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 modelling to evaluate market demand for skills and highlight the importance of a given skill and its availability in the labour market.

 

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


How does Skills Pricer work?


Skills Pricer uses predictive modelling and multiple data sources to show you supply and demand for specific skills and help you understand trends.

Backed by powerful compensation insights and advanced analytics, Skills Pricer makes acquisition, retention, compensation and development simple and targeted.

Working through the data and statistical model, Skills Pricer provides a viewpoint on the criticality and scarcity of each skill to each job.



Skills Pricer in three steps


  1. Draws on Mercer’s comprehensive Skills Library to map jobs to the skills that comprise them
  2. Maps the value for each skill by combining criticality and market availability data
  3. Delivers output data sets to an interactive web-based dashboard



Skills Pricer in action


  1. Search via keywords and select job
  2. View market base pay and skills scarcity information
  3. Rank skills by their impact on salary
  4. Gain insights into impact of skills on compensation



Why use Skills Pricer?


  • Make informed pay review decisions and shape your strategy for attracting and retaining talent. Understand the supply of and demand for key skills, and see the relevance and impact of specific skills on pay at the job level.
  • Instantly aggregate data from multiple sources to generate market-informed compensation recommendations.
  • Prepare your organization for the Future of Work by accessing tools and data to unlock pay-for-skills.


Skills Pricer: Sample use cases


Understanding the value of skills is essential in talent management processes:

 

  • Recruiting can review market demand and supply to adjust offers for candidates who exhibit critical skills.
  • Retention teams can review data on skills to determine bonuses.
  • Compensation teams can use the data to consider pay adjustments for certain roles to ensure competitive pay plans.

Connect with our experts to find out more