Global advisory, broking and solution firm Willis Towers Watson has launched a new product called SkillsVue, an interactive analytics platform enabling organisations to see the impact of skills on pay for digital talent.
It is built using compensation data from Willis Towers Watson’s artificial intelligence and digital talent compensation survey, and uses proprietary machine learning algorithms to analyse real-time skills data, and calculate the granular valuations of skills and their impact on pay.
Sambhav Rakyan, Global Business Leader, Data Services and Compensation Software, Willis Towers Watson, commented: "As skills become the make-or-break factor in sourcing digital talent, the competitive pay data delivered through traditional means need to be revised to include a hassle-free, skill-aware benchmarking experience that can be repeated year after year.
"SkillsVue equips organisations with key information needed to make skill-related compensation decisions efficiently and effectively."
It will be introduced to clients in Hong Kong, Singapore, United Kingdom and United States this year, with expansion to additional countries globally in 2020.
Shai Ganu, Managing Director, Rewards Business Leader, Asia Pacific, Willis Towers Watson, added: "Today, digital professionals who have skills in blockchain, artificial intelligence and mobile are receiving the highest salary premiums, with a median of around 15% of base salary.
Having a differentiated reward offering will send a signal to the digital talent that the employer recognises their potential and does not subscribe to a one-size-fits-all philosophy."
Using predictive intelligence, SkillsVue assesses the strength of market demand for individual skills which in-turn determine premiums for the digital skills that matter most.
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