• health
    从 Mercer 营收62亿美元的财报反推 2026 年 HR 预算走向:钱会先加在哪?又会先砍哪? 刚拆完 Mercer 2025 财报,数据非常有代表性:营收 61.9 亿美元、内生增长 4%,增长几乎全部来自福利和薪酬板块,组织发展反而负增长。基本等于提前剧透了 2026 年 HR 预算方向:控成本、保合规、重回报。做北美 HR 的一定要看看,很有启发。 在判断 2026 年 HR 预算趋势时,宏观判断、个人经验都不如一份“真实发生的财报”更有说服力。2025 年,Mercer 交出了一份非常典型、也非常值得 HR 深度解读的成绩单。它并不激进,却极其稳定;它没有讲太多愿景,却清楚地反映了企业 HR 真正愿意为哪些事情持续付费。 这份财报,几乎可以被视为 “北美企业 HR 预算结构的现实映射”。 一、Mercer 在 Marsh 体系中的位置,决定了它的风向意义 在 Marsh & McLennan 2025 年 约 270 亿美元的集团营收中,Mercer 全年营收 61.9 亿美元,占比约 23%,是 Consulting 板块中体量最大、现金流最稳定的业务。 如果说 Marsh Risk 代表的是企业的“外部风险管理”,那么 Mercer 则对应着企业的“内部人力与成本治理”。也正因为如此,Mercer 的营收变化,往往比单一 HRTech 公司更能反映 HR 支出的真实优先级。 二、先看整体:Mercer 的增长质量,而不是单纯增长数字 2025 年全年,Mercer 的关键指标是: ·全年营收:61.9 亿美元 ·GAAP 同比增长:8% ·内生增长(Underlying Revenue Growth):4% 第四季度(Q4 2025): ·单季营收:16.17 亿美元 ·GAAP 同比增长:9% ·内生增长:4% 对 HR 而言,最重要的不是“8% 或 9%”,而是 4% 的内生增长。 2025 年是一个全球 HR 咨询需求明显承压的年份。招聘、组织转型、文化项目普遍放缓。在这样的背景下,4% 的内生增长意味着:这不是靠并购或一次性项目拉动,而是 客户真实续约、持续加预算的结果。 三、拆 Mercer 三条业务线,看 HR 钱真正花在哪里 Mercer 在财报中披露了三大核心业务线:Wealth、Health、Career。虽然不公布各线绝对营收,但增长结构已经足够清晰。 1. Wealth:退休金、薪酬与长期激励,依然是 HR 的“刚性支出” Q4 2025 内生增长:+5% 全年内生增长:+4% 这一条线的稳定增长,反映的是几个现实问题: 北美企业正在同时面对薪酬透明、合规审查、退休金压力以及并购后激励整合的复杂挑战。薪酬与长期激励,已经不仅是“吸引人才”的工具,而是 财务、法律与治理问题的交汇点。 对 HR 来说,这类支出很难被简单砍掉,只能被要求“做得更精细、更可解释”。 2. Health:增长最快,且带有明显 CFO 逻辑 Q4 2025 内生增长:+6% 全年内生增长:+6%(三条线中最高) 这是 Mercer 2025 年最强的一条线,也是一条 典型的“非 HR 叙事型增长”。 推动 Health 增长的,不是员工体验口号,而是三个硬现实: 医疗成本持续上涨 Employer-sponsored benefits 成本失控 CFO 要求 HR 对福利支出承担解释责任 在很多北美企业中,Health 已经从“福利设计”升级为 成本控制 + 风险管理 + 数据决策 的综合议题。 3. Career:连续承压,释放出非常明确的信号 Q4 2025 内生增长:-2% 全年内生增长:-2% Career 覆盖组织发展、领导力、文化、变革管理等传统 HR 咨询领域。 负增长并不意味着这些事情不重要,而是说明它们具备三个特征: 可延后 可缩规模 可阶段性不上 在预算紧张环境下,这类项目往往最先被推迟。 四、从 Mercer 财报,反推 2026 年 HR 预算的真实优先级 基于上述结构,2026 年 HR 预算的走向其实已经非常清楚。 2026 年,最先加钱的方向 第一优先级,是 Health & Benefits 相关投入。凡是能帮助企业解释、控制、重构福利成本的方案,都会优先获得预算支持。 第二优先级,是 Compensation、Rewards、Retirement。薪酬透明、激励治理、长期激励合规,已经成为 HR 不可回避的责任区。 第三类,是与 钱、风险、合规强相关的 HRTech 与咨询能力,而不是“概念型工具”。 2026 年,最先被砍或延后的方向 首当其冲的,仍然是 大型 OD、文化与变革项目。不是因为它们无价值,而是因为在 CFO 视角下,它们 ROI 难以量化、周期过长。 同样会被谨慎对待的,还有纯“愿景型”“概念型”的 HR 项目,只讲意义、不讲结果。 五、给北美华人 HR 的一句结论 Mercer 的 2025 年财报,其实在用最直接的方式告诉我们一件事: HR 正在从“People & Culture 的叙事中心”,回到“People Risk 与 Cost Control 的执行中心”。 2026 年,谁能帮助企业 管住钱、管住风险、守住合规,谁就能拿到预算;而只停留在理念与愿景层面的 HR 工作,将持续承压。 这不是悲观,而是现实。也是北美华人 HR 在未来几年中,最需要正面面对的角色转型方向。
    health
    2026年01月29日
  • health
    EEOC Issues Final Regulation on Pregnant Workers Fairness Act 美国平等就业机会委员会(EEOC)发布了《怀孕工作者公平法案》(PWFA)的最终规则,该规则自2023年6月27日生效,要求15名以上员工的雇主为怀孕、分娩或相关医疗条件的员工提供合理的工作调整,除非这种调整给雇主带来过大困难。此规则进一步加强了1964年民权法案和美国残疾人法案下的保护措施,提供了关于合理调整、雇主责任及孕期工作者权利的更清晰指导。 Aids Implementation of Civil Rights Law Expanding Protections and Accommodations for Pregnant Workers WASHINGTON -- The U.S. Equal Employment Opportunity Commission (EEOC) today issued a final rule to implement the Pregnant Workers Fairness Act (PWFA), providing important clarity that will allow pregnant workers the ability to work and maintain a healthy pregnancy and help employers understand their duties under the law. The PWFA requires most employers with 15 or more employees to provide “reasonable accommodations,” or changes at work, for a worker’s known limitations related to pregnancy, childbirth, or related medical conditions, unless the accommodation will cause the employer an undue hardship. The PWFA builds upon existing protections against pregnancy discrimination under Title VII of the Civil Rights Act of 1964 and access to reasonable accommodations under the Americans with Disabilities Act. The EEOC began accepting charges of discrimination on June 27, 2023, the day on which the PWFA became effective. The final rule will be published in the Federal Register on Apr. 19. The final rule was approved by majority vote of the Commission on Apr. 3, 2024, and becomes effective 60 days after publication in the Federal Register. The final rule and its accompanying interpretative guidance reflect the EEOC’s deliberation and response to the approximately 100,000 public comments received on the Notice of Proposed Rulemaking. It provides clarity to employers and workers about who is covered, the types of limitations and medical conditions covered, how individuals can request reasonable accommodations, and numerous concrete examples. “The Pregnant Workers Fairness Act is a win for workers, families, and our economy. It gives pregnant workers clear access to reasonable accommodations that will allow them to keep doing their jobs safely and effectively, free from discrimination and retaliation,” said EEOC Chair Charlotte A. Burrows. “At the EEOC, we have assisted women who have experienced serious health risks and unimaginable loss simply because they could not access a reasonable accommodation on the job. This final rule provides important information and guidance to help employers meet their responsibilities, and to jobseekers and employees about their rights. It encourages employers and employees to communicate early and often, allowing them to identify and resolve issues in a timely manner.” Highlights from the final regulation include: ·       Numerous examples of reasonable accommodations such as additional breaks to drink water, eat, or use the restroom; a stool to sit on while working; time off for health care appointments; temporary reassignment; temporary suspension of certain job duties; telework; or time off to recover from childbirth or a miscarriage, among others. ·       Guidance regarding limitations and medical conditions for which employees or applicants may seek reasonable accommodation, including miscarriage or still birth; migraines; lactation; and pregnancy-related conditions that are episodic, such as morning sickness. This guidance is based on Congress’s PWFA statutory language, the EEOC’s longstanding definition of “pregnancy, childbirth, and related medical conditions” from Title VII of the Civil Rights Act of 1964, and court decisions interpreting the term “pregnancy, childbirth, or related medical conditions from Title VII. ·       Guidance encouraging early and frequent communication between employers and workers to raise and resolve requests for reasonable accommodation in a timely manner. ·       Clarification that an employer is not required to seek supporting documentation when an employee asks for a reasonable accommodation and should only do so when it is reasonable under the circumstances. ·       Explanation of when an accommodation would impose an undue hardship on an employer and its business. ·       Information on how employers may assert defenses or exemptions, including those based on religion, as early as possible in charge processing. More information about the PWFA and the EEOC’s final rule, including resources for employers and workers, is available on the EEOC’s “What You Should Know about the Pregnant Workers Fairness Act” webpage. For more information on pregnancy discrimination, please visit https://www.eeoc.gov/pregnancy-discrimination. The EEOC prevents and remedies unlawful employment discrimination and advances equal opportunity for all. More information is available at www.eeoc.gov. Stay connected with the latest EEOC news by subscribing to our email updates.
    health
    2024年04月19日