Why Soft Skills play a vital role in career progression?

There’s been a steady shift in management styles over the last decade or so. The numbers-driven, dictatorial leader is slowly dying off, clearing the way for those with emotional intelligence, compassion, and trust in their teams – especially in knowledge-based sectors where creative problem solving and abstract thinking are key.

Be it a Leadership team or an entry level executive, soft skill development is for all and every individual needs to upgrade their soft skill from time to time.

This shift is also pronounced in business schools and professional learning and development initiatives, where there’s now a much heavier emphasis on soft skills – communication, learning agility, resilience, curiosity, and empathy, as well as the traditional hard skills.

It’s been a welcome change, but it’s not enough yet.?[Given their import, we should rebrand ‘soft’ skills to ‘power skills,’ but for ease of understanding in the meantime, let’s stick with the widely understood terminology.]?Soft skills might be?all?that matter.

Mindset Is the Foundation for Building Soft Skills

“Mindset before skill set and tool set” is a concept that should be brought further into the spotlight. In today’s working environment there’s so much rapid movement within and between daily tasks that our hard skills are often found wanting, at least in the short term.

This is where mindset – and a?growth mindset?in particular – becomes key. If you don’t have the belief that you can learn, and the self-awareness to source the tools to?do the learning, it’s difficult to be a valuable team member.

After all, it’s our mindset that serves as the foundation upon which we build our skills and ultimately, our success. When our mindset is right, we’re much more capable of focusing on acquiring the skills and tools that we need.

What Is a Growth Mindset Really?

“Growth mindset” has become one of the loudest buzzwords in the corporate landscape, but as is often the case with such phrases, its true meaning can become lost in the noise.

Psychologist Carol Dweck defined the term in 2015, stating, “In a growth mindset, people believe that their most basic abilities can be developed through dedication and hard work – brains and talent are just the starting point. This view creates a love of learning and a resilience that is essential for great accomplishment.” In short, we can get better with effort.

There’s much more to the growth mindset though. Those with a growth mindset also appreciate self-efficacy i.e., our belief in our capacity to control our daily lives. They act in a way that helps them reach their goals. They also appreciate diversity of thought, understanding that it’s better to receive input from multiple sources, as well as good old-fashioned humility – accepting that we don’t have all the answers.

People who display a growth mindset are much more likely therefore, to have key soft skills like curiosity and persistence, as well as effective communication, collaboration, and problem solving.

In a 2022 interview with the?Harvard Business Review ?Julie Sweet, Chair & CEO of Accenture, referenced “learning agility” as the single most important skill the company looks for when hiring, “One of the most important things that we look for actually, no matter who you are, is your ability to learn, learning agility. Because we know that while we may hire you for a certain set of skills, the rate of change and the need for skills is quite rapid.”

How To Leverage Mindset & Soft Skills in The Corporate World

Hiring, in-house L&D, and our own management styles should all be executed and developed with mindset at the forefront, rather than hard skills which can quickly become outdated.

Hiring For Mindset

Instead of carrying out behavioral style interviews, one of the most effective methods of hiring for mindset is “topgrading ” – a practice used to identify core soft skills as well as hard skills. Since topgrading is a much more in-depth style of interview, following chronological order from as far back as high school and into the future, it can allow hiring teams to learn more about how candidates really feel about successes, challenges, failures, ambitions, rather than simply the things that they’ve done. It is used to great effect by companies large and small, from GE to e*Trade and the American Heart Association.

Training For Mindset

Mindset and soft skills are admittedly not straightforward things to teach or train, but they?can?be modeled, encouraged, and nurtured. After all, mindset is not simply a manifestation of the things that we do, but of the meaning we make from them.

Asking both ourselves and our team members what we?really?want to get out of each training session, for example, is a simple and effective way of fostering self-awareness, problem-identification, and curiosity – all foundations for a healthy growth mindset.

It’s also important to be open to different learning styles when conducting training. Some yield greater results working alone on digital training courses, others thrive and grow in team-centric, discussion-based formats. Encouraging team members to figure out what works best for them and?sharing?that feedback with their seniors allows leaders to maximize the positive impact from training for the individual, their team, and the company as a whole.

Managing For Mindset – Humility & Empathy Are Key

People fail all the time. Failing one’s way to success is the topic of countless thought-leader’s articles, TEDx talks, and motivational speeches. It’s okay to fail, as long as true effort was made, we have the self-awareness to work on correcting mistakes, and the resilience to pick ourselves up.

Managers need to understand this, not just for themselves, but for the people they manage. We must become comfortable with failure, both our own failures (we don’t have all the answers after all) and those of our team. Effort should be recognized just as much as outcomes. If we want the people we lead to work hard, then hard work must be acknowledged, even if the end result goes against us.

The payoff from being humble and empathetic in your leadership is the culture that it creates. Trust is nurtured, self-efficacy is reinforced, and inevitably, performance improves.

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.?