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Equifax Workforce Solutions Introduces Employment Benchmarks

Stocks in this article: EFX

LAS VEGAS, Oct. 7, 2013 (GLOBE NEWSWIRE) -- Equifax Workforce Solutions, a leading provider of human resource, data, analytics and verification services, today announced the launch of Employment Benchmarks. The revolutionary, in-depth workforce data provides employers with extensive insight into current hiring, pay and turnover trends across different industries and geographic regions in the U.S. to enable strategic decision-making.

To remain competitive, organizations must increasingly look outside their own walls and understand the key employment trends in their business sector and region in regards to hiring, pay and turnover. Delivered through the company's proprietary QuickStart Workforce Analytics™, Equifax Employment Benchmarks are based on actual employment data rather than self-reported survey information. Delivering the unique opportunity to interact with accurate aggregate market data, Employment Benchmarks enable employers to perform side-by-side comparisons within one system for strategic business decisions. HR and business leaders can gain insight on metrics including hiring rates for hourly and salaried workers, average pay per employee and average length of service.

Employment Benchmarks also support strategy and management associated with the Affordable Care Act (ACA). By understanding trends such as the average number of hours that employees are working within their industry, organizations can predict the percentage of workers that will be eligible for healthcare coverage. Alternatively, insight into fast turnover trends helps employers gauge the number of employees who will not stay for an entire measurement period, and thus will not be eligible to receive coverage during their tenure.

"In today's competitive landscape, it is imperative that businesses understand how they are performing in the context of the overall economic landscape. By delivering current, benchmark data by industry and location, Equifax Workforce Solutions is helping employers understand the effectiveness of their strategic programs around their most valuable resource – human capital," said Mike Psenka, senior vice president of Workforce Analytics at Equifax Workforce Solutions.

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