ROSELAND, NJ--(Marketwired - Oct 4, 2017) - Looking to hire a graphic designer but unsure what their total compensation should look like? How do you know if your overtime costs are too high for your machinists? Are your turnover rates comparable to similar businesses in your industry? HR decision-makers used to be in the dark about how their business stacked up against others, until 2015 when ADP ® introduced Benchmarking, powered by ADP ® DataCloud .
The ADP DataCloud benchmarking tool is an industry leader, allowing HR professionals and business leaders to compare their organizations' metrics to accurate benchmarks from other companies in four areas: compensation, workforce change, workforce demographics, and time and attendance. Since its launch, the innovative Human Capital Management tool is now in place with over 1,500 ADP clients. Now, with the next generation of ADP DataCloud comes even more powerful benchmarking, which can deliver the most specific, accurate, and "decision-quality" insights yet.
Updates that are now live include:
- Expanded set of jobs: Benchmarking now offers insights for more than triple the number of jobs previously available -- expanding to more than 2,400 jobs. Do you manage pastry chefs? Or forklift operators? Now you can acquire market insight into very specific positions to ensure that you're accurately measuring yourself against your competition in order to better attract and retain top talent and manage your workforce operations effectively.
- Hundreds more industry filters: Users will have access to information on more than 600 specific industries within a five-level industry hierarchy. Does your organization manufacture agricultural equipment? Or sell women's apparel? HR leaders can now acquire insights for the specific industry that best reflects their company to help drive more strategic business decisions.
- "Smart" job title matching: Leveraging ADP DataCloud's powerful machine learning engine, organizations can more quickly and easily match their jobs to the proprietary ADP Job Taxonomy to provide decision-makers with even more powerful benchmarking comparisons.
- Now served up via ADP mobile: For managers on the go, these deep insights can be accessed by phone or tablet through the ADP® Mobile Solutions app making it easier for executives and managers to fine tune workforce strategy on-the-go.
"To attract talent, retain talent, and stay competitive, businesses need to know how they compare to the market," said Rich Wilson, senior vice president of product development for ADP DataCloud. "The key to effectively doing this is precision -- comparing apples with apples. The benchmarking tool in the next generation of ADP DataCloud supports this by more than tripling its job categories, vastly expanding its industry filters, and integrating a powerful job title matching function. These enhanced capabilities will give clients more accurate market comparisons than ever before."
Using the anonymized data from approximately 30 million employees, benchmarking reduces reliance on outdated and time-consuming survey data, and provides executives and HR professionals with the accurate market context they need to make important decisions on talent strategy, staffing, and more.
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Media Contacts: Allyce Hackmann ADP, LLC. 201-400-4583 allyce.hackmann@adp.com
