Several interesting pieces of research were published this week. They included insights from ADP, Medius, Qualtrics and UKG. Tipalti also sponsored a state of the eSports industry report. Precisely commissioned a report from BARC that looks at the future of data architecture. It identified a disconnect between business users and data specialists regarding the state of data and analytics in their organisation. HighSpot revealed that the recent cost of living rises are the greatest concern facing Marketing and Sales executives. The European State of Sales and Marketing Alignment 2022, shows that Sales and Marketing are still largely disconnected, and it argues for greater collaboration and connected systems.
ADP
ADP published its September National Employment Report. It found that private-sector employment rose by 208,000 in September, and annual pay rose by 7.7%. However, as Nela Richardson, chief economist at ADP, noted, “We are continuing to see steady job gains. While job stayers saw a pay increase, annual pay growth for job changers in September is down from August.”
The report’s detail is interesting, with 29,000 jobs lost in product industries offset by the 237,000 gained in services, of which 147,000 were added in the trade/transportation/utilities sector. Job changes saw a slightly lower increase in September, a rise of 15.7% (August 16.2%).
Medius
Medius published some insights about invoice fraud across the UK and US markets. The results were comparable with around £295,000 lost yearly in the UK, according to finance professionals and $300,000 in the US.
The Financial Professional Census looks at the key challenges faced by finance executives. The report is based on a survey of 2,750 senior finance executives across North America, Europe and Asia. It identifies four problem areas:
- Rising fraud
- Late supplier payments
- Strained relationships with procurement
- The retention of talent
Jim Lucier, CEO, Medius, said, “Invoice fraud is on the rise, while global supply chains are becoming more complex. Finance and AP teams face numerous challenges in an increasingly complex business environment. They need technology to move from automation to elimination – eliminating the invoice, fraud, and wasted time on needless manual tasks. As a technology provider, we still have work to do to help them solve these challenges and we’re 100% focused on doing just that.”
The report delivers a mix of data, graphics and insights within its fourteen pages. It highlights some interesting contrasts. While 81% offer early payment discounts and 98% say they would take advantage of these, only 39% of organisations do. The authors argue that the process is the problem. That may be simplistic. Interestingly, inflation may increase this age-old problem.
Qualtrics
Qualtrics has published its 2022 destination workplace report. It found that flexibility is one of the top things job seekers prioritise. In 2020 it was one of the least important, ranking below company values and having fun. Not everything has changed, though, with compensation remaining top of the list. With greater transparency on pay, workers can also see whether they are paid fairly. The report studies the factors that influence job seekers and has some interesting takeouts for employers.
Qualtrics Chief Workplace Psychologist Dr Benjamin Granger commented, “The increased availability to choose when and where we work opened up opportunities for employees across the country, especially for those who have caretaking responsibilities or disabilities that make working in a traditional office more difficult to navigate. Employee expectations have increased, perhaps permanently, and offering at least some measure of flexibility may now be table stakes.”
Tipalti
Tipalti sponsored the latest STWS Esports & Gaming Market Report 2022. The report reveals the state of the global esports, gaming and streaming markets. Thirty esports and gaming industry leaders were interviewed on the greatest challenge currently facing the sector, overhyped and overblown trends from the last 18 months, and emerging developments driving growth across the industry. The experts also identified 20 startup and scaleup companies that impressed with their innovation.
It highlights six main findings:
- Esports need to diversify revenue
- Esports must leverage the creator economy in the future
- Valuations of eSports firms continue to rise
- Gaming and Live Streaming revenues are likely to fall as the pandemic effect ends
- Integrations of blockchain will develop
- The metaverse and immersive experiences are the next big thing
Paco Suro, GM of Global Partner Payments at Tipalti, commented, “We are really interested to see how more B2B companies start to engage meaningfully with Web3 and the metaverse. We power some of the most creative and innovative companies in the digital world to enable creators, influencers, photographers, artists and musicians to really focus on what matters to them most and that’s their craft. So we’re asking what kind of presence could or should we have and what is the benefit going to be to our company and our customers. How can we enter this next stage of modern technology and how can we do it in a way that stays authentic to our brand and to what got us to the point we are at today?”
UKG
The UKG Workforce Activity Report for September 2022 shows very slight movement in workforce activity for the seventh consecutive month. The total number of shifts worked by people at U.S. businesses is down -0.3%, and the monthly index is unchanged from August, holding at 97.6%.
Dave Gilbertson, vice president of UKG, commented, “We are seeing a level of consistency in the labor market not experienced since late 2019 and early 2020. Although employee turnover and inflation are historically high, the very slight month-over-month movement in workforce activity provides a glimmer of stability in an unstable economy. Healthcare shift volume increased for the first time since February, and manufacturing saw one of its strongest months since September of last year. With no indication of widespread layoffs among the hourly workforce, we expect the September 2022 jobs report to again highlight very modest employment gains. Still, employers will continue to feel the impact of a tight labor market as demographic dynamics prevent the labor gap from closing, increasing the risk of employee burnout as we enter Q4.”
