Mercer reviews

3.7

68% would recommend to a friend

(6,649 total reviews)
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Pat Tomlinson

33% approve of CEO

60% positive business outlook

Mercer has an employee rating of 3.7 out of 5 stars, based on 6,649 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Mercer employee rating is in line with the average (within 1 standard deviation) for employers within the Administración y consultoría industry (3.7 stars).

Reviews by job title

7K reviews
2.0
Jun 23, 2020

Only Care About Stats

Recommend
CEO approval
Business Outlook

Pros

-Benefits are good -PTO is good, but limited in when you can take it, and you get docked for sick time -Coworkers

Cons

From looking at Mercer's website and reading many of the reports that they put out, I expected much more since being brought on and have unfortunately been disappointed. I am not sure if the information presented is for show; perhaps there are a select few departments that actually represent what the company says they are all about. After being with the company for less than 1 year, I was told I was being moved into another department. I was given no choice in the matter. Business needs can change, yes, but the entire process was extremely disorganized, on top of being told I was moving and having no say so whatsoever. I was moved from a subject matter I enjoyed to one I really have no interest or experience in. The training was severely lacking. Since moving, I've made a few suggestions on what would help to succeed but it never goes anywhere. Management expects you to meet stats that they have determined to equate to succeeding, which are really just outdated call center metrics (i.e. customer satisfaction/survey percentage, but when a customer isn't satisfied, they don't actually follow up with the customer, average talk time, quality assurance score). When you don't hit certain numbers, you get reprimanded. But they aren't providing the tools necessary for employees to suceed. They want to be hands off (in terms of training), while suffocating you at the same time (in terms of harassing you over stats). As a result of hitting certain numbers, they're able to put a statistic on marketing material to present to a client. But are we actually providing a good customer experience that makes us stand out from the rest? No. Management asks, or surveys go out asking employees for suggestions, but nothing ever happens with what employees suggest. Changes get implemented based on what management wants. There isn't enough support to help employees out when we need it. Some departments don't have to do follow ups to customers that require research, but others do. When you are taking incoming calls, it becomes too much to also do research and do outbound calls on top of that. Management says they will give you time off the phones to work on pending items, but in reality, the staffing levels are too low to allow it. You then get emails with a request to let them know the status on a particular outstanding case. So the cases just sit there and don't get addressed. Management here is just lazy, no better way to say it (not all, so I do have to put that out there). They talk a big talk, but just lazy and not willing to help. A big overhaul is needed, behaviors need to be changed. The outdated policies need to be done away with. Pay is very low, but I could deal with that more so if things were done to improve the morale around here.

1.0
Jun 19, 2020
Recommend
CEO approval
Business Outlook

Pros

You will work with some very nice people on the Finance team in NYC for the most part. Good 401K and vacation days.

Cons

Management team is dreadful. They only care about themselves. If you have any problems about anything, don't bother communicating them to management. They will not listen. They will just get rid of you. Very little to no diversity on the Finance team in New York. You are not allowed to work from home if you are on the Corporate Finance team. You will not be able to focus on your work because the Marketing team sits next to the Finance team on the same floor, and they make so much noise you will go crazy. Don't bother complaining. They expect you to take it. No opportunities for advancement. They may say there are opportunities for advancement, but that's not what I saw when I was there.

1.0
Mar 17, 2020
Recommend
CEO approval
Business Outlook

Pros

Colleague are helpful and try to do the best for clients, which is not made easy for them. The overall benefit package is fairly competitive, i.e pension etc.

Cons

MFP was created predominately from the takeover over of Jelf Financial Planning (JFP). JFP was a well-regarded Wealth Management business, endorsed by client service accolades alongside an experienced and capable Adviser Team, many of whom were Chartered, underpinned by an effective and energetic Management and Support Team. Clients were genuinely front and center of the overall advice and service proposition. Since Mercer took over, it’s reasonable to say that the Financial Planning business has taken a major backwards step. The underlying reason has been poor management – harsh but fair. Most of the current Management are from the pre RDR world, with very limited technical knowledge & know how, which negatively impacts the business’s decisions & direction, but also their ability to deliver effective coaching and development. A significant number of the Advisers & Support Team members have chosen to leave the business over the last 3.5 years, c19 Advisers have left, with a similar number of experienced Support staff. Client Service has understandably suffered, Advisers regularly wait months for a financial report. Admin errors, mistakes and complaints are endless. The Client investment offering is due to take a major step back, with a new CIP effectively creating a ‘SJP’ style vertically integrated business, which will see Mercer Funds having to be recommended first and foremost due to the additional revenue earned from these funds alongside the advice fee. A CIP with such a restrictive approach is understandably a red line for most Adviser who want to ensure they can provide best advice for their clients. New Business targets & focus has increased considerably, driven by short term profit / NOI demands from the business, which has resulted in a perception that existing clients are secondary. Completing such new business targets will be ‘challenging’ given the headwind of Support issues. The remuneration scheme contains a significant ‘holdback’ element of 50%, which is subjective in its payment / release, and is heavily dependent on revenue results. Company obsession for NOI / EBIT is a likely harbinger for disaster MFP was created predominately from the takeover over of Jelf Financial Planning (JFP). JFP was a well-regarded Wealth Management business, endorsed by client service accolades alongside an experienced and capable Adviser Team, many of whom were Chartered, underpinned by an effective and energetic Management and Support Team. Clients were genuinely front and center of the overall advice and service proposition. Since Mercer took over, it’s reasonable to say that the Financial Planning business has taken a major backwards step. The underlying reason has been poor management – harsh but fair. Most of the current Management are from the pre RDR world, with very limited technical knowledge & know how, which negatively impacts the business’s decisions & direction, but also their ability to deliver effective coaching and development. A significant number of the Advisers & Support Team members have chosen to leave the business over the last 3.5 years, c19 Advisers have left, with a similar number of experienced Support staff. Client Service has understandably suffered, Advisers regularly wait months for a financial report. Admin errors, mistakes and complaints are endless. The Client investment offering is due to take a major step back, with a new CIP effectively creating a ‘SJP’ style vertically integrated business, which will see Mercer Funds having to be recommended first and foremost due to the additional revenue earned from these funds alongside the advice fee. A CIP with such a restrictive approach is understandably a red line for most Adviser who want to ensure they can provide best advice for their clients. New Business targets & focus has increased considerably, driven by short term profit / NOI demands from the business, which has resulted in a perception that existing clients are secondary. Completing such new business targets will be ‘challenging’ given the headwind of Support issues. The remuneration scheme contains a significant ‘holdback’ element of 50%, which is subjective in its payment / release, and is heavily dependent on revenue results.

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Mercer Response
6y
Mercer Colleague, We are sorry to read this feedback and recognise that it is important to listen to everyone’s views. Given the nature of your concerns, we would be very grateful if you would discuss further with your Business Leader. Many thanks.
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