October Newsletter 2023

Balancing Hard & Soft Skills: Gen Z's Quest for Workplace Success

In the modern job market, where adaptability is paramount, Gen Z is revolutionising the skills landscape. Recent news suggests that this generation is making hard skills their primary focus. The practice of faking proficiency in Excel or PowerPoint to secure a job and learning on the fly is no longer acceptable to them. Gen Z believes they should be better equipped with the skills employers really desire.

While there has been much emphasis on sharpening soft skills in the wake of the pandemic, Gen Z's priorities are shifting. They are determined to bridge the gap in technical abilities, recognising their growing importance in the workplace. A recent survey by Adobe reported that 48% of Gen Z respondents expressed their desire for more hard skills training, surpassing the 33% seeking additional soft skills training.

The challenges posed by the pandemic have had a noticeable impact on everyone's social skills, particularly in professional settings. Managers are concerned about the soft skills of the newest entrants to the workforce, who missed out on traditional schooling and graduated into a remote work environment. The gap between the skills employers believe their youngest employees need and the skills they genuinely require is clear, with 28% of Gen Z’ers feeling that their current roles fall short of utilising their full skill set.

Additionally, a Dell Technologies' international survey reveals more than a third of Gen Z’ers believe their education has not provided them with the digital skills essential for ascending the corporate ladder. Surprisingly, 56% admitted to receiving minimal to no digital skills education.

Gen Z, while growing up with technology at their fingertips, still lacks the specialised training needed for today's tech-savvy workplaces. The pandemic disrupted the development of soft social skills, while the education system overlooked hard tech skills, leaving a substantial skills gap. And employers, increasingly emphasising skills-based hiring, must recognise the necessity to enhance all-round skills training.

Evaluating candidates based on their abilities rather than their educational backgrounds is becoming an increasingly popular trend. With Gen Z being considered the most educated generation, they have always believed that college is the key to success. However, the high cost of higher education makes it less attractive, especially when they feel they lack the essential skills required for their desired career path.

As a result of the pandemic, soft skill development has become a challenge. And the educational system has failed to adequately prepare students in technical competencies, putting Gen Z at a crossroads.

Perhaps a stronger focus on hard skills training will provide the necessary tools for Gen Z to navigate the complexities of today's job market successfully. Nonetheless, balancing hard and soft skills remains pivotal for both individual growth, and the long-term success of organisations.

Statistics Unveiled: How EI Drives Workplace Success

Emotional Intelligence (EI) is a critical skill with far-reaching implications in personal and professional areas. Recent statistics shed light on the significance of EI in the workplace and how it can shape the trajectory of one's career.

Surprisingly, only approximately 36% of individuals worldwide are considered emotionally intelligent. This statistic underscores the vast untapped potential for growth and development in this crucial area. The good news is that companies recognise the importance of EI, with 42% of them now offering specific training to help their employees cultivate emotional intelligence.

The consensus among HR managers and employees is resoundingly clear – emotional intelligence is a must-have skill for every team member. Around 95% of HR managers and 99% of employees recognise its importance. However, according to the Niagara Institute , fewer than 20% of companies qualify as emotionally intelligent despite the recognition.

Furthermore, 68% of organisations lack formal tools to identify, develop, or leverage EI. This gap represents a significant opportunity for companies to invest in their employees' emotional intelligence, as organisations that prioritise and extensively use EI are 3.2 times more effective at leadership development.

The financial implications of EI are remarkable. Research by TalentSmart reveals that individuals with high emotional intelligence earn an average of $29,000 more annually than those with lower EQs. Every point increase in emotional intelligence adds approximately $1,300 to an individual's yearly salary. These figures highlight the tangible benefits of honing EI skills.

Emotionally intelligent companies also exhibit a higher degree of empowerment and risk tolerance. They report enhanced customer experiences, increased customer loyalty and advocacy. These outcomes underscore the ripple effect of EI in creating positive, customer-centric environments.

The business world acknowledges that long-term job success relies heavily on people skills, with 75% of Fortune 500 CEOs attesting to this fact, while only 25% attribute to technical knowledge.

The data speaks volumes – emotional intelligence is a linchpin of personal and professional success. Elevating one's emotional intelligence and fostering it among employees is not just a beneficial choice; it's an imperative one. The statistics are clear: higher EI leads to superior achievements and better life outcomes. Investing in emotional intelligence development is an investment in the future of your career and your organisation.

Navigating the AI Revolution in Learning and Development

AI integration in Learning and Development (L&D) represents a significant shift in how we approach education and skill development. While AI technology has existed for some time, L&D relied predominantly on face-to-face learning until the onset of the COVID-19 pandemic. However, the post-Covid landscape forced L&D to adapt, leading to a surge in digital learning. According to a CIPD study , 48% of L&D professionals reported increased use of digital learning.

Adapting to the rapid changes in this industry is challenging. L&D has undergone substantial transformations in recent years and continues to evolve. Generative AI, a novel and promising development, brings plenty of opportunities to L&D and organisations. Yet, learning teams are rightfully cautious and seek to understand its potential before implementation.

AI offers more than conventional digital learning. It drives the shift from passive content consumption to interactive, personalised learning through conversational interfaces. This integration allows L&D to harness the benefits of face-to-face learning in the digital realm. Learners can practice specific behaviours, focusing on areas crucial for their work and addressing skills gaps effectively.

Adopting AI is crucial for L&D to stay relevant in an ever-evolving landscape. It's not just a passing trend but a fundamental shift. Collaborating with AI experts, inside and outside the organisation, is essential. With AI support, L&D can address business challenges swiftly and effectively by providing personalised, meaningful learning experiences. Now is the time for curiosity and exploration, to work with technology partners to reshape the approach to learning and development. Embracing AI isn't just a choice; it's a necessity for the future of L&D.

Neoskill News

We are actively seeking an experienced and enthusiastic Trainer to join our team . With a primary focus on face-to-face training, you will have the opportunity to impart essential power skills, elevate emotional intelligence, and nurture leadership capabilities. Join us in our mission to empower individuals and organisations through personalised, in-person training. Your journey begins here at Neoskill, so contact us to find out more.

Our new-look website, launched at the beginning of this month showcases case studies, training methodologies and our portfolio of popular courses. Be sure to check it out and contact us if you have any training or any consultancy needs by heading to www.neoskill.com

We are happy to welcome another new client, a well-known car manufacturer, to our portfolio of clients. Expanding our client base to provide power skills and systems training to more organisations. ?

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If you’d like to discuss any training or consultation needs for your team(s) or organisation, please?get in touch .