March 2024 Product Updates: Informed Comp Conversations, Engagement Benchmarks, and More

Innovation is at the heart of everything we do at Lattice. In our Spring 2024 Release, we unveiled a variety of upcoming features, including AI-Powered Engagement Insights — empowering teams to automatically synthesize open-ended survey comments and identify recurring themes and trends.

But our dedication to innovation isn’t limited to big seasonal launches. We’re committed to equipping HR leaders with tools to excel, empower managers, and drive strategic decision-making year-round. This month, we’re sharing new updates — enabling you to make the most of your people data, optimize compensation cycles, and foster employee growth.

Improved Compensation Cycle Management

Compensation admins need dynamic tools to meet their companies’ unique needs and processes. We’ve introduced enhancements to help admins manage their compensation cycles more effectively.

• Clarify compensation budget distribution: When setting up your compensation cycle, you can now get more precise about allocating budgets to different teams. Rather than only distributing compensation budgets to department heads, you can allocate specific amounts to anyone included as a recommender or approver within the cycle. Each manager involved in compensation decisions will have visibility into the department budget and what’s allocated for their team.
  
• Check progress and send reminders: Gone are the days of chasing down managers for compensation recommendations. You can easily view submission progress via the executive dashboard and send reminders to those with outstanding tasks.

• Empower direct managers to have effective comp conversations: When it’s time to distribute compensation statements, you can now share them with direct managers first — even if they weren’t the compensation recommender. Managers will then be notified that the statement is ready to be viewed and shared with their employees, empowering them to have pay discussions even if they weren’t directly involved.
  

Updated Benchmarks and AI-Powered Engagement Insights

Engagement surveys are one of the best opportunities for people leaders to collect candid employee feedback. We’re making it easier for you to understand and act on that information with refreshed data, additional benchmarks, and Lattice AI. 

• Compare your results against new benchmarks: While self-benchmarking is crucial for tracking personal improvement, visibility into broader market benchmarks offers a reality check. We’ve refreshed our engagement survey benchmarks so you can compare your survey results against the most up-to-date industry averages. We’ve added five new benchmarks for financial services, retail, media, and healthcare. You’ll also find benchmarks from Canadian businesses.
  
• Instantly summarize your survey comments: Our newest Lattice AI capability automatically synthesizes engagement survey comments to deliver key trends, summaries, and recommendations on how to take action. Learn more about our vision for Lattice AI. 

More Control Over Your Data  

We understand the importance of maintaining the right level of data access across your organization. That's why we're excited to introduce field-level permissions (FLP), an enhanced framework designed to offer more granular authorization checks for employee data.

• Streamline HR operations with detailed permissions: FLP allows admins to specify exactly who can access and modify specific employee fields, bolstering data security and integrity. With FLP, admins wield greater control over data access, moving beyond broad visibility settings like “admins only” or “managers only.”
  
• Gain additional clarity with calibration exports: We’ve updated our performance calibration CSV exports, including new columns for the x-axis, y-axis, and box name. Additionally, users can export attributes added to the calibration table. This enables customers to extract more data from calibration sessions and facilitate deeper analysis. For instance, utilizing an employee's 9-box placement as input into promotion or compensation decisions becomes seamless and efficient.

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We’re committed to helping you build a high-performing culture with innovative talent management tools. These are just a few of our recent features built to help you elevate your people strategy and your team’s efficiency. 

Learn more about these features by logging into your Lattice platform or contacting your Relationship Manager.

Not a Lattice customer? Request a demo to discover how Lattice's new and existing features can help uplevel your company's HR strategy.