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.
ADP has launched Roll™ by ADP, a new payroll app designed for small businesses. This app allows users to run payroll in under a minute using a simple chat interface, eliminating the need for extensive training. Roll is backed by ADP's expertise and offers built-in tax filing, compliance support, and proactive reminders. Available immediately, the app's introductory pricing is $17/month plus $5 per employee. ADP aims to simplify payroll processes, especially as small businesses recover from pandemic-related challenges.
ADP Research Institute will release key employment reports on March 3, 2021, including the ADP National Employment Report, ADP Small Business Report, and ADP National Franchise Report. These reports provide critical insights into private sector employment trends, derived from payroll data of 460,000 clients and nearly 26 million workers. The ADP Small Business Report focuses on businesses with 49 employees or fewer, while the ADP National Franchise Report analyzes changes in franchise employment, covering 15,000 franchisors and nearly one million workers.
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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