Interestingly, this research has also sparked discussions on who holds the responsibility for scaling data literacy across HR, which we explore in our article Who Holds the Responsibility for Scaling Data Literacy Across HR?
Measuring the ROI of Employee Development
Building upon the theme of upskilling and data literacy, it's important to also focus on measuring the ROI of employee development. As professionals in the HR sector, we know all too well that investing in employee training and development is crucial for an organisation's long-term success.
But with senior executives increasingly asking (and expecting) HR to demonstrate the value of these investments, our article on measuring the ROI of employee training and development has been one of the most popular reads this year.
Delivering Greater Value for the Business Through People Analytics
At its core, people analytics is about delivering greater value for the business. Our 2022 research, Impacting Business Value: Leading Companies in People Analytics, is a testament to this. Leading Companies (organisations that drive the most business impact through people analytics) have consistently shown better financial performance, higher employee engagement and retention rates, and overall greater success compared to their less data-driven counterparts.
This is why, in 2023, we have seen a surge of interest in articles on delivering greater value for the organisation with people analytics and the growing influence of people analytics in strategic business decisions.
And this trend will only continue as more and more organisations recognise the importance of incorporating data-driven insights into their decision-making processes.
Challenges to Building Data Literacy
If there is one thing we have identified as a common theme this year, it's the challenges of building data literacy within HR. From understanding the technical aspects of data analysis to gaining buy-in from senior leadership, organisations face various hurdles when trying to build a culture of data literacy.