What is meant by Societal Value in the context of people analytics?

In the context of people analytics, societal value refers to advanced outcomes that focus on aspects such as inclusion and equality within the workplace. This perspective on analytics emphasizes how data-driven decision-making can lead to improvements not just for the company’s bottom line, but also for promoting diversity and creating an equitable environment for all employees.

People analytics goes beyond traditional metrics that primarily measure financial or performance outcomes. It recognizes that the well-being of employees and their equitable treatment within an organization can significantly influence overall company culture, employee satisfaction, and retention rates. By leveraging analytics to understand and enhance inclusion and equality, organizations can better align their goals with broader societal expectations and contribute positively to the community and workforce.

Other options focus on financial outcomes, employee performance metrics, or profitability without addressing the importance of societal contributions and ethical considerations in the workplace. Thus, focusing on societal value highlights a more holistic approach to human resources and organizational success.