Why Talent Intelligence
A company’s compensation plan is like a giant, multifaceted puzzle. Different pieces combine to create a picture, outlining the various dynamics that make a company’s pay structure unique. The Radford Global Compensation Database (RGCD) outlines many of those compensation pieces, providing insight into how each element looks and how each unique part fits together. There are, however, a small number of pieces that can’t be defined by survey data. In the past, these missing pieces have left gaps in the compensation story, forcing companies to sometimes live with less than satisfactory results. To help companies see a complete compensation picture, Aon created Talent Intelligence, a tool that , provides data on jobs for areas that were previously inaccessible.
What is Talent Intelligence?
Talent Intelligence is a predictive pay tool that leverages the Pay Inference engine, an AI based model developed using machine learning. By examining the thousands of correlations between roles, locations, levels, and reported salaries in the RGCD, Pay Inference extrapolates a position's pay based on identified patterns and relationships. The result is a tool that uses 100% predictive modeling to generate pay levels, allowing users to see estimated salaries in areas or regions where the Aon survey is unable to provide data.
How does it work?
Once users enter a job and a location into those search fields, the tool generates an initial dashboard with a pay estimate for the chosen role for each available level. The job code will be displayed above the Job Title, and the user can select available job categories from the dropdown. To change job levels, use the slider.
The tool generates a 50th percentile estimate and offers a "Range" of pay, seen below the “Predicted Pay” number. As a predictive model, the tool is considered 90% accurate.
Below the salary estimates, the tool provides a Related Jobs and a Related Locations section. Related Jobs pulls down roles most closely associated with the chosen position, allowing users to investigate similar jobs and note any differences in pay.
If the user clicks on the Job Link, the tool will then pull that job into the main display. Similarly, if a user clicks on one of the “Related Locations” links, the tool will then display the salary for that role in that new location. To pull the info down to a computer, click the "Copy Predictions" button, and the data will be copied to the user's clipboard. Next, open a new spreadsheet and click "Paste".