ADP Claims It Can Stop ‘Aging’ Process In Regards to Compensation Data
A common occurrence within companies is confusion regarding of determining compensation ranges for specific roles.
Often, hiring managers are left to interpret what they know and what they think they know regarding a prospective employee’s appropriate compensation, devoid of any real logic behind the assumption.
Compensation data is often times too old, and virtually obsolete when it comes time to hire a new employee, leaving hiring managers to pick up the pieces.
A newly designed annual compensation tool delivered by the ADP DataCloud delivers visual, easy-to-understand displays of detailed compensation data with progressive views of compensation over a period of five quarters.
For U.S. clients of ADP, this helps to eliminate the tedious exercise of aging data every time a request for a compensation estimate finds itself outside the annual survey circle.
“How many times have you needed to refine your compensation strategy because you’re hiring a new person, you’re moving to a new location or you’re creating a new position?” asked David Turetsky, vice president of product management at ADP. “Traditional compensation data surveys publish their results annually because the cost and effort to publish the data quarterly would be prohibitive for them and their clients. ADP’s data is up to date and gives HR and Finance executives an invaluable tool they can use when the need arises.”
“Your goal is to attract and retain the best talent available to support your organization. Period!” Turetsky continued. “ADP helps you succeed by simplifying the way data is presented so a larger group of users can absorb, interpret and act on it. This uses actual pay data that is completely anonymous and aggregated. Its authenticity makes it more actionable to help drive business success.”
Originally introduced in May 2015, the ADP DataCloud allows business leaders and HR professionals to generate actionable insights from the workforce data embedded in their ADP human capital management solutions.