3.1 The Leadership Impact: Driving Data Culture and Talent Retention
According to our survey, a resounding majority of data leaders believe that senior leadership involvement significantly influences various aspects of their organisation's data landscape.
By senior leadership involvement, we mean buy-in, support and active championing of a data team and and their work.
This involvement is particularly notable in these 3 areas:
Fostering the growth of junior data professionals: An overwhelming 91% of respondents agree that active involvement of senior leaders in data initiatives has a positive impact on fostering the growth of junior data professionals, signalling the importance of leadership in nurturing budding data talent.
Attracting new data talent: With a staggering 90% consensus, it's clear that senior leadership's involvement enhances the organisation's appeal to prospective data professionals. This highlights the significance of leadership visibility in signalling commitment to data-driven practices and innovation.
Retaining skilled data professionals: 86% of respondents recognise the pivotal role of senior leadership in retaining skilled data professionals within the organisation. This underscores the importance of creating an environment where data experts feel valued and supported.
Dr Alex De Castro, Senior Teaching Fellow and Data Scientist at Imperial College Business School, a strategic apprenticeship partner of Corndel's, confirms the impact that senior leadership can have:
"As we navigate an era where new technology, notably AI, outpaces the rate at which many can adapt, senior leadership's role becomes increasingly critical. By fostering an environment that not only supports but also leverages AI to integrate and translate cross-domain knowledge, leaders can cultivate a workforce that is both versatile and proficient. Such leadership not only aids in retaining skilled data professionals but also in attracting new talent, as it demonstrates a commitment to cutting-edge practices and ongoing professional development."
But it's not just about leadership involvement; it's also about providing clear pathways for career growth.
Fortunately, the majority (89%) of respondents perceive their organisation's career paths for data professionals as clear, defined, and accessible. This clarity in career progression translates into a positive impact on talent retention, with 9 out of 10 respondents acknowledging its significance.
The data reveals a compelling narrative: senior leadership involvement isn't just beneficial; it's indispensable. By championing data initiatives and offering clear career pathways, organisations can not only attract and retain top data talent but also cultivate a thriving data culture that drives success in today's data-driven landscape.
3.2 Forecasting Demand: AI and Beyond
The anticipation of growth in the data sector steered by AI advancements and a digitally driven economy sparks optimism among data leaders.
The adoption of cloud solutions and the expanding role of data across various business functions were highlighted as key factors driving this demand.
Yet, lurking beneath this enthusiasm are concerns about bridging the AI skills gap and mitigating professional burnout – crucial considerations for sustaining growth.
Data leaders expressed concerns about the gap between AI advancements and the availability of qualified candidates. Issues such as professional burnout and the need for additional skills and qualifications were identified as potential hurdles. Worries persist about data privacy protection and cybersecurity, with apprehensions about the potential impact of AI on job availability and security.
"The future demand for data skills, intensified by rapid advancements in AI, calls for a proactive approach from our leaders to bridge the skills gap and address professional burnout. Effective leadership must not only anticipate the skills needed for tomorrow but also create robust strategies to nurture and retain talent. This involves implementing comprehensive training programs and fostering a work environment that prioritizes mental health and well-being, thereby ensuring that our human capital remains vibrant and competitive in a digital economy."
Dr Alex De Castro, Senior Teaching Fellow and Data Scientist at Corndel’s Apprenticeship Partner Imperial College Business School.