The Importance of Soft Skills in the Modern Workplace

Why Soft Skills Matter in the Workplace

Welcome to the new world of work! The COVID-19 pandemic has transformed the way we work, requiring businesses to navigate remote work, digital technology, and increased diversity. However, success in the post-pandemic workplace requires more than just technical skills. Soft skills, such as communication, teamwork, and adaptability, have become critical to thriving in the ever-changing landscape of modern business.

According to a study by LinkedIn, 92% of talent professionals believe that soft skills are just as important, if not more important, than hard skills. Shockingly, only 37% of employers feel that their entry-level employees have the necessary soft skills. The disconnect between the importance of soft skills and the lack of investment indicates how far we have to go. Without developing essential soft skills, businesses risk losing out on increased productivity, stronger interpersonal relationships, and more innovation. The future success of businesses depends on investing in the development of these critical skills among employees.

This article explores the benefits of developing soft skills, provides actionable tips on developing them among employees, and delves into some of the essential soft skills needed to succeed in today's workplace. The post-pandemic world has made the importance of soft skills more apparent. Are you ready to adapt and thrive? Let's explore the world of soft skills together!

The Benefits of Developing Soft Skills

Developing soft skills can bring many benefits to your organization, such as:

• Increased efficiency and productivity: Research conducted by Boston College, Harvard, and the University of Michigan has shown that soft skills training in communication and problem-solving can boost productivity and retention by 12% and deliver a 250% return on investment (ROI) to the company. In addition, studies have also demonstrated that leaders with strong soft skills can increase their team's performance by up to 30%. By improving communication and teamwork skills, employees can collaborate more effectively with co-workers, managers, clients, and other stakeholders, while preventing misunderstandings, conflicts, and errors that can negatively impact productivity and performance.
• Stronger interpersonal and professional relationships: Employees with high emotional intelligence can recognize and manage their own emotions and those of others. They can empathize, build rapport with others, motivate themselves and others positively, and more. These skills can help employees improve relationships with colleagues, customers, supervisors, and other stakeholders.
• Improved retention rates: People want to work for companies that prioritize their growth and development. According to a study conducted in the UK, 63% of employees would consider changing their employer if offered a job at a company with more training opportunities. Additionally, companies can save on recruitment costs with increased staff retention. According to SHRM's 2021 Employee Benefits survey, 60% of organizations reported that learning and development opportunities are very important for employee retention, and 34% reported that they are somewhat important. By investing in soft skills development, companies can retain their employees and create a culture of continuous learning and growth.
• More innovative solutions: According to a study by Hendarman and Cantner, developing soft skills such as creativity and problem-solving can lead to individual innovativeness. This, in turn, can enable employees to generate new ideas, products, and services that add value, solve problems, and ultimately help the organization stay ahead of the competition while meeting customer expectations. Furthermore, companies that prioritize innovation experience 2.6 times higher revenue growth and 2.5 times higher profit margins than those that do not, highlighting the importance of fostering a culture of innovation through the development of soft skills.
• Company growth: Investing in the development of employees' soft skills can lead to a more engaged workforce, resulting in higher profitability and growth. Studies show that companies with highly engaged employees outperform their competitors by 147% in earnings per share and have a 90% better growth trend.

How to Develop Soft Skills Among Your Employees

Developing soft skills among your employees requires a strategic approach that involves:

• Assessing current levels of soft skills: Before designing any training program, you need to know what skills your employees already have. A 360-degree assessment, self-assessment, or peer assessment can help you identify areas where they excel and where they could use some extra support. This will allow you or their coach to create a personalized development plan that caters to their unique needs and preferences.
• Providing relevant and engaging development: Once you know what skills your employees possess, create a development plan that's as unique as they are! Offer a variety of formats, such as online courses, workshops, webinars, and coaching sessions. Coaching is a game-changer for personalized attention and guidance. It's also a super effective way to help your employees reach their full potential. Make sure your training content is practical and interactive, and don't forget to mix it up with some fun and engaging training content. Trust us; your team will thank you for keeping things fresh and exciting!
• Measuring outcomes and impact: After providing any training program, measure its outcomes and impact on your employees' performance and behavior. You can use various methods such as surveys, quizzes, feedback forms, observation reports, and more. These methods can help you evaluate if your training program met its objectives, improved your employees' soft skill level, and had any positive effects on their productivity, quality, customer satisfaction, and more.

Examples of Soft Skills and Their Importance

Soft skills, also known as interpersonal skills, are becoming increasingly important in the modern workplace. Employees who possess strong soft skills are better equipped to work effectively with others, communicate clearly, and adapt to changing circumstances. Here are some examples of soft skills and their importance:

• Adaptability and flexibility: In today's fast-paced work environment, employees who can adjust to unexpected changes and embrace new ways of working and learning are highly valued. By developing adaptability skills, employees can stay relevant and effectively meet the evolving needs of their companies. For instance, they can learn new software skills or attend workshops to acquire new knowledge and skills.
• Problem-solving: Good problem-solvers are better equipped to identify the root causes of problems and develop effective solutions. As the workplace continues to evolve, the ability to solve problems creatively and efficiently will be an increasingly important skill for employees to possess. They can attend training sessions or read books on creative problem-solving.
• Communication: Good communication skills involve active listening, clear expression, and the ability to convey ideas and information clearly and concisely. In today's global and virtual work environment, communication is key to building relationships with colleagues and customers, avoiding misunderstandings, and resolving conflicts. Employees can improve their communication skills by taking courses, attending workshops or seeking feedback on their communication style.
• Teamwork: Collaboration is becoming increasingly important in the modern workplace. The ability to communicate, share ideas, and work towards common goals is essential in creating an effective and efficient team. Employees can develop their teamwork skills by volunteering to work on projects with colleagues from different departments or backgrounds or participating in team-building activities.
• Emotional intelligence: High EI can lead to better decision-making, improved relationships with colleagues, and increased productivity. It is also important for leaders to have high EI as they are responsible for managing and motivating their teams. Employees can develop their emotional intelligence by taking courses or workshops on emotional intelligence, practicing mindfulness or seeking feedback on their behavior.
• Leadership: Good leaders inspire, motivate, and guide their teams towards achieving their goals. They also lead by example, set clear expectations, and create a positive and inclusive work environment. Employees can develop their leadership skills by attending leadership training programs or seeking out mentorship opportunities.
• Time management: Being able to prioritize tasks, set goals, and manage time effectively can lead to improved performance and less stress in the workplace. Employees can develop their time management skills by using time-tracking tools, prioritizing their tasks, or adopting the Pomodoro technique.

By developing these soft skills, employees can increase their value to their organizations and improve their chances of success in their careers. Employers can also benefit from investing in soft skills development, as it can lead to a more engaged, productive, and satisfied workforce. Moreover, employees who possess strong soft skills tend to stay longer in their jobs and have higher job satisfaction compared to those who do not possess such skills.

Conclusion

In conclusion, the importance of soft skills in employee development cannot be overemphasized. While hard skills are important, it is the soft skills that truly set employees apart and enable them to excel in the workplace. Companies that invest in the development of soft skills can reap numerous benefits, including increased productivity, improved employee satisfaction, and enhanced customer experiences.

SkillCycle's Personalized Approach to Developing Soft [Essential] Skills

At SkillCycle, we are big believers in the power of developing soft skills to promote personal and professional growth. We offer a comprehensive and personalized approach to soft skills development, tailored to each employee's unique needs and goals. Here's how we help employees develop their soft skills:

Assess Current Levels of Soft Skills:

At SkillCycle, we assess employees' current levels of soft skills through various methods, such as 360s, self-assessments, and feedback loops. Our assessments are designed to identify the employee's strengths, areas for improvement, learning style, and preferences. This allows us to create a personalized training plan that meets their unique needs.

Provide Relevant and Engaging Development:

Our Learning Experience Platform & Coaching Marketplace at SkillCycle foster the human-to-human connections people experience in live learning settings. Our coaching marketplace provides personalized coaching sessions to enhance leadership, emotional intelligence skills, and more. This more authentic engagement connects performance tools that drive your people's personal development goals alongside your company's goals to produce actionable data for which you, your people, and your C-suite are clamoring.

Measure Outcomes and Impact:

Our Workforce Insights bring together your people data and organizational data so you can tell the whole story, in a way that even your CFO will understand.

But why stop at just telling a story? Our Goal Tracking and Performance Management helps you measure the impact of your soft skills development programs, so you can watch engagement improve and skills gaps close. So, let SkillCycle help you turn data into stories and watch your team grow and thrive!

Written by Justin Dile, SkillCycle's VP of Client Solutions, who's all about helping businesses achieve their goals through effective talent management.

Got questions on how SkillCycle can help your organization develop a culture of continuous learning and growth? Contact Justin directly at [email protected] or book a meeting here.