Lattice • 2024

Compensation statements

Redesigning the compensation statement experience to give admins more flexibility, confidence, and visibility.

Overview

What are compensation statements?

Compensation statements are documents shared with employees to explain pay changes during a review cycle. For most companies, these review cycles happen 1-2 times a year.

The problem

At the time, the compensation letters feature was one of the top concerns for customer retention in the Compensation product vertical. The original experience had two major issues:

Low admin control

Admins had very limited ability to customize what content appeared in statements.

One-size-fits-all templates

All employees received the same statement, despite differing roles, compensation changes, and informational needs.

Customer retention pain point / admin frustration

The solution

Template creation

Admins can now create multiple templates of compensation letters. They can assign employees to these templates based on factors like department, whether they've received a promotion, what country they live in, and more.

Control over viewership and distribution

Admins have greater control over who gets to see an employee's compensation letter. This includes improvements to permissioning and also improved UX to allow flexibility of who gets to distribute letters. This could be managers, skip managers, or individuals who are chosen to be back-up distributors when someone is out of office.

Inline document editing

Replaced a small text input with a full-document canvas, allowing admins to edit statements directly and feel greater ownership over the content.

Configurable editing panel

Compensation admins need customization of multiple components, including promotion, bonuses, equity, and more. With the revamp, admins can now decide which templates will have which components with a simple click of a button. We also provide maximum flexibility by allowing them to have free-form text sections and allowing them to rename labels to fit their company's nomenclature.

Shareout tracking

Added visibility into whether managers had sent letters to their employees. This helps admins decide on when they can officially close out a compensation review cycle or if they need to nudge people to distribute letters.

Impact

statement adoption

~68%

of launched review cycles shared statements in H2 FY'25

activation rate

+7.8%

YoY improvement in 180-day Activation Rate

module attach rate

+5%

YoY increase in compensation module attach rate

Interested in learning more? Reach out to me to talk through the full process of this work.