The new offering will streamline compensation activities within a secure platform that incorporates performance and other employee data to enable more clearly defined, fair and performance based compensation strategies.
LONDON, July 19, 2022 / PRNewswire / – Lattice, a leading provider of employee success software that enables leaders to build committed, high-performance teams and nurture a thriving organizational culture, today announced the launch of Lattice Compensation, a new product offering dedicated to performance and reward to increase employee engagement and retention. Lattice Compensation will streamline payroll activities in a secure, centralized hub that seamlessly integrates employee performance data, giving employees greater clarity and transparency in payroll decisions and empowering employers to make fairer decisions.
“When it comes to talent management and employee retention, compensation has always been an important part of the bigger picture,” he says Cara Brennan Allamano, Chief People Officer at Lattice. “At Lattice, we strive to help our clients create people-centered, holistic human strategies – and Lattice Compensation is a natural advancement in this mission, bringing a new level of efficiency, clarity and simplicity to a historically complex, error-prone and labor-intensive task. intensive process for HR teams. “brings.”
The confluence of several factors – including changes in the labor market, increasing labor distribution, and rising inflation – leads to expectations have changed employees to payroll transparency, while companies continue to focus on effective employee payroll administration. To remain competitive in an uncertain economic environment, companies need to implement dynamic compensation strategies that allow them to be flexible and reward high-performers, while incorporating controls and guidelines that ensure that compensation practices are fair, clear, and backed by data.
Lattice Compensation helps HR teams eliminate manual processes and complicated spreadsheets. By streamlining the setup and running of pay cycles, and by creating accountable workflows that seamlessly use performance data, pay decisions become fairer and more data-driven than ever. In addition, organizations, teams, and leaders can establish compensation policies based on performance reviews, compensation metrics, and more, ensuring greater transparency and consistency across the organization.
“Our previous compensation process was largely manual and laborious, with sensitive information being distributed across multiple platforms and spreadsheets,” he said. Bill Haig, Vice President of Operations, GoodUnited. “Lattice Compensation delivered a best-in-class solution that consolidated all our processes in one place and incorporated employee performance data to create a structure that provides more clarity and transparency around pay cycles.”
By consolidating data on company salary grades, team budgets and more into one intuitive tool, Lattice Compensation provides team managers and leaders with the information they need to make and communicate payroll decisions transparently, which becomes more important for employees in the new world of work .
Operating within the Lattice platform, Lattice Compensation aims to directly retrieve relevant data, provides clear links between employee performance and remuneration, and enables a holistic approach to personnel strategy.
“Trellis compensation as part of the overall grating tool product really holds it all together,” he says Dan SmolkinHR operations manager in Aurora borealis. “When we talk about employee travel through the company, being able to include salary as another part of the product really helps to explain things.”
Find out more about Lattice’s new compensation product and join the Early Access Program here Hi. To learn more about how to develop your compensation strategy, click here here or check out Lattice library after.
Lattice is a People Success platform that brings together all the tools, workflows, and data that help business leaders develop committed, high-performing employees and a thriving culture. By combining continuous performance management, goal setting, employee engagement, compensation management, career development, and human resources analytics in one solution, Lattice helps HR, HR, and operational teams develop insights that lead to an enviable organizational culture and drive effective business outcomes. Lattice has been named one of Inc.’s 500 Fastest Growing Private Companies two years in a row, and 99% of its employees have named it “Great Place to Work”. Lattice serves more than 4,450 customers worldwide, including Slack, Monzo and Tide. Learn More About Lattice can be found at: www.lattice.com.
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