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Future enterprises will be transformed into ‘metaprises’ as we enter the dawn of the metaverse – a reality that straddles physical, digital, and virtual realms all at once so that they blend into each other.
There has been much emphasis on the need for upskilling in this day and age, particularly those digitally related. Amongst the many skills that have been brought up, one that is gaining popularity would be data literacy – the ability to read, analyse, work and communicate with data.
Today, going beyond the passive consumption of data and analytics, leaders are instead focusing on a state of active intelligence, where data is continuously integrated into working practices to allow organisations to gain access to context-rich, real-time insights that help make informed decisions.
Backed by opinions of more than 1,200 C-level executives and 6,000 employees from Japan, Australia, New Zealand, the US, the UK, France, and Germany, Qlik's new report Data Literacy: The Upskilling Evolution examines what tangible shifts are appearing in the workplace as it becomes more digital and data-driven.
While the data set only included responses from Japan as part of the Asia viewpoint, HRO has pulled out content specifically applicable to Asia-based HR decision makers.
Potential salary increases for employees with data literacy skills
Future workers will be lifelong learners who embrace an iterative, perpetual approach to digitalisation and upskilling. They’ll invest more in themselves, and they’ll be rewarded. Today, over three quarters (78%) of global employees are spending time every month investing in their own personal development – and these employees spend an average of nearly seven hours (6 hours 50 minutes) on personal upskilling each month.
In the future, more of the burden will be on employers to help their workforces learn necessary skills.
According to the study, those who improve their data literacy can foresee rewards on the horizon as C-level executives said they would offer a salary increase for data literate candidates. In Japan, for example, the average salary increase for demonstrable data literacy could be ¥1.28mn annually, while in Australia, this could amount to AU$23,600 per annum. More data is in the chart below:
Metaverse meets enterprise: Metaprise
The study observed that almost half (46%) of employees frequently make decisions based on gut feeling, rather than data-led insight, and the same percentage (46%) don’t always trust that the data available to inform their decisions is up to date and accurate.
As such, the report highlighted future enterprises will be transformed into ‘metaprises’ as we enter the dawn of the metaverse – a reality that straddles physical, digital, and virtual realms all at once, blending with each other.
While this may seem like a distant reality for some, many big companies are already working toward this vision. For example, Hyundai equips its designers with VR headsets that allow them to meet across different geographies and design new car models together, yet remotely.
Not only that, this transition has already manifested itself in such subtle ways for most of us in our current working norms. During the pandemic, millions of employees switched to digital-only modes of communication as a precursor to the metaverse.
The vision of the metaverse strips current limitations of working remotely versus in person through the creation of immersive virtual workplaces where employees can meet and collaborate in new ways.
With the adoption of new technology, new roles may emerge, accommodating the foreign working landscape. For thorough preparedness, C-suite respondents predict several new job roles will appear in just the next five years.
- 85% believe that it will be important to have a Chief Metaverse Officer in charge of employee and customer experiences that straddle digital and virtual realms.
- 86% believe that having a Metaverse Experience Designer, responsible for employee and customer experiences that straddle virtual and physical realms, and who ensures data transfer is seamless, will be important.
- 86% believe a Workplace Environmental Architect, responsible for ensuring all workspaces – physical or in the metaverse – are designed to maximise employee productivity and wellbeing, will be important.
- 87% believe that it will be important to have an Immersion Counsellor who uses virtual and augmented reality to boost mental resilience and wellbeing through guided immersive therapies.
- Over 99% believe the above roles will be hired into their organisation in the next 10 years
Similarly, the study looked into the top new leadership roles that will be commonplace in boardrooms by 2030:
1. Chief Customer Experience Officer
The Customer Experience Officer will be responsible for ensuring that every touchpoint in a customer’s journey with the organisation is optimised, including product design, sales, customer service, the web, and mobile UX.
- 89% of CXOs believe they will hire this position, while 53% of employees aspire to work in the role.
2. Chief Automation Officer
The Chief Automation Officer will oversee the implementation and management of automated working practices and machines in the organisation.
- 88% of CXOs believe they will hire this position, while 50% of employees aspire to work in the role.
3. Chief Trust Officer
The role of a Chief Trust Officer entails enhancing consumer and employee trust in the business. They will ensure that the organisation maintains its ethical values for everything from data privacy and product development to organisational communications.
- 86% of CXOs believe they will hire this position, while 51% of employees aspire to work in the role.
4. Head of Gamification
The Head of Gamification will monitor the ways in which people interact with internal and external digital processes, and identify opportunities to increase engagement.
- 89% of CXOs believe they will hire this position, while 47% of employees aspire to work in the role.
5. Head of Collaboration
The Head of Collaboration will be in charge of eliminating departmental silos. They will be responsible for ensuring that data and insights are shared across the organization, and even outside it, to boost competitive advantage and opportunities for innovation.
- 88% of CXOs believe they will hire this position, while 52% of employees aspire to work in the role.
6. Head of Betterment
The Head of Betterment will work to ensure continual improvement across the enterprise. This will include identifying areas for employee development and learning, opportunities for ongoing improvement of processes and operations, and generally helping their organisation do better. The role includes ESG with the KPI to put purpose at the core of the business, from data usage to supply chain, diversity, and employee wellness.
- 88% of CXOs believe they will hire this position, while 52% of employees aspire to work in the role.
With that being said, there are five best practices around data literacy that organisations could look to adapt right away:
- Champion a data-literate culture supported by active intelligence systems
- An easy way to start would be by thinking about your own skills and mindset. Consider how they could be enhanced or shared, and then initiate a learning programme from the top down. Create an active data culture that embraces the best of humans and machines for better decision-making and outcomes.
- Democratise the right data through tools and literacy
- Empower employees to make better-informed decisions by democratising data usage through training and upskilling, as well as intuitive, interactive tools and customisable interfaces.
- Embrace perpetual learning to keep pace
- Data literacy is a never-ending journey, not a destination. New insights lead to more questions and deeper understanding. Employees and leaders should become perennial students with initiatives in place to evolve alongside technological advances.
- Promote trust in data
- Embrace transparency and responsible governance to enhance trust around the ethical use of data, but also to assure employees that the data they are seeing is the data they need.
- Harness data for continual improvement and positive change
- Work toward sustainable goals and new metrics of progress using systems that deliver involve, support, and produce better insights.
Images / Provided
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