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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 released on September 2, 2020, private sector employment rose by 428,000 jobs from July to August 2020. This monthly report is based on ADP's payroll data and indicates a gradual recovery in job postings post-COVID-19, although gains remain insufficient to reach pre-pandemic levels. Of the new jobs, small businesses added 52,000, medium businesses 79,000, and large businesses 298,000. Key sectors included service-providing jobs, which accounted for 389,000 of the total increase.
On September 2, 2020, at 8:15 a.m. ET, the ADP Research Institute will release its August National Employment Report, Small Business Report, and National Franchise Report. These reports provide vital employment data, leveraging payroll information from 460,000 U.S. clients and nearly 26 million workers, in collaboration with Moody's Analytics. The Small Business Report focuses on businesses with 49 or fewer employees, while the Franchise Report assesses changes in franchise employment. A media call will follow at 8:30 a.m. ET with economist Mark Zandi.
The board of Automatic Data Processing (ADP) has declared a quarterly dividend of 91 cents per share. This dividend will be payable on October 1, 2020 to shareholders recorded by September 11, 2020. This announcement reflects ADP's commitment to returning value to its shareholders. As a leader in HR, payroll, and benefits services, ADP continues to support its stakeholders amid economic fluctuations.
The July ADP National Employment Report revealed a 167,000 job increase in private sector employment from June to July 2020. This monthly report, produced by the ADP Research Institute in collaboration with Moody's Analytics, highlights significant employment changes across different company sizes and sectors. Small businesses added 63,000 jobs, while large businesses contributed 129,000. However, medium businesses saw a decline of 25,000 jobs. The report indicates a slowdown in labor market recovery, affecting businesses across all sectors.
ADP Research Institute is set to release key employment data on August 5, 2020, at 8:15 a.m. ET. This includes the ADP National Employment Report, ADP Small Business Report, and ADP National Franchise Report, derived from payroll data of approximately 460,000 U.S. clients and almost 26 million workers. The reports aim to provide valuable insights into private sector employment trends. A conference call with economist Mark Zandi will follow at 8:30 a.m. ET for further context on the data.
ADP (Nasdaq: ADP) reported its fourth quarter and fiscal 2020 results on July 29, 2020, with insights into its performance and outlook for fiscal 2021. The company provides human capital management solutions and aims to enhance workplace efficiency through innovative technologies. Key financial metrics and segment revenues are available on ADP's investor relations website, indicating a commitment to transparency and continued development in the HCM space.
ADP has launched the Simplified 5500 Compliance Reporting Process to help businesses manage retirement plan compliance amid ongoing pandemic challenges. This new feature is part of an enhanced Compliance Dashboard aimed at easing the Form 5500 filing process. ADP's solution includes pre-populated plan data, guided online filing, and notifications for filing errors. With this initiative, ADP aims to support businesses in streamlining administrative tasks, allowing them to focus on core operations while ensuring compliance and enhancing financial well-being for employees.
ADP's anonymized payroll data reveals significant insights into COVID-19's impact on the labor market, particularly at the State of the Labor Market Summit 2020. Key findings indicate unprecedented job losses concentrated among lower wage workers. Research included assessments of the effectiveness of the Paycheck Protection Program and the implications of lockdowns on employment and business viability. The summit featured experts from MIT, the University of Chicago, and Moody's Analytics, discussing the economy's future amid ongoing challenges.
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