The Importance of Upskilling Leadership In A Digital Economy

Now more than ever the role of technology in the future of the workplace is a top priority.

A recent Gartner survey stated that 54% of HR leaders indicated that poor tech and/or infrastructure was the biggest barrier to effective report working.

From employee wellbeing to proper communication and a sustainable workplace environment. Technology will continue to be driving how we come together (physically and from afar) as we navigate through this pandemic.

Becoming technologically resilient will be the key differentiator between those people and companies who learn from today but prepare for tomorrow.

CURRENT STATE

Recent studies all show that those leaders that had the critical tech skills pre-COVID have done remarkably better than those who didn’t.

• Emerging & senior leaders are underestimating what it will take to win, and to lead, in the digital economy.

Digitalization, upstart competitors, the need for agility, and an increasingly diverse and demanding workforce will require more from leaders than what most can offer.

 According to a recent MIT study:

• 12% of respondents strongly agree that their leaders have the right mindsets to lead them forward.
• 40% agree that their companies are building robust leadership pipelines to tackle the demands of the digital economy.
• 48% agree that their organizations are prepared to compete in digitally-driven markets and economies.
• 82% believe that leaders in the new economy will need to be digitally savvy, less than 10% of respondents strongly agree that their organizations have leaders with the right skills to thrive in the digital economy.

Companies need to empathize with their leaders and provide them the necessary tools and building blocks to thrive in this uncertainty. Organizations must empower leaders to change their ways of working to succeed in a new digital economy.

In the book "Leading in the Digital World: How to Foster Creativity, Collaboration, and Inclusivity" Amit Mukherjee argues that since digital technologies are changing everything else, how could they not change leadership ideologies and styles?

Guess what…he’s right.

FUTURE STATE

As more and more people around the world exert their leadership and participate equally in business, the existing mold of a leader's profile is slowly becoming irrelevant. This disruption is calling for a new breed of leaders. Ones who will emphasize creativity, collaboration, and inclusivity.

Due to the disruption of this pandemic, leaders must learn to collaborate in a multiverse of networked organizations, working with co-located and non-co-located peers and employees. Leaders must lead for creativity rather than productivity.

According to Dan Shapero, Chief Business Officer at Linkedin the future of leadership will in this new economy will boid down to:

• Do they build great teams?
• Do they understand the implications of technology on the business?
• Are they able to adapt to the speed at which business is happening?
• Can they operate at a high level and a low level simultaneously?
• And do they have the ability to build trust across the organization to get things done?

?IN SUMMARY

It doesn’t take much to begin. Organizations can start with the right tools necessary to upskill their leaders and ensure digital dexterity as we navigate the new.

As we move forward into an uncertain workplace, work environment, and workforce the role of leaders will shift from managing talent to inspiring and engaging people as members of a community of leaders.

Leadership will be tested and leaders must upskill to prepare for this shift navigating new social norms and blind spots. Creating the conditions for successful leadership starts with setting the right tone and developing the right mindset from within oneself.

History will look back on this moment of time and success will be measured by the depths of a leader’s character and their ability to navigate the liquid workforce while creating an inclusive culture where people feel heard, appreciated, and empowered to lead.

The Floor Is Yours: 

How important is upskilling

your leadership right now?

Joshua Miller is a Master Certified Executive Coach, who sets up Fortune 500 emerging and senior leaders for future success by upgrading their mindset, skillset, and performance so they can lead with purpose.

??  Follow Joshua Miller For More | Let’s Connect: www.JoshHMiller.com 

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