Delivering Top-Notch Employee Education Programs Earns ADP Prestigious Award

ADP wins a 2017 Eddy Award from Pensions & Investments Magazine.

Educating employees about financial wellness is a top priority for many of today's human resources leaders. With so many workers concerned about retirement security, employers have a clear opportunity to step in and help. Whether it's enabling employees to save more for retirement or learn about budgeting, financial education can potentially serve as another popular perk among a growing list of benefits that are helping companies attract and retain top talent.

ADP (No. 21 on the DiversityInc Top 50 Companies list), through its Retirement Services business, is helping employers address this challenge through ongoing education programs. These initiatives offer clients tools and information that may help their employees better manage their finances and grow more confident in their financial futures.

These efforts have earned ADP prestigious industry recognition from leading institutional investment publication Pensions & Investments® (P&I), which recently honored the ADP Retirement Services business unit with its 2017 Eddy Award for Ongoing Investment Education. Winners were announced at P&I's annual East Coast Defined Contribution Conference in Miami, Fla. Award winners also are being featured in the publication's April issue.

The Eddy Awards® is an annual recognition from Pensions & Investments that acknowledges best practices by companies who offer defined contribution plans that provide investment education to participants. It recognizes accomplishments in seven categories: Automatic re-enrollment, conversions, ongoing investment education, plan transitions, retirement health care savings, retirement preparation and special projects.

"We are very pleased with the way participant marketing materials provided by ADP Retirement Services are presented to our associates," saidSharon Howard, benefits administrator at GECOM Corp., a manufacturer of door-locking mechanisms for the automotive industry in Greensburg, Ind. "The information is well designed and integrates well with the education program provided by our retirement representative. The ease in offering and understanding the information is a great asset to our workforce."

ADP said it was proud to be recognized by Pensions & Investments.

"At a time when retaining employees is crucial, it's important to create a support system for those employees as they plan their financial futures," said Joe DeSilva, senior vice president and general manager, ADP Retirement Services. "Providing retirement plan solutions continues to be a core competency of ADP as the firm has grown to be a global leader in human capital management. We're delighted Pensions & Investments has chosen to acknowledge our continuing efforts to educate and inform our clients and their employees."

ADP's education program is designed to make it easy for participants to get answers about their retirement plans, to provide tools that educate about financial wellness, and to keep workers engaged. Elements of the program include:

  • An email campaign designed to prompt participants to assess their elected deferral rates to save for retirement.
  • Information about the ADP Retirement Services mobile platform, which is integrated with the ADP Mobile Solution app. Participants can access their retirement savings accounts via their mobile device to view balances, increase contributions, and change fund offerings. The ADP Mobile Solution app is used by more than 10 million individual employees across 175 countries, supporting an average of 1,000 HR transactions per second.
  • Information about the ADP Retirement Services portal website, which is available to anyone whether or not they are an ADP client.
  • A series of educational, online videos to inform participants about the benefits associated with their retirement savings plan.
  • A video featuring plan participants who recount their positive experiences with their 401(k) plans.

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The Future of Pay is Here! New ADP Innovation Helps Employers Tailor Payments to the Preferences of All Employees

Wisely Pay by ADP Combines Global Cash Card and ADP Capabilities to Create Best-in-Class Payment Offering

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Changes in talent demographics, working arrangements and technology are impacting how employees need and want to be paid. To meet these shifts, paycards and digital accounts are increasingly becoming attractive options, allowing employees to access their pay how and when they want. Additionally, employers now have the opportunity to take an active interest in the financial wellbeing of their workers to help them get the most out of their pay.

ADP is continuing its innovation momentum by revolutionizing the way people are paid by introducing Wisely Pay by ADP. Wisely Pay is the next step in ADP's constant evolution to put clients and their workers at the forefront of macro trends shaping the employment landscape, including the growing number of freelance individuals.

"The world of work is changing and our clients look to us as the market leader in payments, to help them better engage with their entire workforce," said Doug Politi, president of Compliance Solutions at ADP. "Wisely Pay is leading the way people get paid in the future as a true bank alternative, with innovative services like instant pay, savings, digital wallet, and other financial management and wellness features that are better aligned with the evolving workforce."

The functionality of digital accounts, including paycards, and ease of access to funds have made them particularly popular among Millennials. According to a recent report commissioned by ADP, almost half of Gen Z (47 percent) and nearly a third of Millennials (31 percent) would turn down a job if they were unable to choose their method of pay. Additionally, this report revealed that 47 percent of Millennials and 66 percent of Gen Z have used a pre-loaded payment card in the last 12 months.

Wisely Pay is the first offering resulting from ADP's acquisition of Global Cash Card and provides the administrative tools and support to enable employers of any size, industry and workforce blend of full-time, part-time and/or freelance workers to enjoy:

  • Advanced technologies: Best-in-class experiences for cardholders and administrators from ADP's in-house digital payments platform, built by Global Cash Card and ADP's award-winning Instant Funding APIs.
  • Pay flexibility: Wisely Pay offers multiple ways to receive, spend, and manage money, including fully electronic options like peer-to-peer transfers, instant pay, and mobile digital wallets by Apple Pay®, Samsung Pay® and Android Pay®.
  • Attracting and retaining talent: The multi-generational workforce places unique demands on employers and Wisely Pay helps satisfy the needs of workers by offering a banking alternative with numerous funding options, easy cash access, broad purchasing capability, ability to avoid paper check fees and modern financial management tools.
  • Peace of mind: With a 50-state electronic pay program, backed by market-leading expertise and experience in the regulatory landscape, employers can rely on ADP Compliance Solutions, advanced data security and single point-of-contact resolution for all employer support or cardholder issues (e.g. fraud prevention, dispute resolution).

The Wisely paycard will first be available to employers who select to offer sponsored accounts for employees in September 2018 in the United States.