Managers Will Need These Skills in the Coming Years
The business landscape is changing because of rapid technological advancements, globalization, and economic factors. The acceleration of this phenomenon during the COVID-19 pandemic has changed how people work; it has also made certain skills more relevant in the post-pandemic workplace. The increased usage of tech tools such as artificial intelligence and machine learning has taken over some tasks previously performed by humans and introduced a new set of roles.
Moreover, the old system’s hierarchal and traditional workplace structure is changing because of millennials replacing baby boomers and moving into managerial roles. These rapid developments are creating a demand for new skills.
Because of the immense competition in the job market, it is important to be compatible with what the current work environment demands. Here are 4 skills that will help you thrive in the future workplace.
Technology shapes how companies operate and innovate. In the coming years, technology adoption will increase so that no field will remain unaffected. In the coming years, companies that adopt AI will be 10 times more efficient and have a bigger market share than those that don’t. The prevalence of technology will create new opportunities as well as challenges, and managers should be familiar with them so they can embrace new developments. Some of the tech skills managers will need include the following:
- Artificial Intelligence: Using AI in businesses can help automate and simplify repetitive tasks. It will also play an important role in innovating and implementing new ideas. Chat GPT is one such example.
- Data analytics: Data is a huge asset for modern companies. Proper data analysis and interpretation will help make informed choices and strategies, which can give a great competitive advantage.
- Tech management: The future of work is heavily dependent on technology. Managers will need a good understanding of online platforms such as Zoom, Fiverr, LinkedIn, etc., for better performance and staying competitive.
If you plan on taking up a managerial role in the future, it is important to be up-to-date with the current technological trends and workplace practices. There are many MBA programs online that help professionals learn practical applications of business concepts and develop relevant skills to meet the demands of modern recruiters and companies. These programs also offer the convenience and flexibility that comes with distance learning.
Soft skills have always been essential for managers, and their significance is increasing. These include a variety of skills that are important in every industry. These include:
- Communication: This is crucial for managers as it makes it easier for them to convey ideas, give feedback and discuss problems with their employees. It also helps in coaching workers and helps bring down communication gaps and misunderstandings. Effective communication also helps in negotiating and dealing with customers and investors.
- Leadership skills: Gone are the days of egocentric managers who controlled things their way. With more millennials and Gen Z in the workplace, a more empathetic style of leadership is required. Being more adaptive and transformable is the way of the future, as it encourages creativity and focuses on personal growth.
Working on soft skills is important as they are harder to attain than technical skills. 44% of executives believe Americans lack the soft skills required to do their job well. Some ways through which can help improve soft skills are:
- Doing honest self-assessments
- Being open to feedback and change
- Practice active listening
- Doing frequent public speaking
Result-only Work Environment (ROWE) Approach
ROWE is a style of management that focuses on workers being evaluated on their performances and outputs rather than their presence in the office. This approach is effective with the current dynamics of working, which are increasingly focusing on remote working and freelancing rather than physical presence and strict working hours. As of 2022, 36% of the workforce in the United States participates in freelance work.
There are multiple benefits of adopting a ROWE approach:
- Managers create a more accommodating work environment for employees. This increases productivity and gives greater job satisfaction.
- By shifting the focus on results and not how to obtain them, ROWE increases creativity by allowing workers to utilize their strengths and skills.
- Ensures workers are moving in the same direction, hence smoother teamwork.
- It also helps attract talented individuals in the competitive job market due to good work-life integration.
Managers need to build the culture and infrastructure of the workplace to be compatible with the ROWE approach. This requires technological tools, developing guidelines, and a culture of trust. Once again, soft skills such as effective communication and conflict management are required.
Emotional Intelligence (EQ)
The ability to understand your own emotions and those around you falls under emotional intelligence (EQ). While intelligence quotient (IQ) has been a strong center point for determining academic abilities, EQ is a more realistic indicator of success in the workplace. For managers, EQ holds great importance in both ways, for their dealing with employees and their behavior.
By understanding the condition and perspective of each worker, EQ helps to build strong relationships and an emotionally supportive environment. It also helps in resolving conflicts between workers and finding mutually beneficial solutions.
The future will see many changes in both white – and blue-collar jobs. These changes will give rise to opportunities as well as challenges. Even with the introduction of technological tools, dealing with the human side of things will always be relevant, and a new set of skills will be more in demand. To thrive in this rapidly changing workplace, managers must develop these diverse skill sets that revolve around a more flexible, result-oriented, and understanding approach. These skills will help their businesses deal with the challenges more effectively.