In a move to expand the coverage of the Mercer salary survey to other GCC countries, Paradigmz, the Middle East's leading performance consulting firm, has announced the launch of the first Mercer Total Remuneration Survey (TRS) for the Kingdom of Saudi Arabia. The data is being reported as on August 1st, with participant companies from leading sectors as IT, FMCG, Banking and Oil & Gas and the final reports will be released within the last week of November 2004.
"Mercer's salary survey is unique by being administered and processed online, worldwide. Mercer's online market pricing tool, Mercer PayMonitor, provides 24 hours direct access to the highest-quality and most comprehensive compensation data available. In four simple steps, one can develop standard or customised market levels for your positions globally at anytime, from anywhere in the world. This on-demand web-based customisation capability is unparalleled in the industry and gives one the edge to instantly measure their competitiveness in specific markets and industries," noted Aman Merchant, CEO of Paradigmz.
"The economic indicators in KSA illustrate a reinvigorated perspective for the Saudi economy this year, with 2003 being one of the best years in the past decade in terms of real economic growth. With a registered 3.6 million non-Saudi labor force and with the government efforts to introduce wide-ranging reforms in the labor market, education and training, the organisations in the kingdom are facing new challenges in managing their talent - that's where access to accurate and comprehensive compensation data is critical", added Merchant.
In its efforts to provide direct and precise connection between human capital practices and organisational performance, Paradigmz and Mercer will provide detailed studies of the Saudi market competitiveness, reflected in the typical salary practices and compensation mix, employee turnover, employment trends, as well as a variety of economic indicators related to human resource management decisions.
The Paradigmz team is committed to provide superior service before and after the survey and will provide clients with hard copies of the reports, CDs and Pay Monitor Access.
"Each company receives personalised assistance in the job matching and/or job evaluation process. Mercer combines the job matching with its proprietary International Position Evaluation System (IPE), a simple and user-friendly tool, which provides flexibility in processing non-benchmarked jobs. Organisations already using other position evaluation systems can easily adapt Mercer's methodology using specially designed conversion tables," concluded Merchant.
"We have been delighted with the success of our TRS in the UAE, and believe that this new survey enables us to provide existing and potential Saudi clients with access to our world-class compensation tools and services and stay on track for our TRS expansion plans in the Middle East", said Cameron Hannah, Head of Operations in Central and Eastern Europe for Mercer Human Resource Consulting.
Mercer Human Resource Consulting, one of the world's leading consulting organisations, helps employers create measurable business results through their people. With more than 13,000 employees serving clients from some 150 cities in 40 countries worldwide, the company is part of Mercer Inc., a wholly owned subsidiary of Marsh & McLennan Companies, Inc., which lists its stock (ticker symbol: MMC) on the New York, Chicago, Pacific, and London stock exchanges.
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Paradigmz is an innovative performance solutions consultancy specialising in measurably maximising the performance of organisations and individuals. It is a division of Leading Concepts, the Middle East's leading provider of public and in-house executive education, performance consulting and elearning solutions since 1999. Paradigmz has an exclusive strategic regional alliance with Mercer Human Resources Consulting - the world's largest human resource consultancy.
© Press Release 2004
