Future-proof careers need these skills and trainings
You don’t have to be a sci-fi movie buff to anticipate what the world around you is going to look like in the future. Future technologies like Artificial Intelligence and Machine Learning are already in prevalence and here to stay.
You don't have to be a sci-fi movie buff to anticipate what the world around you is going to look like in the future. Future technologies like Artificial Intelligence and Machine Learning are already in prevalence and here to stay. Are B-Schools doing enough to enable management students to imbibe the required skills and become future ready?
Digital disruptions have already had a huge impact on diverse industries. According to a Harvard Business Review report, a whopping 90% of industries claim to have a digital strategy in place. Studies have revealed that by 2025, most industries will be completely digitalised. So where does it leave managers with degrees from leading management schools?
Liz Bentley, founder of the eponymous leadership consulting firm says, 'Change is happening rapidly and more than half of today's occupations will not exist by 2025. The industry is indeed in a state of flux but as some of the experts, at conclaves I've had the privilege to be a part of, have said, "It doesn't mean managers will be replaced by machines."
Workspaces all over the world are changing irrespective of the technological impact. Past hierarchies are being smashed with the growing millennial workforce and so are international boundaries. Tomorrow's managers will have to work in an increasingly collaborative environment, and they will need these skills to make their mark in their chosen careers.
Studies suggest that managers spend more than 50 per cent of their time handling administrative responsibilities. In the near future, AI will be taking over these tasks, which means managers can be more productive in devising strategies for their businesses. But as experts say, managers will also need to adapt to the evolving relationship between machines and humans. Embrace new technologies, or be left out in the future.
Innovative That managers need to possess out-of-the-box thinking is a given. If you want to climb the success ladder, you will need to take things to the next level. And for every organisation, big and small, that step up is Innovation. From manufacturing to marketing, innovation will be the way forward. Managers will have to take the initiative for innovation, and back it up with solid execution with the requisite skills they have been trained for.
International consulting firm Deloitte revealed that more than 40 per cent of employees look for stronger communication with the management. Workspaces will have to adjust to the needs of employees, which will result in top-down structures transitioning to alongside, collaborative environment. In fact, the collaboration will be the workspace innovation for all organizations, and managers will need to perform in the changing landscape efficiently.
Comfortable in working with different demographics
The demographics of the corporate workforce are changing dramatically across age and geographical boundaries. Gen Z will be making its way into the corporate environment. Globalization will lead to more diverse teams working on projects and towards a common goal. While some managers will revel in these diverse environments, others will struggle. The key lies in training, sensitivity to cultural differences, and the willingness to embrace the new.
Yes, the future will be driven by technology, but it won't be a dry and cold, emotionless future. Far from it, according to human resource pundits. They believe that in times to come, teammates will further rely on each other for support at the workplace. Millennial and Gen Z professionals will have their own demands from the workplace. As a manager, you will need greater insights into what works for teams, and it will come from your emotional intelligence.
The way technology drives us, in future even today we do require self-discipline, everyone requires maintaining balance in life between family and work, both are very important. The same can be developed by developing Patience, Response Double Check, Breathing Exercise, Belief, Discipline.
(The author is Director, FORE School of Management)