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Marc Rind on Benchmarking: An Important Tool in the War for Talent

Marc Rind on Benchmarking: An Important Tool in the War for Talent

HR Daily Advisor recently published a bylined article by Marc Rind, VP of Product Development and Chief Data Scientist titled, “Benchmarking: An Important Tool in the War for Talent.” It discusses how the insights generated from benchmarking can help employers attract and retain skilled talent in today’s tightening labor market. In the article Rind says, “It’s no secret we are living in a job seeker’s market. With unemployment at a 16-year low, the risk of employees considering other job opportunities is high. In fact, the ADP Workforce Vitality Report found that job switching in the U.S. during the 3rd quarter of 2017 was 27% – an all-time high. Additionally, nearly two-thirds of the global workforce is actively or passively seeking new job opportunities, according to the ADP Research Institute’s study, The Evolution of Work 2.0.” Rind also discusses that as the world of work evolves, so are benchmarking tools. He says that benchmarking was done very broadly in the past but today’s tools include a vast array of job...

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ADP’s Marc Rind on TLNT: 4 Benchmarks and What They’ll Tell You About the Business

ADP’s Marc Rind on TLNT: 4 Benchmarks and What They’ll Tell You About the Business

TLNT has published a byline by Marc Rind, vice president of product development and chief data scientist at ADP, titled “4 Benchmarks and What They’ll Tell You About the Business.” The article explores how benchmarking brings insights that answer questions HR and team leaders need to know, such as: Am I seeing higher turnover than similar companies? Am I offering the best benefits to keep my fresh, rockstar developers? Are people from my team absent too often? It also highlights how this is especially critical in today’s labor market, where job switching is at an all-time high and finding skilled talent is tough. The article explains that 61% of the workforce is either actively or passively seeking new opportunities, according to the ADP Research Institute’s (ADPRI) study Fixing the Talent Management Disconnect. Read the full article...

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Benchmarking Leaps Forward with Vastly Deeper Job and Industry Insights Plus Smarter Job Matching in Next Generation of ADP DataCloud

Benchmarking Leaps Forward with Vastly Deeper Job and Industry Insights Plus Smarter Job Matching in Next Generation of ADP DataCloud

Looking to hire a graphic designer but unsure what their total compensation should look like? How do you know if your overtime costs are too high for your machinists? Are your turnover rates comparable to similar businesses in your industry? HR decision-makers used to be in the dark about how their business stacked up against others, until 2015 when ADP® introduced Benchmarking, powered by ADP® DataCloud. The ADP DataCloud benchmarking tool is an industry leader, allowing HR professionals and business leaders to compare their organizations’ metrics to accurate benchmarks from other companies in four areas: compensation, workforce change, workforce demographics, and time and attendance. Since its launch, the innovative Human Capital Management tool is now in place with over 1,500 ADP clients. Now, with the next generation of ADP DataCloud comes even more powerful benchmarking, which can deliver the most specific, accurate, and “decision-quality” insights yet. To learn more about the updates that are now live click...

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Benchmarking’s Time to Shine: ADP Solution Named One of Top HR Products of 2016 and ‘Awesome’ New Technology

Benchmarking’s Time to Shine: ADP Solution Named One of Top HR Products of 2016 and ‘Awesome’ New Technology

Human Resource Executive® recently revealed that Benchmarking, powered by the ADP® DataCloud, has been selected as one of its “2016 Top HR Products” and “Awesome New Technologies for HR.” With a record-breaking number of nominations to consider this year, the magazine relied on a combination of staff reviews and comments from outside experts and analysts to choose the top products of the year. So what, exactly, is Benchmarking and why was it honored? Benchmarking was introduced as part of the ADP DataCloud analytics platform in October 2015. The solution gives companies the ability to compare their workforce data with up-to-date aggregated and anonymized HR and pay data from ADP’s database of more than 95,000 client organizations. By harnessing this data, HR leaders can see how their companies stack up to the competition in such areas as compensation, workforce change and workforce demographics. For example, an ADP benchmark may reveal that the average tenure for a specific job in a specific industry is two years. If your company has employees...

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