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Mercer is a human resource and related financial services consulting firm, headquartered in New York City. The firm operates internationally in more than 40 countries, with about 18,000 employees, and is the world's largest human resource consulting firm.
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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. Recently in 2007, the company became simply "Mercer." Currently, Mercer is the world's largest human resource consulting firm.
It has been ranked by Vault.com, Inc. as the #1 human resource consultancy for several years running, including most recently in 2008. Among all consulting firms, Mercer is currently ranked #6 for prestige.
Mercer's major competitors include Towers Watson, Buck Consultants, Hewitt Associates, and Hay Group.
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.