ROSELAND, N.J., Nov. 9, 2021 /PRNewswire/ -- ADP, a leading
global technology company providing HCM solutions, has rolled out
new features to its WorkMarket platform to help companies
efficiently and compliantly organize, manage and pay
their extended workforce. The new analytics dashboards feature
will allow clients to track key metrics for their business KPIs –
operational metrics, budget management, forecasting staffing needs,
employee & talent insights, and payments reconciliation – and
receive new and improved insights about their extended workforce
operations.
WorkMarket provides visibility into many areas of a freelance
workforce, including total spend and worker performance.
Many companies embrace an extended workforce comprised of
freelancers, 1099 contractors and contingent workers, and they need
a way to manage all of their workflows from one dashboard. That's
exactly what WorkMarket does: assists companies to organize, manage
and pay an extended workforce efficiently and compliantly.
"WorkMarket looks and works better than ever before," said
Chaayanath Mysore, SVP/GM of WorkMarket. "Users will find that the
automation of so many different functions for their extended
workforce can help save them hours of work and reduce manual labor.
Functionality for assignments lifecycle and the ability to manage
and organize talent will be a unique value proposition to
employers."
WorkMarket starts offering assistance even before a contingent
worker is hired. The AI functions help managers identify workers
and verify their credentials. A geographic heat map lets employers
see the going rates for services and the location of workers in
different parts of the country. Once contracted, WorkMarket can
then onboard and organize the extended workforce into simple
groups, or Labor Clouds, so managers can track their skills,
locations and experience. The system can also track operational
metrics, such as how much time a freelancer is given to complete an
assignment.
WorkMarket apps for Android and iOS devices enable companies to
collaborate with hundreds or thousands of workers across the
country in real time. With the app, workers can sign up and
complete profiles that list their skills and credentials. Once set
up, they can use the app to accept assignments, start engagements
and submit proof of completion.
Using the desktop experience, managers can set rules for how
contingent workers engage with them and can establish requirements
around factors like contracts, insurance or work frequency. The
Labor Clouds helps to ensure that only workers who are compliant
can be hired to do the work.
When assignments are completed, WorkMarket again assists with
payments, assisting in making sure workers are paid conveniently
and on the company's terms. The 1099 payment engine gives managers
the flexibility to pay their extended workforce through an ACH
deposit, credit card or wire transfer. Intuitive automation and
integration with other payment systems streamline invoicing and
billing processing.
By using executive-level dashboards and automated reporting,
WorkMarket helps companies gain visibility into almost every aspect
of their freelance workforce, including elements like total spend,
market coverage and worker performance. WorkMarket provides final
cost details with year-over-year comparisons. The data can then be
exported as an Excel or PNG file.
For details about WorkMarket by ADP, please visit
https://www.workmarket.com/.
About ADP (NASDAQ: ADP)
Designing better ways to work through cutting-edge products,
premium services and exceptional experiences that enable people to
reach their full potential. HR, Talent, Time Management,
Benefits and Payroll. Informed by data and designed for
people. Learn more at ADP.com.
ADP, the ADP logo, and Always Designing for People, are
trademarks of ADP, Inc.
Copyright © 2021 ADP, Inc. All rights reserved.
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SOURCE ADP, Inc.