Mercer Skills Edge solution

Attract and retain critical skills by advancing pay-for-skills

Product Highlights

Lay the groundwork for skills-based decision making.

Skills Library is a skills taxonomy that is based on market data, curated by Mercer, and mapped to the Mercer Job Library. Knowing what skills your organization will focus on is the first step in using skills data to support your organization’s strategy.

Do you have the skills you need to succeed? Are you looking to understand your skills requirements and current bench strength? Create a skills adoption roadmap, align your organization to it, and identify and map the highest priority skills needed to succeed in the future. The Skills Library helps your organization in multiple ways, including building up skills on current roles that can lead to insights on employee career paths and reskilling opportunities.

How does Skills Library work?

  • Skills Library maps over 4,000 unique skills to over 10,000 jobs in our Mercer Job Library.
  • Raw skills data are obtained via large-scale data collection efforts that target millions of online job profiles/descriptions.
  • The Skills Library enables you to quickly overlay a detailed, structured and fully curated skills taxonomy onto all of your jobs.
  • Routinely updated throughout the year, we add new and emerging skills, modifying existing skills, and removing obsolete skills within the Skills Library.

What’s included?

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 are structured in two Mercer Job Library arrangements that are orientated around type of work and organizational level: Job and Specialization plus Career Stream.

Leverage the Mercer Skills Library data and insights to map skills and related proficiencies directly to your jobs.

This workflow-driven solution enables the rapid creation, review, and approval of a unique skills taxonomy aligned to your jobs, leveraging the Mercer Skills Library’s vast set of curated data while remaining flexible enough to allow you to create your own unique skills.

Upload your jobs, explore recommended job matches, map related skill data, and then tailor skills and proficiency levels according to your organization’s unique business needs and priorities, all through workflow-driven review and approval.

How does Skills Map work?

  • Quickly map your jobs to Mercer Skills Library using a proprietary Artificial Intelligence matching algorithm to establish a baseline of skills
  • Optionally assign an ideal proficiency level to each skill mapped to your job
  • Export jobs with validated skills and utilize in your HR tech stack to elevate your skills-centric organization strategies
  • Customize skills for your organization
  • Validate, refine, and adjust the skills mapped to your unique organization structure

What’s included?

Skills Map is a workflow solution, underpinned by the Mercer Skills Library, that empowers you to quickly map skills and related proficiency levels to your jobs, share with other users in your organization for review and approval, then export the final skill-to-job configurations to enable skills-centric initiatives within your organization.

Reward the critical skills that are driving impact in your organization.

This self-service web application reports which skills influence the pay of a selected job. Through this skills-based approach to the market, you can determine which skills are most valuable to your organization in attracting and retaining in-demand talent. Our interactive platform facilitates the exploration of how critical skills impact pay.

Mercer’s proprietary algorithm uses our Total Remuneration Surveys, the world’s most robust salary data source, alongside real-time labor demand data to provide pricing and guidance on which skills are most valuable to your organization when rewarding, attracting, retaining, and upskilling talent.

How does Skills Pricer work?

  • Skills Pricer uses proprietary modelling coupled with industry-leading data sources to analyze which crucial skills drive pay, the value for each skill, and relevance and demand information for each job.
  • Skills Pricer provides a viewpoint on the relevance and value of each skill to each job.
  • Human-curated by rewards experts and utilizing advanced analytics, Skills Pricer enables reliable and respected data to use in acquisition, retention, compensation, and development strategies.

Skills Pricer in three steps

  1. Draws on the comprehensive Mercer Skills Library to map globally consistent jobs to the skills that drive pay
  2. Maps the premium for each skill by combining criticality and market data
  3. Delivers dynamic data sets to an interactive web-based dashboard

Reinvent your rewards program with pay-for-skills.

This AI-driven tool is designed to equip organizations with intelligent pay at the employee level — based on business strategy — combining skill scarcity and business criticality, along with other business-related employee performance data.

Skills Pay Planner enables you to incorporate understanding of premiums of certain skills into your annual compensation planning review to prevent your most valuable skills from falling behind the market and becoming a flight risk.

How does Skills Pay Planner work?

Skills Pay Planner generates intelligent automated pay recommendations by integrating company, employee, and external benchmark data with your unique business strategy via a predictive machine-learning algorithm. Skill needs within the organization, the difficulty to obtain those skills, employee base pay competitiveness, performance, career potential, and even retention risk are all reflected in salary increase recommendations.

The machine-learning model looks at each individual’s past performance rating and other metrics such as base-pay competitiveness. The model requires inputs that inform it about skills that are a priority for the business and desired investment levels.

Skills Pay Planner in 3 steps:

  1. Combines business strategy and company data
  2. Runs a predictive machine-learning algorithm
  3. Makes pay suggestions at the employee-level

Get started today by requesting a demo.

Individuals or companies using Mercer data for consulting services or commercial purposes are subject to different rates.

Please contact us if you have any questions.

  • IsOrderingSetNo
  • Ordering TypeCOL/QOL
  • Enable ParticipationTurn off
  • Participation Start Date10/05/2022
  • Participation End Date10/11/2022
  • RegionUS
  • Sub TitleAttract and retain critical skills by advancing pay-for-skills
  • Short DescriptionAttract and retain critical skills by advancing pay-for-skills within your organization.
  • Product Survey HeadingSkills-Edge Suite
  • Enable WidgetsNo

Product Highlights

Lay the groundwork for skills-based decision making.

Skills Library is a skills taxonomy that is based on market data, curated by Mercer, and mapped to the Mercer Job Library. Knowing what skills your organization will focus on is the first step in using skills data to support your organization’s strategy.

Do you have the skills you need to succeed? Are you looking to understand your skills requirements and current bench strength? Create a skills adoption roadmap, align your organization to it, and identify and map the highest priority skills needed to succeed in the future. The Skills Library helps your organization in multiple ways, including building up skills on current roles that can lead to insights on employee career paths and reskilling opportunities.

How does Skills Library work?

  • Skills Library maps over 4,000 unique skills to over 10,000 jobs in our Mercer Job Library.
  • Raw skills data are obtained via large-scale data collection efforts that target millions of online job profiles/descriptions.
  • The Skills Library enables you to quickly overlay a detailed, structured and fully curated skills taxonomy onto all of your jobs.
  • Routinely updated throughout the year, we add new and emerging skills, modifying existing skills, and removing obsolete skills within the Skills Library.

What’s included?

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 are structured in two Mercer Job Library arrangements that are orientated around type of work and organizational level: Job and Specialization plus Career Stream.

Leverage the Mercer Skills Library data and insights to map skills and related proficiencies directly to your jobs.

This workflow-driven solution enables the rapid creation, review, and approval of a unique skills taxonomy aligned to your jobs, leveraging the Mercer Skills Library’s vast set of curated data while remaining flexible enough to allow you to create your own unique skills.

Upload your jobs, explore recommended job matches, map related skill data, and then tailor skills and proficiency levels according to your organization’s unique business needs and priorities, all through workflow-driven review and approval.

How does Skills Map work?

  • Quickly map your jobs to Mercer Skills Library using a proprietary Artificial Intelligence matching algorithm to establish a baseline of skills
  • Optionally assign an ideal proficiency level to each skill mapped to your job
  • Export jobs with validated skills and utilize in your HR tech stack to elevate your skills-centric organization strategies
  • Customize skills for your organization
  • Validate, refine, and adjust the skills mapped to your unique organization structure

What’s included?

Skills Map is a workflow solution, underpinned by the Mercer Skills Library, that empowers you to quickly map skills and related proficiency levels to your jobs, share with other users in your organization for review and approval, then export the final skill-to-job configurations to enable skills-centric initiatives within your organization.

Reward the critical skills that are driving impact in your organization.

This self-service web application reports which skills influence the pay of a selected job. Through this skills-based approach to the market, you can determine which skills are most valuable to your organization in attracting and retaining in-demand talent. Our interactive platform facilitates the exploration of how critical skills impact pay.

Mercer’s proprietary algorithm uses our Total Remuneration Surveys, the world’s most robust salary data source, alongside real-time labor demand data to provide pricing and guidance on which skills are most valuable to your organization when rewarding, attracting, retaining, and upskilling talent.

How does Skills Pricer work?

  • Skills Pricer uses proprietary modelling coupled with industry-leading data sources to analyze which crucial skills drive pay, the value for each skill, and relevance and demand information for each job.
  • Skills Pricer provides a viewpoint on the relevance and value of each skill to each job.
  • Human-curated by rewards experts and utilizing advanced analytics, Skills Pricer enables reliable and respected data to use in acquisition, retention, compensation, and development strategies.

Skills Pricer in three steps

  1. Draws on the comprehensive Mercer Skills Library to map globally consistent jobs to the skills that drive pay
  2. Maps the premium for each skill by combining criticality and market data
  3. Delivers dynamic data sets to an interactive web-based dashboard

Reinvent your rewards program with pay-for-skills.

This AI-driven tool is designed to equip organizations with intelligent pay at the employee level — based on business strategy — combining skill scarcity and business criticality, along with other business-related employee performance data.

Skills Pay Planner enables you to incorporate understanding of premiums of certain skills into your annual compensation planning review to prevent your most valuable skills from falling behind the market and becoming a flight risk.

How does Skills Pay Planner work?

Skills Pay Planner generates intelligent automated pay recommendations by integrating company, employee, and external benchmark data with your unique business strategy via a predictive machine-learning algorithm. Skill needs within the organization, the difficulty to obtain those skills, employee base pay competitiveness, performance, career potential, and even retention risk are all reflected in salary increase recommendations.

The machine-learning model looks at each individual’s past performance rating and other metrics such as base-pay competitiveness. The model requires inputs that inform it about skills that are a priority for the business and desired investment levels.

Skills Pay Planner in 3 steps:

  1. Combines business strategy and company data
  2. Runs a predictive machine-learning algorithm
  3. Makes pay suggestions at the employee-level

Product Details

Only 8% of companies formally monitor supply and demand of skills

The skilled talent you need may be working for you today, but will they be there for you tomorrow? As industries develop and organizations change and grow, skill gaps appear and other skills become obsolete. To propel your organization forward, you need to fill those skill gaps efficiently, either through precise hiring or by redeploying or reskilling employees. Many organizations are finding it challenging to make timely decisions about whether to reskill, recruit, or outsource for a particular skill. While 80% of companies recognize that using skills-based approaches to rewards would afford them better retention of employees and 66% believe these approaches would help with attraction, only 8% of companies formally monitor supply and demand of skills. We can help.

Introducing Mercer Skills Edge solution

Mercer Skills Edge solution is an integrated service offering comprising consulting, technology, and data. The solution gives you the information and insight you need to advance skills-based talent and pay practices across your company.

Understand which skills you have and which skills you need

The flexible products within Mercer Skills Edge solution are best understood with an interactive demo. Schedule your demo today ! Here is a look at some of the different options available within the different offerings.

The data requirements vary for each product within Mercer Skills Edge solution. At a high-level the data requirements are:

 

Skills Library

Skills Map

Skills Pricer

Skills Pay Planner

Data Requirements

No data is required from you to use Skills Library.

Your job titles and a unique identifier for job or job grouping is required to use Skills Map. Optionally, you can include pre-existing matches of Mercer Job Codes to your jobs to obtain a baseline skill list.

No data is required from you to use Skills Pricer.

Certain employee data is required in order for Skills Pay Planner to provide skills-based rewards recommendations at the individual employee level.

Only 8% of companies formally monitor supply and demand of skills

The skilled talent you need may be working for you today, but will they be there for you tomorrow? As industries develop and organizations change and grow, skill gaps appear and other skills become obsolete. To propel your organization forward, you need to fill those skill gaps efficiently, either through precise hiring or by redeploying or reskilling employees. Many organizations are finding it challenging to make timely decisions about whether to reskill, recruit, or outsource for a particular skill. While 80% of companies recognize that using skills-based approaches to rewards would afford them better retention of employees and 66% believe these approaches would help with attraction, only 8% of companies formally monitor supply and demand of skills. We can help.

Introducing Mercer Skills Edge solution

Mercer Skills Edge solution is an integrated service offering comprising consulting, technology, and data. The solution gives you the information and insight you need to advance skills-based talent and pay practices across your company.

Understand which skills you have and which skills you need

The flexible products within Mercer Skills Edge solution are best understood with an interactive demo. Schedule your demo today ! Here is a look at some of the different options available within the different offerings.

The data requirements vary for each product within Mercer Skills Edge solution. At a high-level the data requirements are:

 

Skills Library

Skills Map

Skills Pricer

Skills Pay Planner

Data Requirements

No data is required from you to use Skills Library.

Your job titles and a unique identifier for job or job grouping is required to use Skills Map. Optionally, you can include pre-existing matches of Mercer Job Codes to your jobs to obtain a baseline skill list.

No data is required from you to use Skills Pricer.

Certain employee data is required in order for Skills Pay Planner to provide skills-based rewards recommendations at the individual employee level.
No

Frequently Asked Questions

You may also be interested in