Putting Big Data to Work
November 05, 2014
Better understand the workforce dynamics affecting your organization.
You know you need to pay attention to ‘big data.’ But you may not know the best approach to using ‘big data’ to make a real difference in your organization. Employment and management data may be interesting on their own, but for business leaders the real impact of this information is how it helps inform the big decisions.
At the ADP Research Institute, we’re turning big data into actionable data. The new ADP Workforce Vitality Report provides insights and analysis of the biggest trends in employment, workforce strategy, and human capital management (HCM) that are affecting your business today. This report, developed with Moody’s Analytics, provides a timely, three-dimensional view of what’s driving the trends in the U.S. workforce.
The ADP Workforce Vitality Index is particularly useful for business leaders looking to:
Better Understand Workforce Dynamics
Imagine you run a wind turbine parts maker in California with just under 400 employees. Over the past few years, you’ve seen rising turnover rates and lower productivity. Maybe other mid-sized manufacturers are facing the same issues. Maybe it’s related directly to wages. Or could there be some larger trend driving workers out of the state?
This new report can help an organization to better understand the workforce dynamics affecting its business, and identify which rocks to turn over when considering how to improve its workforce.
Align Workforce Strategy to Business Strategy
Let’s say you’re a 20-year-old auto parts retailer in Central New York trying to formulate a plan to break into e-commerce. You know you need to change your business strategy, but do you know how to attract the workforce you’ll need to succeed? As you look for those critical employees who can establish your IT strategy or run your web platform, what salary expectations should you be prepared to meet? Is the talent pool for these employees growing or shrinking in your area? Should you consider smart-shoring elsewhere?
With insights from this new report, an organization can be better prepared to attract the workforce needed to win.
Each month, in this space, the ADP Research Institute will share a noteworthy findings derived from the ADP Workforce Vitality Report. We call these Vital Signs, and invite you back to discover more insights that may benefit your business.
About the Report: The ADP Workforce Vitality Index is a comprehensive, quarterly measure of U.S. workforce dynamics that looks at key labor market indicators, such as employment growth, job turnover, wage growth and hours worked. This report yields deeper insights into workforce dynamics and trends than previously available.
For media inquiries about the ADP Workforce Vitality Report, please call 201-400-4583 or email Allyce Hackmann.