The concept of culture varies depending on who you ask, but one thing remains true—organisational culture is a key factor in any company's success and sustainability.
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Employee Experience (EX) is moving from the sidelines to the core of business planning within companies, according to TI Peoples State of EX Study 2023/2024. However, there are also notable barriers leading to less than half of all companies managing their EX to the best of their abilities. The biggest issue being calculating the financial impact of EX efforts. With EX teams partnering least with finance, this is not surprising.
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An ongoing struggle for people analytics is the translation of insights into impactful actions. As Piyush Mathur put it on the Digital HR Leaders Podcast: insight without action is just overhead. The imperative to demonstrate impact is becoming urgent, because people analytics teams have received significant investments in the past several years, often growing while the rest of HR stagnated or contracted. Making recommendations is not sufficient; impact is created through action.
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No matter what industry vertical you are in or what role in HR or people analytics you hold in a company, everything you do at work is to solve the pressing issues of your organisation. But are we solving these issues the best that we possibly can? Are we really focusing on what is essential? More importantly, are we taking a holistic view of the evidence around us?
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Two of the key findings from the Insight222 People Analytics Trends Report for 2023 are: influence, developing relationships with C-suite and senior stakeholders is essential to deliver on key business priorities and value, measuring and delivering value, from people analytics efforts, is key for the impact of the function. Given the importance of these two topics for the field of people analytics, Influence and Value were the key themes for the Insight222 Peer Meeting in London.
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As the economic climate continues to shift and technological advancements reshape industries, people analytics has become an essential tool for businesses to stay competitive and make informed decisions. Our Insight222 People Analytics Trends 2023 research: “Investing to Deliver Value: A New Model for People Analytics” is a testament to this, revealing that from 2020 - 2023, people analytics has grown by 43%, with 51% of the organisations surveyed admitting to increasing their team size in the next 18-24 months.
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This blog underscores the transition from reactive to proactive HR practices, advocating for a data-driven culture that not only listens to but truly understands employee sentiment, enabling targeted interventions and a more nuanced approach to talent management. With predictive analytics and sophisticated algorithms, HR is empowered to anticipate and address potential issues before they escalate, positioning analytics not as a fleeting trend but as a cornerstone of future HR success.
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The progression of business success has always been an intriguing narrative of innovation and strategic planning. From the days of the Industrial Revolution to the digital age, companies have relied on their ability to adapt and evolve to thrive. However, one factor has always remained constant: people.
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Leaders need to be emboldened to continue to think outside of the HR box, to use emerging tech rather than fear it, and to utilise the unique skills of a multigenerational workforce. However, understanding what trends will drive the future of work is one thing - understanding how leaders put these trends into practice is the key to success. To help you on your way, we have put together some great examples of the top HR trends and predictions of 2024, and have provided some actionable tips on how to put them into practice.
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Insight222’s People Analytics Trends study for 2023 finds that people analytics continues to grow despite a challenging global economy. Our research has substantially increased in size over the years, and this year is no exception. Over 270 companies provided data for this study.
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