Lattice is a software company that offers a cloud-based employee performance management platform. The company is known for its easy-to-use and customizable software, which allows managers to set goals, track progress, and provide feedback to their employees. Lattice also offers a compensation management feature, which enables companies to design and manage their compensation plans in one place.

The Lattice compensation management feature allows managers to create and manage compensation plans for their employees. This includes setting base salaries, bonuses, and stock options, as well as tracking performance-based pay. The software also allows managers to set up different compensation plans for different levels of employees, such as executives, managers, and individual contributors.

One of the key benefits of Lattice’s compensation management feature is its ability to automate the process of setting and updating employee compensation. This eliminates the need for manual calculations and eliminates the risk of errors. The software also allows managers to set up rules and criteria for awarding bonuses and stock options, making it easy to ensure that everyone is being compensated fairly.

Another benefit of Lattice’s compensation management feature is its ability to link employee performance to compensation. This allows managers to set performance-based pay, such as bonuses and stock options, that are tied to specific goals and milestones. This helps to ensure that employees are motivated to achieve their goals and that the company is able to retain top talent.

Lattice’s compensation management feature also includes a reporting and analytics component. This allows managers to view and analyze data on employee compensation, including salaries, bonuses, and stock options. This data can be used to identify trends, such as which employees are being compensated the most, and to identify areas where the company may need to make changes to its compensation plans.

Overall, Lattice’s compensation management feature is a powerful tool for companies looking to manage and optimize their employee compensation plans. It allows managers to set, track, and adjust employee compensation in one place, while also linking performance to pay. This helps to ensure that everyone is being compensated fairly and that the company is able to retain top talent. Additionally, the reporting and analytics component allows managers to view and analyze data on employee compensation, which can be used to identify trends and make informed decisions about future compensation plans.