ADP Broadens its Human Capital Management Offer to Help Midsized Companies Gain a Competitive Edge
ADP Issues New Whitepaper on Midsized Business Owner Perceptions of the U.S. Economy Today vs. Four Years Ago, with a 12-Month Outlook
CHICAGO – October 8, 2012 – ADP®, a leading provider of human capital management solutions, today unveiled its next-generation ADP Workforce Now® cloud-based platform for midsized organizations. The company showcased its new platform at the annual HR Technology Conference & Exposition in Chicago. This enhanced platform broadens ADP’s lineup of human capital management (HCM) services by providing midsized companies with access to more sophisticated tools to manage their workforce. As midsized companies struggle to compete in tough economic times, ADP Workforce Now enables businesses to be more strategic in how they manage their employees while reducing time spent on administrative tasks.
According to a recent survey by the ADP Research InstituteSM, only 15% of midsized business owners and executives are confident the U.S. economy will improve over the next 12 months compared to 52% who believe it improved during the last four years. Despite this pessimistic outlook, 43% plan to hire an average of 18 new employees in the next year.
The same ADP Research Institute study entitled, “Top Concerns of Business Leaders in the Post-2008 Economy,” revealed the top three business concerns on the minds of midsized business owners are:
- The rising cost of health coverage and other benefits;
- Slow economic growth; and
- The level/volume of government regulations.
Of particular interest is the area of increased government regulation, where 81% of midsized business owners believe their business is in compliance with tax and labor regulations. Yet, 33% reported having incurred unintended expenses such as fines or penalties in the last year due to noncompliance – not once, but an average of 6.4 times. Midsized companies can ill afford such preventable expenses and need HCM tools that can help business owners reduce risks and operate more efficiently.
“We’re thrilled to unveil our enhanced platform for midsized businesses and understand companies of all sizes need access to sophisticated HCM tools,” said Jessica Saperstein, Division Vice President of Strategy and Business Development at ADP. “Our newly enhanced ADP Workforce Now platform gives midsized companies greater controls in an all-in-one package so they can do more to confront human resources challenges.”
The ADP Workforce Now platform is a key component of ADP’s fast-growing HCM portfolio, which includes ADP Vantage HCMSM for large organizations and ADP GlobalView® for multinational organizations. ADP recently announced its HCM services now support more than 30,000th clients worldwide
“I’ve used ADP Workforce Now for years to efficiently manage my organization’s employees, and I’m excited about how the new functionality on this evolving platform provides even greater control over HR tasks,” said Tom Aldrich, Vice President/Human Resources Director, at Teche Federal Bank, an existing ADP Workforce Now client in New Iberia, La. “In fact, the technology behind ADP Workforce Now allows me to perform most human resources activities from anywhere with an Internet connection, which is critical during hurricanes and other natural disasters that periodically impact the Gulf Coast.”
Designed for the Midmarket’s Evolving Needs
Like their larger peers, midsized companies face intense competition. According to the same ADP Research Institute survey, 54% of midsized companies saw increased competition within their industry in the last 12 months. ADP Workforce Now is specifically designed to help midsized organizations address competitive pressures and other evolving business challenges with a host of new features, including:
- All-in-one HCM platform elevates human resources to a more strategic role by automating human resources, benefits, payroll, talent management, time and attendance and reporting processes.
- Multi-lingual platform that simplifies HCM activities for the growing number of midsized companies with employees and operations spanning diverse geographies.
- Enhanced, intuitive user interface delivers a better user experience with quick access to the information employees and employers need.
- Mobile functionality gives employees using the free ADP® Mobile Solutions application more flexibility to check their vacation, personal and sick time balances and request time off based on their employers’ paid time off (PTO) policies.
- More robust reporting tools make it easier to create custom and comparison reports and simplify regulatory compliance.
- Enhanced recruitment tools automate the end-to-end talent acquisition process and integrate with the employee onboarding experience.
- Multi-rater (360-degree) reviews enable any employee to contribute to a colleague’s performance review.
- Real-time payroll enables human resources and finance professionals to run and review a payroll in seconds.
“As a leading provider of all-in-one human capital management solutions, ADP is strategically focused on helping companies enhance decision-making to drive better business outcomes,” said Don Weinstein, Senior Vice President of Product Management at ADP. “The ADP Workforce Now platform reinforces our commitment to providing companies of all sizes with innovative and affordable tools to manage every area of HCM.”
About the ADP Research InstituteSM
The ADP Research Institute is a specialized group within ADP that provides insights to leaders in both the private and public sectors around issues of human capital management, employment trends and workforce strategy. For more information about the ADP Research Institute, visit: www.adp.com/research.
Automatic Data Processing, Inc. (NASDAQ: ADP), with more than $10 billion in revenues and approximately 600,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging over 60 years of experience, ADP offers a wide range of human resource, payroll services, tax and benefits administration solutions from a single source. ADP's easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company's Web site at www.ADP.com.
Weber Shandwick for ADP