Technological advances like AI, the gig economy, shifting social values, massive globalization, and worker empowerment – these factors are deeply impacting what the future of work will look like. 50% of the occupations that exist today, won’t be around in 2030.
Given this context, leaders are looking at addressing three key business challenges:
- The economy and technological landscape are changing so fast, that the products and services in demand today, could phase out tomorrow. How can companies stay adaptable, and innovate?
- The focus of the workforce has shifted away from money or prestige, and towards impact and self-improvement. What’s the best way to recruit such talent, and continue to train them to constantly reskill/ upskill as job requirements change?
- Given the above two challenges, what would work-life balance and wellness look like for everyone? What steps do we need to take to prevent burnout?
The challenges have made their way to organizations and businesses of all sizes. The ask is big of leaders. What skills do they need, to meet these head on?
To find out, LinkedIn Learning interviewed four of today’s top leaders: Arianna Huffington – Founder of The Huffington Post, Reid Koffman – Founder of LinkedIn, Bill George – CEO of Medtronic, and Ryan Holmes – CEO of HootSuite. Here’s the verdict:
- A sense of purpose. Though thought to be something we’re born with, Huffington believes that purpose is a skill that can be nurtured within an organization, so that employees can internalize what the company stands for – beyond the profits.
Where does it start? With a leader who is open, sharing, true-to-their-values, compassionate, committed to motivating employees and, possessed with courage to make bold decisions.
- Nurturing talent. When it comes to millennials and Gen Z, they want ownership over their roles, purpose in their work, and learning opportunities to advance their career. Else, they will disengage.
The recommendation from Hoffman: to frame jobs as entrepreneurial ventures, with the employee and management forming an alliance to grow together. Once that growth stagnates the employee may move on. This will not only build your employer brand, but also lead to a lifelong relationship with that person. It is all about being a launch pad for an amazing career.
- Social media. According to Holmes, 61% of Fortune 500 CEOs have no social media presence at all – and that’s a mistake. “If there’s a communication channel where your employees, customers, competitors, investors, partners and stakeholders are all spending their time, you should try to be there.”
Also, through different platforms, business leaders can accomplish the first two skills – make their purpose known and highlight how their organization delivers on that. And that is great for the company’s employer brand, which helps them attract and engage the absolute best talent.
Sharpening these skills will require some learning on everyone’s part, and Bill George urges leaders to not rest in what they already know. Charging into new territories will be a win-win, and will help create a culture where leaders are good to themselves, their employees, and the world.