Today, “State of the Workforce Report: Pay, Promotions & Retention” was released by the ADP Research Institute. The report uncovered the key insights which pertain to the Human Resource community and the business leaders. It was created to aid the employers to get a better knowledge of the hierarchical structure which pertains in the organizations, the pay levels, and how there is a between promotions and pay and how employers keep the workers throughout their organizations. Established from the base of the payroll of over a 13 million employees, this research provides insights into the turnover, hierarchy, promotions and the span of control of a firm & how it’s important to understand the relevant trends of the labor market.
Co-head of the ADP Research Institute, Doctor Ahu Yilrimaz said: “Employees are a firm’s greatest asset, and the data presented in the State of the Workforce report provides an opportunity for firms everywhere to improve the organizational design, better serve their employees, and grow their business. When making key workforce decisions, it is critical for business leaders to know, for example, that the average number of direct reports per manager is 6.9 and the data shows that managers with more direct reports experience higher turnover.” He further noted that: “While the promotional opportunity may be perceived as a net positive, it can also have a negative impact on team members who have been passed over.”
ADP’s Chief Strategy Officer, Matthew Levin stated: “A void has existed in the market for human resources data, therefore employers often need to undertake complex organizational restructuring projects with limited insight. The State of Workforce report can help HR leaders lead the charge in organizational strategy by providing the reliable hierarchy, pay and promotion benchmarks they need to make informed decisions.”