By professor Tapan K Nayak

The corporate world is in a perpetual state of flux and innovation. The dynamic nature of industry and business has particularly been amplified by the Covid-19 pandemic, which has changed the paradigm through the penetration of digital technology in all spheres of businesses. Today, managers and entrepreneurs have to sharpen their existing skills and also up-skill and re-skill to cope with the changing requirements of the industry in the current VUCA environment. 

Here are some important skills that will help to build competency and meet the job requirements of the industry post-pandemic:

Emotional Intelligence: Beyond the business acumen, one needs a practical work-based approach that uses emotional intelligence to foster better engagement with all stakeholders, make calm and informed decisions, optimise performance and handle organisational needs efficiently and effectively. 

Flexibility and Adaptability: Resilience has been the biggest lesson from the pandemic. Using research, technology, and innovative practices, managers have been able to adapt to the constantly changing business ecosystem and make quick decisions pertaining to products, services, their pricing, marketing and concepts. Research by McKinsey shows that adaptability is the critical success factor during periods of transformation and systemic change.

Crisis Management: Crisis management has been considered the most sought-after skill in the business world where disruptive practices are driving the competition and unprecedented crisis such as Covid-19 have had a shakedown effect on businesses. Now, managers need to be all the more adept in anticipating, identifying, controlling or preventing a crisis situation through effective contingency plans. 

Data Analysis: Data is the new proverbial oil, and competency in Data Analytics goes a long way in fostering business value. Algorithms glean relevant data from the copious amount of information available and empower data analysts to arrive at conclusions to drive an organisation’s growth, solve problems, innovate, introduce new products, capture more market, recall products, improve customer acquisition, enhance customer experience, improve employee performance and even revamp organisational structure. As a result, data-driven decision-making will be the trend going forward. 

New-age Competencies: Some of the most needed skills during the current time are Cybersecurity, Machine Learning, Artificial Intelligence, Data Science, Business Analytics, Cloud Computing, Internet of Things (IoT), Blockchain, Big Data Engineering, on which one must thrive to stay ahead in a highly competitive environment.

Problem-Solving Skills: Among the skills that always stay relevant for jobs is the problem-solving ability of an employee. One must have sharp critical thinking skills to analyse problems and have both the alacrity and competency to arrive at timely solutions. Design Thinking is a handy practice towards this end.

Proficiency in working from remote areas: The conventional definition of the workplace has changed. Working remotely is the new normal irrespective of the sector. As a job-seeking candidate, one must be competent to work remotely. The candidate needs be proficient in using digital tools and platforms such as G-Suite, Zoom, Teams, etc. to be able to meet all requirements of modern jobs. 

Virtual Networking: All businesses are created out of networks, both within and outside of the organisation. Decentralisation, delegation, departmentalisation, communication, and coordination take place within well-formed virtual networks in today’s age. Virtual networking is a highly desirable skill for those who want to excel at their jobs. 

Creativity and innovation: Thinking out-of-the-box has been the main catalyst of disruptions in the industry. New-age workers, managers, and businessmen have to think on their feet to be creative and innovative at their jobs. Innovation and creativity today lie in trying out new ideas, taking risks, experimenting with technology and business models. 

Digital Competency: Basic digital literacy, especially adeptness in word processing and spreadsheet programs, such as Microsoft Word and Excel, put one at a significant advantage at a workplace. Employees are expected to have these important skills to complete important tasks such as reporting, compiling spreadsheets, or writing letters. In some domains, such as marketing, proficiency in using social media is a skill highly relevant to the changing job requirements of the current industry.

The author is director Jaipuria School of Business.

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