Demand to understand pay for digital skills across Europe is on the rise
LONDON, March 29, 2022 – More than two-thirds of organisations across Europe will prioritise offering more tailored rewards for workers who have skills that are critical to new and emerging work. That’s according to a new survey1 by WTW (Willis Towers Watson, NASDAQ: WTW), a leading global advisory, broking and solutions company.
Attracting and retaining key digital talent persists as a top challenge for organisations around the world. As a result, the scarcity of workers with critical digital skills is impacting the progress and digital maturity of many organisations.
The need to understand emerging skill trends and how they impact pay is becoming increasingly important for companies. According to WTW’s Artificial Intelligence and Digital Talent compensation survey report2 , only 15% of responding organisations in Europe believe they are fully prepared for digital transformation, while 9% have not taken any action on their digital transformation journey.
“A lack of quality market insights around digital skills has contributed towards how companies have been unable to address the industry-agnostic challenge of attracting digital talent. To design a competitive rewards package, companies need to have access to insights on the digital skills that are emerging - as well as those that are cooling off- and how they impact pay.” says Michiel Klompen, Digital Product Lead, Work & Rewards, WTW.
The launch of WTW’s SkillsVue – Europe software will enable organisations to have access to market-leading insights on digital skill premiums and prevalence trends across Europe. Companies are learning that the future of work requires a revolutionary approach to rewards, and that those who have access to quality data insights will have an advantage to win over the talent they need.
“The ongoing shortage of digital skills is pressing companies to take a different approach.”
Michiel Klompen
Digital Product Lead, Work & Rewards, WTW
Klompen says: “The ongoing shortage of digital skills is pressing companies to take a different approach. Those that choose a wait-and-see approach will likely continue facing their current recruitment struggles. So, companies must be able to offer a differentiated and competitive rewards package, which is best benchmarked with market-leading insights on skills available in SkillsVue – Europe.”
SkillsVue - Europe launches in April 2022.
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.
1 Reimagining Work and Rewards Survey
2 Artificial Intelligence and Digital Talent compensation survey
