Welcome to our dedicated page for Automatic Data Processing news (Ticker: ADP), a resource for investors and traders seeking the latest updates and insights on Automatic Data Processing stock.
Automatic Data Processing reports news on its global HR and payroll solutions business, including cloud-based human capital management products, payroll, talent, time management, tax, benefits, compliance and human resources outsourcing services. ADP serves small businesses through global enterprises and operates through Employer Services and Professional Employer Organization services.
Recurring ADP news includes quarterly earnings releases, fiscal outlook updates, senior note offerings and other capital actions, investor conference participation and labor-market publications. The ADP National Employment Report and NER Pulse use anonymized payroll data to report U.S. private-sector employment and pay trends.
ADP has been recognized as a Leader in Everest Group's 2021 Multi-Process Human Resources Outsourcing (MPHRO) PEAK Matrix for the tenth consecutive year. The report highlights ADP's strengths in HR domain expertise, technology capabilities, and digital transformation. ADP excels in leveraging Robotic Process Automation (RPA) and artificial intelligence (AI) for service delivery, while its ADP DataCloud analytics tool enhances global service effectiveness. The PEAK Matrix categorizes firms based on market impact and delivery capability, and ADP ranked among the top three vendors.
Visa (NYSE:V) and ADP (NASDAQ:ADP) have partnered to provide a digital payment solution for off-cycle employee payments. This integration allows employers to bypass traditional check printing, enabling faster payments directly to employees’ debit cards. Bill Sheley of Visa emphasized the importance of quick access to wages, especially during COVID-19. The partnership aims to offer a cost-effective and convenient solution for both businesses and their employees, addressing the need for rapid payment options. This integration will be implemented over the coming months.
Globalization Partners and ADP TotalSource announced a collaboration to simplify international hiring for small and midsized businesses. This partnership allows companies to employ staff globally without establishing subsidiaries, thanks to ADP TotalSource's comprehensive HR solutions. The offering includes payroll management, compliance support, and onboarding services, leveraging the expertise of in-country teams. This initiative aims to expedite market entry and support business growth, with a focus on compliance amid the complexities of international expansion.
ADP has launched StandOut coaching intelligence, a new tool designed to enhance team leader engagement. This tool provides customized talking points tailored to individual strengths, facilitating deeper conversations between leaders and team members. Research indicates that team members are 3.5 times more likely to be engaged when they receive regular attention from their leaders. The new feature aims to bridge communication gaps in remote work environments, allowing leaders to inspire and motivate their teams effectively.
ADP has been awarded the 2019-2020 U.S. President's Volunteer Service Award by Junior Achievement USA for its commitment to youth empowerment through volunteerism. Despite pandemic challenges, ADP associates contributed to programs fostering financial literacy and career readiness for over 3 million students annually. This recognition reflects ADP's dedication to corporate social responsibility and community support, as articulated by Bob Lockett, ADP's chief diversity and talent officer. The award underscores the importance of volunteer service in shaping future leaders.
In January 2021, private sector employment in the U.S. rose by 174,000 jobs, according to the ADP National Employment Report. Small businesses added 51,000 jobs, medium businesses 84,000, and large businesses 39,000. The service sector saw a notable increase of 156,000 jobs, while goods-producing sectors added 19,000. The report reflects continued recovery in the labor market despite ongoing COVID-19 challenges. Notably, the December 2020 job loss figure was revised from -123,000 to -78,000.
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ADP has announced the expansion of its Next Gen Payroll Platform to Canada and Mexico, enhancing payroll experiences for businesses of all sizes. The platform, which is now operational with its first client in Mexico, enables greater transparency and predictive insights into payroll processes. Key features include a patented policy management system, global compliance capabilities, and continuous payroll calculation. ADP aims to address the complexities in payroll management and provide a scalable solution that supports organizational agility, aligning with current workforce demands.
The ADP Research Institute's Workforce Vitality Report indicates a 4.4% increase in average wages for U.S. workers, reaching $30.19 per hour. This growth is primarily driven by job losses among low-wage earners, as higher-income groups showed flat wage growth. Employment growth declined by -7.9%, with leisure and hospitality sector suffering the most at nearly -24%. Gender disparity persists, with women earning $8 less than men. Regional wage growth varied, with the Northeast experiencing the steepest decline in employment at -10.5%.