Streamline your compensation cycles
Configure, collaborate, and manage your entire compensation cycle in one, always up to date, place.
Allocate your raise budget, your way
Whether you want to set increase targets per employee, distribute budgets directly to managers, or skip allocation and only share guidance – we can help you manage it.
Provide raise guidance to help managers make fair recommendations
Set merit and promotion raise guidelines for recommenders and approvers to reference during the cycle. Include additional raise factors (COLA, equity) and proration rules as needed.
Seamlessly collaborate with recommenders and approvers
No more passing around out-of-date spreadsheets. Everyone involved can input and approve adjustments in one place.
Plus, you can set custom approver hierarchies to match your structure.
Easily communicate adjustments and foster pay transparency
Once your cycle is closed, you can customize and share compensation statements via managers or directly to employees to inform them of changes.
Frequently Asked Questions
What is Compensation Cycle Management Software?
Compensation Cycle Management Software streamlines the entire compensation review process, allowing organizations to configure, collaborate, and manage compensation cycles in a centralized, always up-to-date platform.
How does Lattice's Compensation Cycle Management facilitate budget allocation?
Lattice enables organizations to set increase targets per employee, distribute budgets directly to managers, or provide raise guidance, ensuring flexibility in managing compensation allocations.
Can Lattice's platform provide raise guidance to managers?
Yes, Lattice allows organizations to set merit and promotion raise guidelines for recommenders and approvers to reference during the compensation cycle, including additional raise factors and proration rules as needed.
How does Lattice ensure seamless collaboration during compensation cycles?
Lattice eliminates the need for outdated spreadsheets by allowing all participants to input and approve adjustments within the platform. Custom approver hierarchies can be set to match the organization's structure, ensuring a smooth workflow.
What features does Lattice offer for communicating compensation adjustments?
Once a compensation cycle is closed, Lattice enables organizations to customize and share compensation statements via managers or directly to employees, fostering pay transparency and clear communication regarding compensation changes.
How does Lattice integrate performance data into compensation decisions?
Lattice connects performance review cycle results with compensation decisions, creating fair and equitable pay outcomes by aligning compensation with employee performance.
How does Lattice ensure data security within its Compensation Cycle Management platform?
Lattice employs robust security measures, including data encryption and access controls, to protect sensitive compensation information and ensure that only authorized personnel have access to the data. For more information on trust and security at Lattice see here.
Learn more about building a competitive compensation strategy
Your people are your business
Ensure both are successful with Lattice.