ADP DataCloud, the award-winning people analytics solution, unveils additional AI-driven features to address pay equity gaps and employee retention problems, keeping businesses at the top of rapidly shifting economic policies.
The new artificial intelligence and machine learning tools are part of ADP's commitment to helping businesses to innovate to thrive in a changing world by providing them the required data to make informed and actionable decisions.
These new features are set to highlight the platform's evolution in response to some of the most complex and persistent issues for business leaders. Previous improvements to the DataCloud, such as the "Storyboards" feature, have also guided clients in viewing and understanding their metrics, gaining new insights in the process. These updates help solve costly turnover and compensation gaps that in return, affect talent acquisition and retention.
"The world of work has experienced seismic changes this year, fueled by the COVID-19 pandemic and the demand for a more diverse and inclusive workforce," said Jack Berkowitz, Senior Vice President of Product Development at ADP. He adds that the new enhancements to the ADP DataCloud "give businesses the people-data they need, when they need it most," and allows their businesses to move forward.
Pay Equity Storyboard
The Pay Equity Storyboard allows businesses to look at their organization's data broken down b jobs and can be filtered by categories like gender and ethnicity. For businesses with allotment for addressing pay gaps, ADP DataCloud can now provide effective distribution models business leaders can adapt to close pay gaps in their respective organizations.
In a press release, ADP DataCloud announced that it will continue to roll out additional features by 2021, providing more insights that could guide businesses in making the shift to a more inclusive work environment.
Organizational Benchmarks
ADP DataCloud's Organizational Benchmarks can now go over headcounts, labor costs, and turnover to understand how their own company benchmarks compare to industry standards. It would help them understand parts of their current organization that might be too heavy, or too lean.
With Organizational Benchmarks, companies can better visualize how balanced they are compared to their contemporaries.
Turnover Storyboard
This new and AI-driven storyboard uses predictive analytics to compare a company's turnover rates against other companies in the same industry, identifying vulnerabilities, and which employees might require additional attention and engagement. With the Turnover Storyboard, ADP DataCloud can provide values for potential retention rates, as well as the corresponding cost savings from certain adjustment strategies.
Enhanced Recruitment Experience
Taking headhunting and recruitment to the next level, the ADP DataCloud Profile Relevancy tool has been further improved with compensation benchmarks to better visualize candidate views. The tool has been helpful in the assessment and matching of applicants to business openings within the organization, and its latest upgrade makes it more accurate and more powerful, making human resource tasks more convenient.
Canada Expansion
ADP Canada has also released its localized compensation benchmarks, Data Mashup, and Storyboards. The DataCloud for the North American country will offer its own benchmarks, available down to the provincial level. A Canadian business, for example, can view and compare benchmark rates between Ontario and Quebec. It also boasts more than 70 external economic data sources for more precise compensation data.
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