You probably already know through experience that many of the highly ranked functions (i.e. retention, onboarding, leadership development, and managing talent) have high business impacts. However, you might have been surprised to learn that many functions that HR frequently “champions” like work/life balance, becoming a strategic business partner, and restructuring the organization all have relatively minor impacts compared to the top ranked functions (note: statistically, correlational studies like this one show a direction but they cannot prove cause and effect). And sadly, the lowest-ranked function of them all, managing an aging workforce, actually had a negative impact on profit growth (meaning that if you invest in it, you will actually hurt your firm).