Challenges       |       Skills Library       |       Skills Pricer       |       Skills Pay Planner       |       Insights       



Only 14% of organizations have implemented skills-based talent strategies such as pay-for-skills or a skills framework

Challenges

 

  • Uncertainty about what to pay for critical skills
  • Low transparency and lack of control for employees trying to manage their career progression
  • Difficulty making pay decisions aligned to skills, talent scarcity and performance
  • Inability to respond to the changes in the value of skills



The approach to compensation is evolving in the workplace:

 
  • Agile workforce management is increasing the need to identify, keep and move high-demand skilled talent
  • COVID-19 landscape demands efficiency and retention strategies for critical talent
  • Digital and tech skills, and gig workers are becoming more prevalent

To secure top talent without overpaying, companies need a better understanding of demand and competitive rates. A skills-driven approach can help future-proof businesses.

 

Learn how our pay-for-skills solutions equip your organization with the skills to succeed:

Mercer Skills-Edge Suite of offerings to help you advance pay-for-skills in your organization:

Skills Library

Lay the groundwork for skills-based decision making

Skills Pricer

Determine which skills are most valuable to your organization

Skills Pay Planner

Reinvent your rewards program with pay-for-skills



Skills Library

Lay the groundwork for skills-based decision making

Do you have the skills you need to succeed? Are you looking to understand your skills requirements and current bench strength? Our Skills Library offers a skills taxonomy based on market data, curated by Mercer and mapped to the Mercer Job Library. Create a skills adoption roadmap, align your organization to it, and identify and map the highest-priority skills needed to succeed in the future.

 

Don’t waste time digging through data or trying to create your own custom taxonomy. Skills Library maps 3,000 unique skills to over 4,700 jobs in our Jobs Library, making it the fastest way for Mercer Job Library customers to incorporate skills into their strategy. Not a Mercer Jobs Library client? No worries, we’ll match your jobs to our Library in no time to get you started quickly.

 

The skills included in the Skills Library span a variety of traditional categories such as: competencies, qualifications, certifications, hard and soft skills, as well as regionally specific needs. By including all these under the skills umbrella, clients can define roles by the critical needs to succeed in the job.

 


Skills Pricer

Determine which skills are most valuable to your organization

Skills Pricer is a self-service web application that shows which skills are influencing the pay of a selected job. Through this skills-based market approach, you can determine which skills are most valuable to your organization in attracting and retaining in-demand talent.

 

Our interactive platform lets you explore the impact of skills on pay. Skills Pricer uses predictive modeling to evaluate market demand for skills and highlight emerging or declining skills.

 

Mercer’s proprietary algorithm leverages our Total Remuneration Surveys, the world’s most robust salary data source, to provide guidance on which skills are most valuable to your organization when rewarding, attracting, retaining or upskilling talent.

 


Skills Pay Planner

Reinvent your rewards program with pay-for-skills

Skills Pay Planner is an AI-driven tool that arms your organization with intelligent pay recommendations for individual employees. It helps you understand the premiums associated with certain skills, so you can make informed decisions during compensation planning reviews — to improve retention strategies and avoid the loss of valuable skills and prevent your most critical talent from becoming a flight risk.

 

Skills Pay Planner provides AI-driven pay suggestions that help ease decisions about how to reward your employees. Using an algorithm that learns from your company data, Skills Pay Planner allows you to automate the pay recommendation process while eliminating individual bias in your pay philosophy.

 

Skills Pay Planner gives you the control to make pay recommendations that fit within your budget. We work with you to fine-tune your results, using your data to meet your business strategy. The system can be also configured without skills in the equation, using prior historical data and current ranking systems to drive decisions.

 



Connect with our experts to find out more or request a demo