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ADP® Workforce Vitality Report Q3 2017 Shows Deceleration in Wage Growth

ADP® Workforce Vitality Report Q3 2017 Shows Deceleration in Wage Growth

According to the ADP Workforce Vitality Report, overall wage growth increased by 1.7 percent year over year across all industries in the third quarter of 2017 and is slower than the 2.6 percent growth in wages reported by the U.S. Bureau of Labor Statistics (BLS). The ADP Workforce Vitality Report tracks the same set of workers over time, which provides a more insightful picture of wage growth than overall wage growth. This set of workers includes job holders, who stayed in their same job for at least one year, and those who changed jobs, referred to as job switchers. Key indicators from the report include: Job holders’ wages grew by 4.4 percent and job switchers’ wages grew slightly less by 3.3 percent year over year in the third quarter On average, job holders’ hourly wage levels were $10 more than that of job switchers. Tracking full-time workers alone, job switchers increased their wages by an average of 4.9 percent when compared to job holders, who saw their wages rise...

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HRE Daily features ADP’s Ahu Yildirmaz: Thinking Like an Economist

HRE Daily features ADP’s Ahu Yildirmaz: Thinking Like an Economist

HRE Daily wrote a recent article about incorporating analytics into hiring and HR practices, featuring Ahu Yildirmaz, Co-Head of the ADP Research Institute®. According to workforce industry economists speaking at a session titled “The Real Economics of HR Technology: Using Big Data to Drive HR Decision Making” during the HR Tech Conference on October 11th, you don’t need to be a tech giant to incorporate analytics into your hiring and HR practices. In fact, employers that aren’t using analytics to improve recruiting and other aspects of people management put themselves at a distinct disadvantage. A tight labor market that is intensifying competition for workers, technological innovation, the evolution of how work gets done and changing labor demographics make it imperative to plan for the future, and analytics are the best way to do that, economists said. “CHROs have to think like economists, not just CHROs, but the entire C-suite should be using data to understand how best to allocate talent resources to optimize their workforce and increase margins,” said...

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Updated Wage Garnishment Study from the ADP Research Institute® Examines New Facets of This Workforce Issue

Updated Wage Garnishment Study from the ADP Research Institute® Examines New Facets of This Workforce Issue

By Julie Farraj, division vice president and general manager, Wage Garnishments and Unemployment/Employment Verification Services for ADP Added Value Services A new 2017 study by the ADP Research Institute® (ADPRI) continues to flesh out the facets of wage garnishment and its impact on employers and their workers.   Based on the anonymous 2016 pay data of about 12 million U.S. workers, this new study reveals that one in 14 of those workers are carrying a wage garnishment and an estimated 12 percent of those with a garnishment have more than one type of wage garnishment. This research also introduced a new metric – the number of wage garnishments per employee, which according to the study averages 1.4 per employee.   The study showed that in 2016, approximately 7 percent of the U.S. workforce had their wages garnished. Of the four types of wage garnishment studied, the highest rate was for child support, followed by “other” general garnishments, such as student debt and consumer loans, tax levy, and bankruptcy.  ...

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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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