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, Inc. (ADP) is a premier provider of comprehensive human resources management software and services headquartered in Roseland, New Jersey. Established in 1949, ADP serves over 1 million clients globally, primarily based in the United States. ADP’s services encompass payroll, human capital management (HCM) solutions, HR outsourcing, insurance, and retirement services.
ADP is organized into two main segments: Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers payroll and HCM solutions, HR outsourcing, insurance, and retirement services. The PEO segment, which is smaller but rapidly growing, provides HR outsourcing solutions to small and midsize businesses through a co-employment model.
In recent advancements, ADP has unveiled ADP Assist, a cutting-edge AI-driven solution that transforms work data into actionable insights, enhancing productivity and decision-making for HR professionals. The solution boasts a conversational interface that simplifies HR tasks, boosting overall workforce efficiency.
ADP’s latest technological innovations are driven by its extensive and unique dataset, which spans over 1 million clients across 140 countries, covering 41 million wage earners globally. This vast dataset is integral in training ADP's AI systems, ensuring precise and actionable insights are delivered to clients, aiding smart decision-making.
Furthering their commitment to innovation, ADP’s Marketplace has evolved to become the world’s largest digital HR storefront. Now incorporating AI-enabled partner solutions, ADP Marketplace offers clients enhanced ease and confidence in selecting solutions that best meet their HR needs.
ADP's financial health remains robust, as evidenced by their recent quarterly results and consistent job growth data from their National Employment Report. With a keen focus on secure and ethical data use, ADP ensures client data privacy and compliance, underpinning their trustworthiness in the market.
Learn more about ADP's advanced HCM solutions and the latest developments at ADP.com.
According to the ADP National Employment Report, private sector employment rose by 475,000 jobs in February 2022. The report highlights a significant growth in large businesses, adding 552,000 jobs, while small businesses saw a decline of 96,000 jobs. The service-providing sector contributed 417,000 jobs, dominated by leisure and hospitality, which added 170,000 jobs. The January job addition was revised to 509,000 from an initially reported decline. This report, produced in collaboration with Moody's Analytics, utilizes actual payroll data from ADP.
ADP Research Institute will release the February findings from the ADP National Employment Report, ADP Small Business Report, and ADP National Franchise Report on March 2, 2022, at 8:15 a.m. ET. These reports, derived from payroll data of 460,000 U.S. clients representing nearly 26 million workers, provide key insights into private sector employment and franchise employment trends. Following the release, a media conference call will feature ADP Chief Economist Nela Richardson at 8:30 a.m. ET to discuss the findings.
ADP has been recognized as a Leader in the Recruitment Process Outsourcing (RPO) NEAT 2021 assessment by NelsonHall, highlighting its capabilities in talent acquisition. The firm excelled in categories such as Talent Acquisition Transformation, Innovation in Technology, and Geographic Scalability. This recognition underscores ADP's commitment to evolving its services to meet client needs amidst changing work environments. ADP's innovative solutions, including its AIRS recruitment training program and the ADP DataCloud platform, position the company well to support clients in overcoming hiring challenges.
ADP announced the appointment of David Goeckeler to its Board of Directors, effective February 14, 2022, increasing the independent director count to 11. Goeckeler brings extensive experience in technology, previously serving as CEO of Western Digital and leading Cisco's Networking and Security Business. His expertise in cloud computing, cybersecurity, and business innovation is expected to drive ADP's growth and digital transformation in human capital management solutions. The Board plans to return to a smaller size of 10 directors in the future.
According to the January 2022 ADP National Employment Report, private sector employment dropped by 301,000 jobs from December to January. Small businesses were notably affected, losing 144,000 jobs, while medium and large businesses lost 59,000 and 98,000 jobs respectively. The service-providing sector saw a significant decline of 274,000 jobs, with leisure and hospitality suffering the largest losses. Overall, this marks the first job decline since December 2020, largely influenced by the Omicron variant's impact during the recovery phase.
ADP announced the launch of #TeamADP, a global lineup of professional golfers who utilize data and insights to enhance their strategies on the PGA, LPGA, and European Tours. The team features notable players including Danielle Kang, Georgia Hall, and Sam Burns, emphasizing the importance of a well-planned approach in achieving success. Gus Blanchard, chief marketing officer at ADP, highlighted the parallels between sports and business, noting ADP's role in helping clients tailor their strategies for greater success. Learn more at ADP.com/athletes.
ADP has been recognized as a Leader in NelsonHall's Cloud-Based HR Transformation Services NEAT 2021 evaluation. This accolade highlights ADP's strong capabilities in meeting client needs with its integrated service and technology in Business Process Outsourcing solutions. The evaluation praised ADP for its efficiency-focused BPO offerings, including robust analytics and automation features. ADP's commitment to innovation, supported by a clear roadmap, solidifies its reputation in HR outsourcing, making it an attractive option for organizations seeking comprehensive HR and payroll solutions.
The ADP Research Institute® released its Workforce Vitality Report, indicating a 4.4% increase in overall U.S. wage growth for December 2021, with job holders experiencing 5.9% growth and job switchers at 8.0%. Notably, Generation Z job holders saw a significant 13.1% wage gain. Employment growth also rose by 5.0% year-over-year, driven mainly by the leisure and hospitality sector, despite its previous pandemic-related losses. The report highlighted strong gains in professional business services and IT sectors, reflecting a robust recovery in the labor market.
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