workforce and talent strategies, as more than half of organizations that responded to the 2021 Mercer Global Talent Trends survey are targeting upskilling and reskilling of critical talent pools to drive workforce transformation.2 In response, Mercer has launched its Skills-Edge Suite, an integrated service offering of consulting, technology and data that helps companies advance skills-based talent and pay practices.