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ADP Convenes Economic Experts for First “State of the Labor Market Summit”

ADP Convenes Economic Experts for First “State of the Labor Market Summit”

Ahu Yildirmaz, Ph.D. Vice President, ADP Research Institute

The U.S. labor market is at a critical inflection point. It is nearing full employment, top talent is becoming scarce and job switching is at an all-time high. Now more than ever it is important that business leaders, policymakers and the public have greater transparency into how the labor market is performing. That’s why we use our deep empirical data to share labor market insights like our monthly National Employment Report and quarterly Workforce Vitality Report, to provide a clear look at job and wage dynamics. It’s also why we have shared our data with a team of some of the brightest minds in labor economics who have used it for their own in-depth research into the labor market and we convened this group at a new event – the ADP Research Institute State of the Labor Market Summit 2017. The ADP Research Institute State of the Labor Market Summit 2017, hosted at the Nasdaq MarketSite, brought top experts together to explore overall trends in the labor market and...

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AccountingWEB Features ADP Suggestions for Talent-Starved Accounting Firms

AccountingWEB Features ADP Suggestions for Talent-Starved Accounting Firms

AccountingWEB has published a byline by Ahu Yildirmaz, co-head of the ADP Research Institute, titled “3 Ways Accounting Firms Can Address the ‘Me’ Versus ‘We’ Mindset,” which explores the impact to accounting firms of a growing talent gap and provides ways they can address this workforce challenge. “The study showed that employers think that only 21 percent of employees are passively looking for another position when, in fact, 42 percent of employees are looking for opportunities elsewhere. These statistics spotlight a growing disconnect between employer perception and employee reality in the workplace, which is contributing to an already startling talent drain…We call this employee-employer friction the “me” versus “we” mindset…It means employers need to recognize that attracting and retaining talent is getting harder due to an abundance of opportunity for accounting professionals.” Read the entire article at AccountingWEB. Share this:Click to email (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Google+ (Opens in new...

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“Me” vs. “We”: Employers are Unaware that More Than Half of Their Employees Are Open to Leaving

“Me” vs. “We”: Employers are Unaware that More Than Half of Their Employees Are Open to Leaving

Ahu Yildirmaz, Ph.D. Vice President, ADP Research Institute

The labor market is tightening, wages are on the rise, and while employers may have had the upper-hand in the past, a distinct shift is underway. Employees are now calling the shots. What does this mean for employers and how they attract, retain and engage talent? The ADP Research Institute® (ADPRI) commissioned a new survey to find out. From the results, ADP® developed two papers, “Evolution of Work 2.0; The Me vs. We Mindset,” and “Fixing the Talent Management Disconnect: Employer Perception vs. Employee Reality in the U.S. Midsized Market,” which found employees tend to concentrate on their work environment, look for meaning in their job, and want immediate advancement opportunities (the “me” mindset). Whereas, employers tend to focus on bigger picture areas like financial performance, reputation, and long-term career pathing (the “we” mindset). A strengthening economy opens doors According to the ADP® Workforce Vitality Report, job switching is at an all-time high with about 27 percent of U.S. workers changing jobs on an annual basis. The ADP National...

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The Penny Hoarder Shares Workforce Vitality Report Findings with Readers

The Penny Hoarder Shares Workforce Vitality Report Findings with Readers

The Penny Hoarder, a popular personal finance site, recently shared key findings from the ADP Research Institute’s Workforce Vitality Report in an article titled, “How Quitting Your Job Could Help You Make More Money.” The story discusses how job switching can have a greater impact on an employee’s wages than staying put — “Employees who quit one full-time job and move to another new one see an average 6% wage increase, compared with 4.6% for those who stayed in the same job.” The story also looks at how industry, age, tenure and gender can play a factor in wage increases as well. Read the full story here: https://www.thepennyhoarder.com/jobs-making-money/changing-jobs-get-a-raise/ Share this:Click to email (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Google+ (Opens in new window)Share on Facebook (Opens in new...

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USA Today Highlights Workforce Vitality Report Data

USA Today Highlights Workforce Vitality Report Data

In an article titled “Tight labor market giving more Americans career clout,” USA Today leverages recent ADP Research Institute data from our Workforce Vitality Report highlighting that the tightening labor market is creating an opportunity for job switchers to increase their wages. “About half a million U.S. workers left one job for another in the fourth quarter, up from 406,000 in the same period in 2015 and 365,000 two years ago, according to estimates by private payroll processor ADP. That trend largely has been reported by the Labor Department and reflects a more vibrant job market. But ADP, which, unlike Labor, can track employees as they move among jobs, also finds that more of them are shifting into new sectors, such as a marketing manager who leaves retail for finance. In eight of the 10 major industries tracked by ADP, the share of job-switchers who came from a different industry increased from late 2014 to late 2016 while the share swapping jobs within the same industry fell. That’s up...

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