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Mercer Skills Library allows you to take the first step towards incorporating skills in your talent and reward strategies without digging through data and creating your own custom taxonomy.
Reward the critical skills that are driving impact in your organization.
Understand which skills influence the pay of a selected job and assign value to those skills using a self-service web application.
- Ready to use and quick to implement
- Leverages Mercer’s world-leading salary data alongside dynamic skill demand data
- Fully compatible with Mercer’s other products based on our Job Library (JAT, TRS)
Leading organizations use Mercer Skills Pricer when rewarding, attracting, retaining and upskilling talent to identify the most valuable skills and their monetary value. Here’s why:
- Machine learning leverages world-leading data sources to determine which crucial skills drive pay premiums, assign value for each skill and quantify skill relevance for a job.
- Curated by rewards experts using advanced analytics, Skills Pricer delivers reliable data to use in talent acquisition, retention, compensation and development strategies.
- Provides a viewpoint on the market demand and importance of each skill to each job.
Product details
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Use Mercer Skills Pricer to:
Attract and retain key talent by using skill premium information to drive pay review decisions
Understand the potential impact of incorporating skills before factoring them into your total rewards strategy
Implement simple, best-practice processes that introduce managers and HR professionals to skills as a decision factor
Skills Pricer helps you in three steps
- Draws on the comprehensive Mercer Skills Library to map globally-consistent skills that drive pay to jobs
- Maps the premium for each skill by combining criticality and market data
- Delivers dynamic data sets to an interactive web-based dashboard
What can you do with Skills Pricer
- Search via job or skill keyword and select job
- View market base pay and skills value information
- Adjust which skills are included based on your organization’s unique roles or individuals
- Gain insights into the impact your curated skill profile has on pay
Drive benefits for your HR functions:
Compensation
For compensation specialists looking to optimize their budget, Skills Pricer allow you to match skills to jobs for better, more productive employee placements. When you have the right skills in the right positions, teams can be more productive and save you money. Unlike other solutions, our skills are already curated and mapped to the Mercer Job Library to simplify the process of onboarding skills to your jobs. Compensation teams can use the data to ensure competitive pay plans and retention of key talent via skills-based pay adjustments and bonuses.
Learning & Development (L&D)
For L&D professionals seeking to create and recommend learning opportunities, Mercer’s entire Skills-Edge Suite lets you focus learning on skills, which can have more impact on your company and individual employees. Unlike other solutions, the Skills-Edge Suite provides a foundation for skill gap analyses which help you identify which segments of the workforce to focus on.
Talent Management
For Talent Managers who must attract and retain top talent, Mercer’s Skills-Edge Suite allow you to focus on key skills, not just job descriptions. Unlike other solutions, not only can you focus your search on skills, but you can also access more data on trending and high demand skills. A transparent, skills-driven culture allows you to get the right people in the door and retain them, so you don’t have to fill the same spots over and over. Recruiters can review pay premiums, market demand, and skill relevance to adjust offers for candidates who exhibit critical skills.
Workforce Planning
For workforce transformation specialists looking to future-proof their organizations, Mercer’s Skills-Edge Suite highlights what skills to focus on in your workforce. Unlike others, we provide data which allows an understanding of which employee segments should be the focus of upskilling efforts – delivering a more cost-effective way to prepare for the future. HR teams can evolve foundational job architecture and career paths to include skills and enable a more flexible talent marketplace.
HR Business Partners (HRBPs)
For HRBPs who need to retain top talent and create an engaging company culture, Mercer’s Skills-Edge Suite enables you to create a skills-based culture that drives engagement throughout the company. We provide offerings across the entire talent management lifecycle to give you the most holistic approach to skills.