At ADP, we know that diversity fuels workplace innovation. We also have the data to tell the real story about workplace diversity.
That’s why yesterday, we proudly sponsored Data Science and Data Architecture at ADP, an event hosted in conjunction with the NYC Women in Machine Learning and Data Science. Along with our principal data scientist Xiaojing Wang, I joined this community of women pursuing passions for data and machine learning for a provocative talk and engaging discussion.
Big data is more than just numbers – it has the power to move the labor market and impact economic policy. Highlighting the ADP Research Institute’s Workforce Vitality Report, I chatted with the audience about how ADP is turning big data into actionable data.
Our Workforce Vitality Report, a quarterly measure of wage growth based on the real payroll data of 24 million Americans paid by ADP, provides critical insights on labor market dynamics as well as benchmarks to measure human capital management for individual companies. The WVR sheds light on key factors that go unmeasured by the government’s jobs report, such as growth in hours worked, hourly wage growth and employee turnover rate. We can break down wage growth by region, industry, company size, age and gender.
While men and women make up 52 and 48 percent of the workforce respectively, for example, our data shows the wage gap still exists, particularly in a few key industries. Today, more women than men work in finance – the “financial activities” industry is dominated by 53 percent women. But strength in numbers does not necessarily equate to strength in dollars. WVR data finds that within the finance industry, men work just 30 hours more per week than women, yet continue to out-earn them by a staggering 42 percent.
When I founded the ADP Research Institute in 2012 it was with the purpose of leveraging ADP’s massive set of big data and expertise to deliver critical and unique labor market insights like this one. Today, both the labor market and employers depend on our data to illuminate the critical trends shaping our working environments.
There is no other organization with the data necessary to deliver insights into the state of the workforce with the depth and accuracy that ADP has. We are excited to share our passion for data with aspiring engineers, technologists, and statisticians – like those of the NYC Women in Machine Learning and Data Science – who have the power to continue using big data for good.