Lattice Compensation Benchmarking Powered by
Mercer offers companies the opportunity to tap into global, curated
data based on their specific parameters.
SAN
FRANCISCO, Nov. 30, 2022 /PRNewswire/ -- Lattice, the
leading provider of people success software that empowers business
leaders to build engaged and high-performing teams and inspire
winning cultures, today announced that Mercer Compensation
Benchmark data is now available through Lattice's new Compensation
product. Mercer is a most trusted global consulting leader in
redefining the world of work, reshaping retirement and investment
outcomes, and unlocking real health and well-being.
Lattice Compensation offers companies the
ability to tap into global data based on needs to make equitable
pay decisions
In July, Lattice launched Lattice Compensation, a new product
aimed at connecting performance and compensation to drive more
effective strategy and transparency around pay decisions that can
have a critical impact on both talent management and retention. The
alliance with Mercer represents a natural evolution by offering new
levels of efficiency, clarity, and ease to a historically complex,
error-prone, and labor-intensive process for HR teams.
Lattice Compensation Benchmarking Powered by Mercer offers
companies of all sizes the opportunity to tap into global, curated
data based on their specific parameters, which include company
size, industry, geographical location, and specific job titles, to
make informed and equitable pay decisions. Mercer's data is
integrated directly into the Lattice Compensation product, giving
teams everything they need to develop and execute smarter pay
policy all in one place. Mercer benchmarking data is included at no
additional charge for current Lattice Compensation customers.
A convergence of factors – including a shift in the labor
market, increasingly distributed workforces, rising inflation, and
legislative changes – are driving a significant shift in
expectations around compensation transparency from employees:
Lattice research found that 65% of employees want more transparency
from their companies about pay practices, and over half said
that companies should disclose how much everyone at an organization
is paid. To stay competitive while navigating an uncertain economic
environment, companies will need to execute dynamic compensation
strategies that enable them to be flexible and reward top
performers, while also including checks, guidance, and benchmarking
that ensure compensation practices are equitable, clear, and
data-driven.
"The talent landscape is quickly evolving and HR leaders need to
remain agile to attract and retain top talent," said Dave Carhart, VP of Lattice's Advisory Services.
"An effective compensation strategy is such a critical driver of
employee retention and engagement, and the trends around
distributed work and pay transparency alongside market shifts are
only adding complexity to an already challenging process. Lattice
Compensation Benchmarking Powered by Mercer enables companies of
all sizes to build data-informed insights to make employee-centric
pay strategies."
"In today's dynamic talent environment, companies need access to
fresh, well-sourced, and trusted benchmark data to inform
compensation planning and policies," said Michael Anderson, Workforce Analytics, Global
Career Product Leader, Mercer. "Getting pay right is
essential to being considered by top talent and to retain current
employees. Lattice Compensation Benchmarking Powered by
Mercer can provide companies with access to trusted benchmark data
when, where, and how it's needed for data-informed compensation
decisions."
Learn more about Lattice Compensation at:
https://lattice.com/compensation. You can also learn more about how
to evolve your compensation strategy here and in the Lattice
library.
About Lattice
Lattice is the People Success Platform that brings together all
of the tools, workflows, and insights to help organizations develop
engaged and high-performing employees within a winning culture. By
combining continuous performance management, employee engagement
surveys, compensation management, and career development tools into
one connected solution, Lattice can deliver powerful people
analytics used by HR and People teams to drive impactful business
outcomes. Ranked on the Inc. 500 Fastest-Growing Private Companies
list three years in a row and rated as a Great Place to Work by 99%
of its employees, Lattice serves over 4,800 customers worldwide,
including Slack, Solera Health, and the Los Angeles Dodgers. Learn
more by visiting: www.lattice.com.
About Mercer
Mercer believes in building brighter futures by redefining the
world of work, reshaping retirement and investment outcomes, and
unlocking real health and well-being. Mercer's approximately 25,000
employees are based in 43 countries and the firm operates in 130
countries. Mercer is a business of Marsh McLennan (NYSE: MMC), the
world's leading professional services firm in the areas of risk,
strategy and people, with 86,000 colleagues and annual revenue of
over $20 billion. Through its
market-leading businesses including Marsh, Guy Carpenter and Oliver
Wyman, Marsh McLennan helps clients navigate an increasingly
dynamic and complex environment. For more information, visit
mercer.com.
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SOURCE Lattice