Make data-driven compensation decisions
Access industry-leading benchmark data with Compensation Benchmarks.
Identify and retain top performers
Reduce turnover and hiring costs by using market data to ensure employees are paid competitively and equitably for their role, location, and industry.
Make better pay decisions in a fast-changing market
Accurate, real-time information helps you make data-driven budget decisions that support employees — ensuring equity, efficiency, and consistency across your business.
Reduce internal pay disparities
Empower your team to have transparent compensation conversations. Proactively see how your salaries will be perceived by employees, then put your best foot forward.
Frequently Asked Questions
What is compensation benchmarking software?
Compensation benchmarking software enables organizations to compare their compensation packages against industry standards, ensuring competitive and equitable pay for employees. This process involves analyzing market data to inform salary structures and compensation decisions.
How does Lattice's Compensation Benchmarking feature support fair pay practices?
Lattice's Compensation Benchmarking, powered by Mercer, provides access to an international compensation dataset with millions of records across over 90 countries and 150 cities. This extensive data allows organizations to make informed, equitable compensation decisions based on role, location, and industry standards.
What are the benefits of using Lattice's Compensation Benchmarking feature?
Utilizing Lattice's Compensation Benchmarking helps reduce turnover and hiring costs by ensuring employees are compensated competitively. It also aids in making data-driven budget decisions, promoting equity, efficiency, and consistency across the organization.
How can Lattice's Compensation Benchmarking assist in identifying internal pay disparities?
By providing accurate, real-time market data, Lattice's Compensation Benchmarking empowers organizations to proactively identify and address internal pay disparities, fostering transparent compensation conversations and promoting fairness.
How frequently is the benchmark data in Lattice's Compensation Benchmarking updated?
Lattice's Compensation Benchmarking, powered by Mercer, is updated annually to help organizations make data-driven compensation decisions that support employees and ensure equity.
Can Lattice's Compensation Benchmarking be customized to fit our company's specific needs?
Yes, Lattice's Compensation Benchmarking allows for customized filtering to align with your organization's unique roles, locations, and industry, ensuring that the compensation data is relevant and applicable.
How does Lattice ensure data security within its Compensation Benchmarking feature?
Lattice employs robust security measures, including data encryption and access controls, to protect sensitive compensation information and ensure that only authorized HR admins have access to the data.
Learn more about building a competitive compensation strategy
Your people are your business
Ensure both are successful with Lattice.