A just-released global Mercer study shows how deeply the economic downturn has impacted most areas of HR, talent and compensation management.  The study, conducted in May of this year, which had over 2,000 worldwide participating organizations, is revealing in how the entire international business community has been impacted by the global recession.

For instance, 82% of respondents report reduced financial performance in 2008 and 2009. Over one-half (58%) of participating organizations say they plan some workforce cuts sometime in the remainder of 2009, although only five percent expect to make cuts of 10% or more to their workforce.

57% of respondents paid smaller bonuses for 2008 performance than in the previous year, and that number is sure to increase in 2009 (our commentary).  Just 20% paid higher  bonuses for 2008 performance than the year prior.

The report covers a number of other areas of interest to HR and reward professionals, including retirement plan impacts, changes to health benefits and employee cost-sharing, and other impacts on HR and reward programs.

This and other recent studies are available for download to all StrategicPay™ Series customers in the "additional resources" folder.