Mercer (consulting firm)

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Mercer, LLC
Company typeSubsidiary of Marsh & McLennan; LLC
IndustryHuman resource consulting
Founded1975
HeadquartersNew York City, New York
150 offices in 42 countries
Key people
M. Michele Burns, Chairman & CEO
ProductsHuman resource consulting services, including retirement, health & benefits, human capital, surveys & products, communication, investments, outsourcing, and mergers & acquisitions
RevenueUS$ 2.7 billion in 2006
Number of employees
17,000 employees worldwide
Websitewww.mercer.com

Mercer is a human resource consulting firm, headquartered in New York City, New York, that is recognized as one of the leading business institutions in the world. It has been ranked by Vault.com, Inc. as the #1 human resource consultancy for several years running, including most recently in 2008.[1] Among all consulting firms, Mercer is currently ranked #6 for prestige.[2]

History

Started in the United States in 1937 as the employee benefits department of Marsh & McLennan, Inc., the company took the name of “William M. Mercer” in 1959, when Marsh & McLennan acquired William M. Mercer Limited, a Canadian firm founded by William Manson Mercer in 1945. In 1975, Mercer became a wholly-owned subsidiary of Marsh & McLennan Companies, Inc. In 2002, its name was changed to Mercer Human Resource Consulting. In 2004, the company acquired Synhrgy HR Technologies.[3] Recently in 2007, the company became simply "Mercer."[4] Currently, Mercer is the world's largest human resource consulting firm.[5]

Publications

Worldwide Cost of Living Survey[1]

Competitors

Mercer's major competitors include Watson Wyatt Worldwide, Hewitt Associates, Towers Perrin, and Hay Group.

Stock Exchange Scandal

In 2004, Mercer admitted giving the NYSE board a compensation report that contained "omissions and inaccuracies" that led to a $139.5 million pay package for former NYSE Chairman Richard Grasso. Mercer had been brought in to advise the stock exchange on Grasso's 2003 contract and his request for $139.5 million. The consultancy, however, assuaged the matter, giving back $440,000 in fees it collected from the NYSE and providing key documents in the lawsuit.[6]

References

  1. ^ Mercer Jobs & Careers: Vault Employer Profile
  2. ^ Consulting Firm Rankings: Vault Top 50 Management & Strategy Consulting Firms
  3. ^ HRO Today News: January 6, 2004 - Mercer Human Resource Consulting and Synhrgy HR Technologies agree to join forces
  4. ^ Mercer looks to drive growth with new brand
  5. ^ Mercer: Consulting. Outsourcing. Investments
  6. ^ HR Figures Prominently in Stock Exchange Scandal
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