ROSELAND, N.J., Oct. 6, 2014 /PRNewswire/ -- Over the past thirty
years, Professional Employer Organizations (PEO) have helped
transform how businesses can manage their greatest asset—their
employees. As demographic shifts redefine the workplaces of
tomorrow, PEOs are uniquely positioned to help their clients
navigate evolving dynamics that will make human resource management
notably different than today. This was the theme of ADP
TotalSource® President Maria
Black's recent keynote address to the National Association
of Professional Employer Organizations' (NAPEO) 30th
annual conference in Miami,
Florida. As the largest trade association for
professional employer organizations (PEOs) in the nation, NAPEO
represents a growing industry committed to serving their clients
and their nearly three million worksite employees.
"Changes in demographics and advancements in workplace
practices, as well as how we leverage these changes, will determine
our future success," Black said. "Through it all, we cannot
forget that we are in the people business. Employees are a
company's most valuable asset."
Black explained that the workforce dynamics of the future are
poised for a notable shift. She added that while up to five
generations can be working side-by-side in a company today,
according to recent estimates, 75 percent of the workforce will be
made up of Millennials—those born in the early 1980s to the early
2000s—in just ten years, which is being fueled by the fact that
10,000 baby boomers reach retirement age every day.
"Current research shows that younger generations trust their
employers, second only to their parents," Black said. "This
puts the role of the employer in a different light. It also
changes the dynamic for the PEO, which shares employee lifecycle
responsibilities with its client partners – from hire to retire,"
Black added.
As a strategic HR and benefits administration partner to its
clients, the PEO industry is well positioned to address the
demographic shifts and workplace trends. This will help
contribute to a more impactful relationship with client employees,
Black said, especially relating to:
- Work/Life Balance: Increasingly, all generations look
for different forms of work/life balance, whether it's moving to
part-time work, job sharing, or working remotely. PEOs can provide
counsel, including cross-generational mentoring, to help their
clients and their employees accommodate the changes that tomorrow's
workplaces will bring.
- Health: In addition to benefits and wellness programs,
PEOs must stay informed about complex and continuously changing
regulatory obligations designed to protect and educate
employees.
- Wealth: PEOs must be diligent about helping employees
generate wealth and plan for retirement. Recent ADP Research
Institute® data show that as retirement nears, more
employees attempt to "catch up" on their savings. The PEO industry
must help younger generations see that they are responsible for the
bulk of their retirement savings and highlight the need to start
saving earlier rather than later.
ADP is acutely aware of these developments. "When taking
into consideration the total number of employees ADP TotalSource
manages on behalf of our clients, ADP® TotalSource is
among the top ten largest employers in the U.S. Through our
'co-employment' model, ADP shares certain or specific employee
lifecycle responsibilities with our clients, which gives us
firsthand knowledge about the evolving needs of both employers and
their employees. These insights enable us to better
understand, anticipate, and address the opportunities facing the
workplaces of tomorrow, especially as they relate to work/life
balance, health, and wealth," Black added.
ADP TotalSource is the nation's largest PEO, operating 59
offices in 29 states, with approximately 340,000 worksite
employees. ADP TotalSource has created a powerful shared
service model that allows our clients to gain access to FORTUNE
500®-caliber benefits. These include retirement
planning and an expanded wellness offering, Life: Keep it
WellSM. ADP TotalSource clients also have
access to expertise that helps navigate health care reform and
compliance with increasingly complex government
regulations.
For more information about ADP TotalSource, please call
1-800-HIRE-ADP (800-447-3237) or visit www.adptotalsource.com.
About NAPEO
NAPEO is The Voice of the PEO
IndustryTM and represents some 300 PEO members,
ranging from start-ups to large publicly held companies with years
of success in the industry, as well as some 200 service provider
members.
About ADP
Employers around the world rely on
ADP® (NASDAQ: ADP) for cloud-based solutions and
services to help manage their most important asset – their
people. From human resources and payroll to talent management
to benefits administration, ADP brings unmatched depth and
expertise in helping clients build a better workforce. A
pioneer in Human Capital Management (HCM) and business process
outsourcing, ADP serves more than 610,000 clients in 100
countries. ADP.com.
The ADP logo and ADP are registered trademarks of ADP,
LLC. All other marks are the property of their respective
owners. Copyright © 2014 ADP, LLC.
For more information, contact:
Jim Duffy
ADP
(973) 712-2070
Jim.Duffy@ADP.com
SOURCE ADP