ADP® has scored a three-peat, taking home the title of one of Human Resource Executive’s “Awesome New Technologies,” for a third straight year with its Pay Equity Explorer solution. Pay Equity Explorer is an innovative tool that combines data science and benchmarking and is built on the biggest dataset in human capital management, the award-winning ADP® DataCloud. The solution was developed to help organizations uncover insights and identify potential areas of risk when it comes to gender or race pay gaps so they can stay competitive in the war for talent.
In addition to the legal requirements for equitable compensation at the state and federal levels, pay equity can impact an organization’s ability to attract and retain talent. In fact, a study by Aptitude Research Partners found that organizations that make pay equity a priority see on average 13 percent higher engagement levels, have lower than industry average turnover, and are 19 percent more likely to exceed industry average levels of productivity. What’s more, significant pay gaps increase a company’s risk profile, as state and federal governments and agencies continue to explore additional requirements and legislation.
“We selected ADP’s Pay Equity Explorer as an “Awesome New Technology” because the solution demonstrates innovation, usability, and value for HR leaders and their organizations,” said Steve Boese, Human Resource Executive columnist and HR Technology conference co-chairman. “More importantly, the solution highlights how modern HR technologies can be leveraged to help organizations address increasingly important and pressing issues surrounding equity and fairness in the workplace.”