ROSELAND, N.J., April 22, 2014 /PRNewswire/ -- ADP ®, a leading global provider of human capital management (HCM) solutions, today announced new enhancements to its ADP Workforce Now ® platform for midsized employers. These enhancements will help midsized companies improve their business performance and gain a competitive edge by creating a pay-for-performance culture, simplifying regulatory compliance and leveraging analytics to inform business decisions.
As midsized companies seek new growth opportunities, they require a more sophisticated approach to workforce management on a global scale. According to a recent ADP Research Institute ® study, 1 13% of midsized businesses already have operations outside the United States. Moreover, the same study found that nearly half (46%) of respondents said globalization has had an impact on how their organizations conduct business.
As a result, a growing number of midsized firms are adopting integrated HCM systems to help them efficiently manage operations across state and national borders. This includes streamlining compliance with complex regulations, such as the Affordable Care Act (ACA) and evolving local labor laws, attracting and retaining top talent, and gaining actionable insights to help achieve strategic business goals.
"Growth increases business complexity for midsized businesses by requiring them to manage a larger, often geographically dispersed workforce while employing strategic compensation programs that enable them to compete with larger firms for high performers in the war for talent," said Regina Lee, President, Major Account Services and ADP Canada. "By continuing to enhance the ADP Workforce Now platform, we're empowering our clients to proactively address their complex HCM challenges so they can focus on driving business results."New ADP Workforce Now Platform Enhancements Include:
- ADP Workforce Now Compensation, which automates compensation planning to help midsized companies engage and retain top talent by creating a pay-for-performance culture. Compensation is often the single largest expense on an employer's balance sheet 2, and companies can optimize their compensation programs in a way that rewards and incents key employees for performance that drives better business results. This new tool complements ADP Performance Management to help organizations link employee performance to employer-defined award guidelines and budget thresholds and simplify the processes associated with pay increases and bonuses.
- ACA Compliance Dashboard, part of the platform's Benefits Administration solution, helps midsized companies more easily stay compliant with all applicable ACA provisions.
- A new Application Programming Interface (API) Library makes ADP Workforce Now even easier to use for employers, employees and developers by providing access to hundreds of HCM-related data fields. This gives employers greater flexibility to integrate ADP Workforce Now with other business systems, such as to support secure sharing of new hire data across departments so new employees no longer need to enter personal information in multiple systems. It also allows developers to more easily integrate their application offerings based on the platform's open architecture.
- An expanded Global Human Resources System of Record that now supports 33 countries with multilingual and multi-currency capabilities.
An enhanced ADP Analytics SM package with built-in industry standard HCM metrics for HR, time, payroll and talent, which also enables employers to add customized Key Performance Indicators (KPIs). In addition, built-in benchmark capabilities enable HR executives to compare their company's performance against industry standard metrics to inform data-driven decision-making.