The World Economic Forum introduced the Future of Work and it has been the talk of the corporate town. From McKinsey to MIT, experts have been understanding how the future of work will shape our day-to-day intricacies and how our emerging leaders need to be groomed. But, let us take a step back. What exactly does the term “Future of Work” mean?
What is Future of Work?
In the most basic sense, the future of work refers to the projection or prediction of how the working style will evolve in the coming years. C-suite employees, leadership development professionals, and HR professionals must understand the scope, possibilities, and learn the development that is happening on a daily basis that could transform the way we work. Technology, indubitably, will be leading the transition into the future of work. But keeping up with technology is not enough for an organization to prepare its leaders for the future.
With an increasing role of the gig economy and remote work, things are rapidly changing. Research suggested that 85% of the jobs that will exist in 2030 have not even been invented yet! Essentially, there are three components to be considered. Who will do the work, how it will be done, and where it will be done.
With part-time employees, contract/project-based professionals, and freelancers, organizations are expanding beyond their full-time workforce. As we incorporate AI, automation, and robotics, the way we work is changing as well. Furthermore, hybrid work environments, flexible schedules, and co-working spaces are also changing where we work from. So, let us explore the crucial skills that every leader must be equipped with in the transformation.
6 Critical Skills Leaders Need to Thrive :
- Strategic Thinking
The changing world demands organizations to adapt quickly. Leaders have to be future-ready and plan their strategies in a future-proof approach. Data-driven strategies are important when it comes to planning long term. Of course, along with the technical skills around data, your leaders must also be proficient at Strategic Decision Making. We are often invited to organizations to help their leaders learn the art of planning, strategizing, and decision making. - Planning
Designing a corporate plan is a step above creating the strategy. This will include an entire structure of the business model, revenue streams, budget, required resources. To do so, it is essential to ensure that the leaders are aligned to the organizational vision. Planning well also requires the consideration of the company culture, values, and missions. Visionary leaders who understand the importance of collaboration and culture will thrive through the change as we approach the future of work. - Analytical Ability
In the information age, we come across a tremendous amount of data. The ability to deconstruct, comprehend, and organize the data is known as analytical ability. Leaders must understand how to break down a large amount of data and leverage it to drive critical thinking, logical reasoning, decision making, as well as creativity. The future of work will incorporate technology in a major way. Subsequently, we will come across more data, hopefully organized, but demanding to be analyzed and utilized. That’s where leaders come in. - Efficiency
Getting more work done by working less is becoming the goal of organizations. Whether it is people or systems or processes, efficiency is what everyone seeks to improve. Leaders, in addition to being efficient themselves, must also learn to enhance the performance and efficiency in their teams, systems, and processes. - Execution
A lot of organizations have ambitious visions. In fact, almost all of them do. Few, however, achieve the vision or even walk on the path. Because they lack in execution. Leaders have a vision. The managers fail to execute it. It can be possible because of a number of reasons – lack of effective communication, improper collaboration, or teams working in silo mindsets. We have helped the leaders and managers of organizations across the world strengthen their strategizing, execution, and alignment to organizational culture and vision. - Flexible Thinking
Change demands adapting to new technology and new lifestyles. Leaders must be quick on their feet and change their processes along with time. Moreover, they must cultivate a culture that encourages flexible thinking. In addition to change, flexible thinking also involves creativity and innovation. It asks leaders to step out of the status quo and seek a different approach.
Take some time to reflect. Is your organization future-ready? If not, what is your plan to make them? Let’s get in touch and explore how you can develop these critical skills and create an organization that will lead the future.
