ADP introduced enhancements to its DataCloud platform to help employers address some of the more complex issues they face. Among other things, customers now have the ability to benchmark their organization’s data against broader information that’s gathered anonymously from some 740,000 companies.
The database, ADP said, provides users with information that can be broken down in a number of ways—such as headcount and compensation by role—and also uncovers patterns. The platform also can recommend solutions to various workforce problems.New @ADP DataCloud enhancements aim to help employers deal with complex issues through improved benchmarking, storyboarding. #HR #HRTech Click To Tweet
Jack Berkowitz, ADP’s senior vice president of product development, said the enhancements will allow some companies to discover metrics “they never knew they had.”
The new features include:
- A pay equity storyboard that presents company data broken down by jobs and filtered by categories such as gender and race/ethnicity. If a company budgets a certain amount to address pay gaps, DataCloud can calculate distribution models that can help close the gaps across the organization.
- Organizational benchmarks allow companies to benchmark their headcount, labor costs and turnover against others in their industry. In turn, that comparison helps them identify areas of their business that are too lean or too heavy. In essence, the benchmarks help companies understand how balanced they are, and whether they need to adjust their strategy based on evolving industry trends.
- Turnover storyboard uses predictive analytics to help companies compare their turnover rates to their industry’s and identify what areas of the organization are most vulnerable and which employees may be most at-risk. DataCloud can calculate a company’s potential retention rate and cost savings when certain adjustments, such as increasing compensation, are made.
- An enhanced recruitment experience streamlines use DataCloud’s Profile Relevancy tool, which helps score, assess and match candidates to job openings. New compensation benchmarks help present a more precise candidate view, and recruiters can more easily access insights while they’re completing job requisitions.
As part of the same effort, ADP Canada rolled out Canadian compensation benchmarks, Data Mashup and Storyboards. Canadian benchmarks will be available at the provincial level. DataCloud also updated its model-based benchmarking (AScore) by including over 70 external economic data sources.
ADP Leverages Data
ADP, which gathers a wide range of data in the course of serving businesses of all sizes, around the world, has consistently sought to leverage intelligence from that data set. In an interview with the HCM Technology Report last summer, Linda Mougalian, division vice president of product marketing and strategy for ADP, said the company is “looking at all of our data and distilling it down into tiny nuggets of insights at the team leader level, and pushing it out to them.”
A key to the company’s approach, she added, is the idea of making data accessible. “We’re not necessarily just saying, here’s the trend and you can dig into it and figure things out on your own. One of the things that we have is this idea of story boarding and presenting things in very clear English, with recommendations. So we’ve moved from predictive insights to being prescriptive.”
ADP is a sponsor of the HCM Technology Report.