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Lattice Compensation Benchmarking Powered byMercer offers companies the opportunity to access global data selected based on their specific parameters
LONDON, Dec. 1, 2022 /PRNewswire/ -- Lattice, the leading provider of people success software that empowers business leaders to build high-performing, engaged teams and inspire winning cultures, today announced that Mercer data Compensation Benchmark are now available through Lattice's new Compensation product. Mercer is the most trusted global consulting leader in redefining the world of work, reshaping investment and retirement outcomes, and unlocking real health and wellness.
In July, Lattice launched Lattice Compensation, a new product aimed at connecting performance and compensation to drive a more effective and transparent strategy around pay decisions that can have a critical impact on both management and talent retention. The alliance with Mercer represents a natural evolution in bringing new levels of efficiency, clarity and ease to a historically complex, error-prone and time-consuming process for HR teams.
Lattice Compensation Benchmarking Powered by Mercer offers companies of all sizes the opportunity to leverage global data curated based on their specific parameters, including company size, industry, geographic location, and specific job titles, to make informed and equitable payment decisions. Mercer data is integrated directly into the Lattice Compensation product, giving teams everything they need to develop and execute a smarter payment policy, all in one place. Mercer benchmarking data is included at no additional charge to existing 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 about the transparency of employee compensation: Lattice's research found that 65% of employees want more transparency from their company about pay practices, with more than half indicating that companies should disclose how much everyone in an organization is paid. To stay competitive while navigating an uncertain economic environment, companies will need to execute dynamic compensation strategies that allow them to be flexible and reward top performers, while including controls, guidance, and benchmarking that ensure compensation practices are equitable. , clear and based on data.
"The talent landscape is rapidly evolving and HR leaders must remain agile to attract and retain the best talent," said Dave Carhart, VP of Lattice's Advisory Services. "An effective compensation strategy is a critical driver of employee retention and engagement, and trends around distributed work and pay transparency coupled with market changes only add complexity to an already challenging process. Mercer-powered lattice compensation benchmarking enables companies of all sizes to create data-driven insights to create employee-centric pay strategies."
"In today's dynamic talent environment, companies need access to up-to-date, reliable, and well-sourced benchmark data to inform compensation planning and policies," said Michael Anderson, Workforce Analytics, global leader of career career products. Mercer. "Getting paid right is essential to being considered by top talent and retaining current employees. Lattice Compensation Benchmarking Powered by Mercer can provide companies with access to reliable benchmark data when, where and how it's needed to make hiring decisions." data-based compensation.
Learn more about Lattice Compensation at: https://lattice.com/compensation. You can also learn more about developing your compensation strategy here and in the Lattice library.
About Lattice
Lattice is the People Success platform that brings together all the tools, workflows, and insights to help organizations develop high-performing, engaged employees within a winning culture. By combining continuous performance management, employee engagement surveys, compensation management, and career development tools into one connected solution, Lattice is able to deliver powerful people analytics used by HR teams and people to drive results. shocking commercials. Ranked on Inc.'s 500 Fastest-Growing Private Companies list for three years in a row and rated a great place to work by 99% of its employees, Lattice serves more than 4,800 customers worldwide, including Slack , Monzo and Tide. Learn more by visiting: www.lattice.com.
About Mercer
Mercer believes in building brighter futures by redefining the world of work, reshaping investment and retirement outcomes, and unlocking real health and wellness. Mercer's approximately 25,000 employees are located in 43 countries and the company operates in 130 countries. Mercer is a company of Marsh McLennan (NYSE: MMC), the world's leading professional services firm in risk, strategy and people, with 86,000 colleagues and annual revenues of more than $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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