NEW YORK--(BUSINESS WIRE)--
Mercer, a global consulting leader in advancing health, wealth, and careers, and a wholly-owned subsidiary of Marsh & McLennan Companies, Inc. (NYSE:MMC), and PayScale, the leading provider of compensation management software and real-time salary data, announced today that they have formed a strategic alliance to bring together Mercer’s expertise in compensation consulting and information products with PayScale’s strength in technology and data science to advance compensation data and software solutions for clients and the future workforce.
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In connection with this alliance, Mercer will secure an equity stake in PayScale, which has built the world’s largest crowdsourced database of salary profiles utilizing big data technologies. This investment builds upon the firm’s leading position in reward consulting and information and its recent launch of Mercer Digital to support clients as they transition to new models of work that are enabled by digital technologies. For PayScale, this relationship enhances the company’s portfolio and product capabilities with deeper consulting and data expertise to tailor solutions to customers’ needs. As Mercer will provide a global channel for distributing PayScale’s products, PayScale will provide a channel for Mercer’s products. Together, they will collaborate to develop new, innovative compensation and workforce data products and solutions.
“Our strategic alliance with PayScale is an ideal opportunity for Mercer to provide clients with new technology platforms as we help them transition to a digital future,” said Ilya Bonic, Senior Partner and President of Mercer’s Career business. “By investing in PayScale and serving on its Board, Mercer will have a front-line view of the most promising technologies as well as contribute to the development of new data products.”
“As we are called to serve the needs of larger and more complex global organizations, Mercer is the perfect partner to continue our mission to enable fair and transparent fact-based relationships between employees and employers,” said Mike Metzger, President and CEO of PayScale. “Getting compensation right is increasingly complex in today’s competitive talent market. We’re excited to team with Mercer to deliver exceptional software, data, and service and expand our business relationship in the future.”
Terms of the agreement were not disclosed.
About Mercer
Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and careers of their most vital asset – their people. Mercer’s more than 20,000 employees are based in 43 countries and the firm operates in over 140 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE:MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy and people. With annual revenue of more than $13 billion and more than 60,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Marsh, a leader in insurance broking and risk management; Guy Carpenter, a leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a leader in management consulting. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer.
About PayScale
PayScale offers modern compensation software and real-time, data driven insights for employees and employers alike. More than 6,000 customers, from small businesses to Fortune 500 companies, use PayScale to power pay decisions for more than 13 million employees. These companies include Dish Network, Getty Images, Skullcandy, Bloomberg BNA, and Time Warner. For more information, please visit: http://www.payscale.com or follow PayScale on Twitter: http://twitter.com/payscale.
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