HR and payroll technology provider ADP has introduced benchmarking for diversity, equity and inclusion for its ADP DataCloud offering. DataCloud is a data analytics tool that compares workforce data to market averages, based on real, up-to-date anonymized and aggregated HR and pay data from ADP's U.S. client base.
DEI is top of mind for U.S. firms as 2020 brought a renewed urgency to the Black Lives Matter movement. Other movements like #MeToo have also become part of the business zeitgeist.
ADP’s new DEI Benchmarks offer live HR and compensation data from ADP’s workforce dataset of more than 920,000 companies and 30 million-plus employees. The feature will be integrated into ADP DataCloud’s DEI Dashboard, serving up the benchmarks in-line and allowing companies to compare their DEI metrics against similar companies as well as local populations through census data.
“As organizations take a fresh look at their DEI efforts, they need transparency into their people data to inform the actions they take and in turn, the difference they make,” said Bob Lockett, chief diversity and talent officer for ADP, in a statement. “Approaching what is an incredibly emotionally driven issue with a mindset primed for problem-solving can help businesses better define the gaps they need to close. Blending this scientific approach with the art of communication and culture-building can drive true change and lay the foundation for a more inclusive and equitable world of work.”
“Until now, it’s been difficult for companies to compare their DEI metrics to those of similar companies,” added Jack Berkowitz, chief data officer for ADP, in a statement. “With ADP’s new diversity benchmarking data, they can examine trends across industries, geographies, organization sizes, and worker demographics, and make decisions that will have the greatest impact. ADP’s comprehensive DEI offering pairs these insights with guided action and strategic dashboards to help companies track progress and achieve their goals.”
Some key features of the new benchmarking tool include:
- Turnkey story-based insights: Accountants will receive surfaced insights into DEI trends across the organization, including glass-ceiling effects and bias in recruiting funnels;
- Proactive recommendations and best practices: Users can identify pay gaps based on gender, race and ethnicity and receive tailored action plans that quantify the cost of closing gaps;
- Embedded DEI nudges: Managers receive DEI insights within their HCM workflows to drive scalable action; and,
- Research-based surveys: Implement surveys with psychometrically validated questions aimed to evaluate DEI concepts.
Accountant Connect gets new analytics tools, industry partnerships
Separately, ADP has expanded its Accountant Connect platform with new analytics tools, aimed at giving accountants more strategic advisory options for their clients.
New analysis tools include:
- Our Client Insights is a series of dashboards displaying clients by payroll product, newly added jurisdictions, employee trends and the other ADP products being used, such as time & attendance, retirement plans and HR.
- Accountants can view their clients’ authorized data by payroll platform, HR features and time and attendance. Users will now see all their clients’ benefits along with compensation benchmarks, as those have become particularly important for small business to attract and retain top talent.
- Compensation Benchmarking and Industry Insights based on ADP’s 30 million pay records give users the most current compensation data and industry metrics to help their clients structure the strongest offers and compensation plans and gain data-driven insights on their industry
New, non-analytics tools that have been added include:
- A calculator to estimate whether clients are candidates for R&D Tax Credits;
- Reports for PPP loan forgiveness and other COVID-19-related legislation;
- IBISWorld Industry reports, all updated in the last year, for additional insights into clients’ needs; and,
- Additional resources for the latest legislative changes in the Resources and Wolters Kluwer CCH Resource Library, powered by IntelliConnect.
ADP has also added four new exclusive partners to help accountants get the best pricing for top industry applications and services. These include:
- BizEquity: This software provides accountants with current, on-the-spot valuations and financial insights for their clients’ business — an especially helpful tool after the many economic changes brought about by the pandemic. Accountant Connect users get a 25% discount.
- Botkeeper: Artificial intelligence and machine learning technology, combined with highly skilled accountants to deliver a full-suite bookkeeping & pre-accounting solution to Accounting firms. Users can solve their firm's capacity problems and spend more time with their clients. Accountant Connect users get a 25% discount.
- Jirav: Accountants can expand their advisory services to offer FP&A, financial reporting, forecasting and business planning so their clients can build, measure and deliver on financial strategies. Accountant Connect users get a 25% discount.
- Rootworks Payroll Membership: The Rootworks Payroll Membership provides focused payroll-specific resources to firms looking to standardize, improve, and grow their payroll practices. The Payroll Membership is $99/month for Accountant Connect users (a 40% discount).
Terms and conditions for all the Exclusive Partner discounts are available on Accountant Connect.
