Pay is paramount.
For modern companies, a strong compensation strategy can be the secret to retaining top performers and remaining successful. The evidence here isn’t just anecdotal: according to a LinkedIn study, businesses rated highly on compensation also have 56% lower attrition rates.
But setting up (and sticking to) a strong compensation strategy can be challenging. After all, it’s no secret that the traditional compensation management process is frustratingly complex, error-prone, and labor-intensive.
At Lattice, we knew there had to be a better solution — so we built it.
Meet Lattice Compensation
Designed to empower efficiency and equitability, Lattice Compensation helps HR teams put manual processes on autopilot and easily manage every part of the compensation review process in a secure, centralized hub.
With Lattice Compensation, HR teams benefit from:
- Clear compensation guidelines. Create a unified set of compensation guidelines using performance ratings, compensation ratios, and more — empowering clarity and consistency across the entire company.
- Stronger collaboration and communication. Make compensation decisions more transparent and equitable for all. Our notes and review tools help managers, directors, and executives provide context about specific recommendations and actions.
- Streamlined workflows. Manage every part of the compensation review process in one centralized place — finally putting spreadsheet stress in the past.
Here’s what one early adopter had to say about Lattice Compensation:
“Our compensation process to date has been largely manual and labor-intensive, with sensitive information spread across multiple platforms and spreadsheets. Lattice Compensation offered a world-class solution that consolidated all of our processes into one place, pulling in employee performance data to create a structure that allows for increased clarity and transparency around compensation cycles.” — Bill Haig, Vice President of Operations at GoodUnited
More than Compensation
Taking a look into a new feature of Lattice Compensation: easily shareable employee compensation statements designed to encourage proactive, transparent communication.
Picture this: a top performer is promoted, only to wait…and wait…and wait…for an official document communicating their new compensation package. Meanwhile, HR is stuck shouldering the time-intensive task of manually creating compensation letters for multiple employees across the organization.
Not only is this scenario aggravating for everyone involved — it’s also incredibly common. We knew there had to be a more efficient way of documenting and communicating employee compensation changes and promotions. And now it’s here.
Built to make your life easier, our employee compensation statements help managers communicate compensation changes in real time. No more wishy washy conversations with direct reports while waiting for letters to be drafted — and no more employee confusion about what’s coming next.
Now, managers can have meaningful comp conversations in a timely manner, equipped with all the data their reports care about seeing most.
Try Lattice Compensation today
Ready to make your compensation management process more efficient, equitable, and effective than ever before? Schedule a demo