In the aftermath of the pandemic, the world of work stands altered and businesses find themselves in the midst of economic, social, and environmental risks. The global economy has not only been dramatically influenced by COVID-19, but also by major geopolitical events. There are loud murmurs about an economic recession along with the ongoing war crisis, global inflation, and steadily growing threat of climate-related instability that will impact every business — as a result, leaders are faced with an additional but urgent responsibility to step up and do better.

Keeping all these factors in mind, it is safe to say that leaders (and organizations) of the future will have to shed many of their old models, behaviors, and skills; identify, learn, hone, and adopt future-ready skills and capabilities. In preparing for the future, leaders will have to immerse themselves in training and learning to push their boundaries, frequently operating in unfamiliar environments, and putting their skills, as well as their readiness, to the test.

Leadership skills: The next level

While some leadership skills will always be foundational, the future demands more. The next five years will witness tremendous changes on all fronts and leaders will be expected to ensure that their businesses thrive during this transformative and volatile period. In the coming years, what leadership skills will be vital to business success? Read on to find out.

1. Be digitally strong

   According to a survey of 10,000 business leaders across the globe by PwC, it was found that 37% worry that automation is putting jobs at risk, whereas 74% are ready to learn new skills to navigate the digital workplace and remain employable in the future. Today, leaders across the C-suite and not just the CTO or CIO are expected to understand the fundamentals of rapidly advancing technologies, like AI, machine learning, and quantum computing. For leaders to own and drive the automation debate, it is important that they possess a depth of understanding and keen insight into the changing technology landscape. But leveraging digital is not just restricted to intelligent machines, right? The world we operate in is becoming increasingly connected and this brings an equal number of opportunities and threats. As more businesses go global, cybersecurity will climb to the top of the priority list, with leaders sharing the responsibility with IT and HR to safeguard the company against cybercrime. Finally, meaningful innovation is impossible without being sensitive to the nuances of technology and understanding how it impacts the business.

   
   

2. Lead with emotional intelligence

   While sophisticated technology can do a lot of things, a quality that machines do not yet possess is emotional intelligence. In the tech-driven future of work, having leaders be more ‘human’ will have a distinct impact on the well-being of the workforce and consequently, the business. Skills and traits like empathy, authenticity, and communication, will play a significant role in building trust within the organization. The pandemic is the most recent example of the difference empathetic and transparent communication makes in fostering loyalty and a feeling of belongingness among employees. Even amid unavoidable layoffs in the recent past, leaders who found a way to communicate with compassion and clarity minimized the reputation damage to their companies and themselves. Emotional intelligence will be one of the most essential skills for future leaders—especially because it aids leaders in coaching and mentoring their teams, enabling them to successfully navigate the myriad changes headed their way.

   
   

3. Think collaborative

   Collaborative leadership is rooted in strong business values like diversity and inclusion, innovation, trust, and ownership. It is also the need of the hour. To a large extent, the future of our world is dependent on how swiftly and efficiently we come together as organizations, collectives, and individuals to take action against environmental and climate risks. To enable constructive collaboration, leaders must learn when and how to create a safe space for others to make their contributions. It also means that leaders need to practice active listening and build a sense of awareness that helps in identifying relevant ideas. It is important to keep in mind that powering a culture of collaboration would mean letting go of conventional notions of hierarchy as well as frequently stepping outside one’s comfort zone. Leading by example, business leaders should demonstrate how to drive such collaborative initiatives.

   
   

Be future-ready

Leaders need to embrace a learning orientation that empowers them along with their organizations to be more innovative, adaptable, and prepared for disruption. The key to remaining relevant is to keep evolving and finding the most impactful ways to do so. It is essential that leaders of the future immerse themselves and their teams in the right training, practicing new skills and behaviors to prepare for an uncertain tomorrow.