The Index compares 44 retirement income systems, covering 65% of the world’s population Iceland tops the list for second year in a row As more employers shift from defined benefit to defined contribution plans, retirees will take on greater responsibility for financial well-being South Africa’s pension system ranked 34th out of 44 retirement systems reviewed/considered/covered? in the 14th annual Mercer CFA Institute Global Pension Index (MCGPI). Globally, Iceland was top, followed by the Netherlands, while Thailand ranked last. This year’s MCGPI also features Portugal as a new addition. The MCGPI is a comprehensive study of 44 global pension systems, accounting
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Johannesburg: Mercer’s Asset Allocation Insights 2022 report released today showed that South African pension funds invest 61% of their portfolios in equities, which is one of the highest equity allocations in the world. Allocations to growth assets increased year on year compared to the previous survey (+6%) as managers adopted a more pro-risk stance and investors looked toward a rebound in business activity despite the emergence of new Covid-19 variants. Mandisa Zavala, Head of Asset Allocation at Alexforbes, explains, “Increased equity allocations were primarily funded by a reduction in cash allocations, with domestic equities being favoured over international equities owing
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There is no doubt that business is increasingly acknowledging that diverse teams bring value to organisations and that companies with high levels of diversity substantially outperform those without. Yet despite the proven business case, many black women continue to face significant income inequality compared to their male counterparts. They also suffer from the absence of support systems and limited opportunities to advance into senior leadership positions. Over the past five years, important factors and forces have emerged and evolved, resulting in increased pressure on organisations for greater progress. This pressure is coming from many directions and few organisations remain untouched
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By Tamara Parker, CEO of Mercer South Africa With several vaccines approved, the new year started with a significant dose of optimism. Yet, it is already clear that 2021 will not be a walk in the park. For now, The South African government is taking the primary role in vaccine deployment but companies will need to prepare as new information emerges. Companies will need to think strategically about the implications for business operations. And the imperative to be a responsible employer requires companies to think hard about how to support vaccination plans. There are seven priorities that employers should consider now vaccines are
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As South Africa wraps up Youth Month in commemoration of the Soweto uprising 45 years ago (16 June), the reported official youth (15-34 years) unemployment rate has increased to 46,3% in the first quarter of 2021.  Despite government efforts to curb youth unemployment, the situation remains dire. As we continue to observe, companies that were better prepared for a global crisis, such as COVID-19, were able to respond quickly to change – given employees with broad skills that could adapt to new situations. Global research by IFS revealed that more than half of companies plan to increase spending on digital
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President Cyril Ramaphosa addressed the nation yesterday on the progress in the national effort to contain the Covid-19 pandemic. He said, “All employers must allow their staff to work from home wherever possible.” Remote work is no longer just a temporary safety measure. In many organisations, it is now the new normal. Tamara Parker, CEO of Mercer South Africa, said, “While working remotely makes sense from a safety perspective, it is creating new challenges, for the employee we are seeing a rise in employee stress, workload, and loneliness. While there is strong evidence that remote work often improves employee productivity, researchers have also found that coordination
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N’Djamena is the most expensive city for expatriates in Africa and Lusaka the least expensive The rankings provide an important insight for multinationals on the cost of recruiting or relocating an expatriate in Africa Mercer’s 2021 Cost of Living City Ranking of 400 global cities has listed N’Djamena (Chad) as the most expensive city in Africa for expatriates with Lusaka (Zambia), the least expensive. Based on the ranking, N’Djamena moved up two spots in 2021 from 15th to 13th place, while Lusaka moved from 201 to 208 in the rankings. The rankings provide an important insight for multinationals on the
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Millions of COVID-19 vaccines are expected to arrive in South Africa.  But, how will companies roll out the vaccines to their staff?  Especially if people become ill because of side effects or some employees refuse to take it.  Mercer CEO Tamara Parker told Gareth Edwards about seven priorities for companies when the second and third phases of vaccinations begin.  Courtesy #DStv403 / eNCA How will companies roll out vaccine to staff? – YouTube
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Given the events of 2020, South African companies and organisations will be investing in reinventing sustainability, defining future workforce needs and/or restructuring, and energising the employee experience Companies and organisations will place a premium on flexibility in business and work models to remain in business and thrive South African companies are acknowledging that the post Covid-19 period requires new thinking on talent and skills retention, embracing technology, incorporating sustainability in business models, and investing more in employee well-being, benefits and engagement. This is according to four trends emerging from the South African edition of Mercer’s Global Talent Trends 2020-2021 report
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