The past decade has been a momentous one for the world of technology. New technologies took birth on the foundation of data, and faster, more effective methodologies emerged on the shoulders of past achievements.
While these technological advancements have contributed towards IT becoming a most sought-after job profile, the rate at which these technologies are evolving has drastically reduced the lifecycle of technical skills over the years. Today, professionals belonging to all job levels, including C-suite, must continuously up-skill with the hottest tools and technologies to stay relevant in their careers.
According to a study by Deloitte, the relevance of a learned skill is about ten years. This means that the skills that potential leaders learned to gain an industry qualification could well already be obsolete.
Hence, getting to the C-suite should not be the end of a leader’s growth and learning. Everyone in the workforce - from managing directors to senior managers need to upskill their knowledge constantly to keep up with digital skills relevant to their jobs to strategize better for their organizations.
Here is why an investment in learning is a must for C-suite and senior executives.
Staying ahead of the competition
The introduction of innovative technologies is transforming the way we do our jobs. These technologies have created an environment which requires every professional to stay ahead of a technology trend, otherwise, they’ll be left behind. In such a scenario, corporate leaders can no longer view upskilling as an interruption of work, instead, it needs to be woven into their daily routine.
New skills, especially in emerging technologies can no doubt help combine a leader’s experience with relevant knowledge, empowering them to innovate across products, people and processes. Upskilling in new technologies such as AI, big data, cloud, blockchain at the leadership level helps anticipate trends and set appropriate long-term goals for the business.
At Edureka, we have observed that 11.4 percent of our learners across technology categories fall under the senior band of 10-15 years of work experience with a substantial chunk belonging to C-suite and leadership roles and one of the most popular courses amongst these experienced professionals is Blockchain. According to an analysis we conducted a few months ago, here is the customer split for Blockchain courses at Edureka: senior managers/lead positions (27 percent), architect (13 percent), consultant (13 percent), analysts (13 percent), leadership (8 percent), blockchain professionals (3 percent), finance (2 percent), security (2 percent), and others.
“In a workplace, the employee-manager relationship is the key driver for employee satisfaction. The millennial workforce expects their managers and leaders to be more of a mentor and less of a boss.”
This goes on to show that the need for up-skilling is no longer limited to mid and entry level job profiles. Senior managers and leaders have come to see up-skilling as a step towards retaining the competitive edge for themselves and the organizations they represent.
Enable effective team management
In a workplace, the employee-manager relationship is the key driver for employee satisfaction. The millennial workforce expects their managers and leaders to be more of a mentor and less of a boss. Leaders who embrace new technologies and ideas carry their teams with them, making the transition easier for the business not to mention the example they will be setting for the rest of the organization.
In today’s technology-first world, leaders at the highest levels need to have a close understanding of how technology can impact their organization and this understanding requires the transition from C-suite to digital-suite. Simply put, an organization helmed by leaders who understand, foresee and practice the technology has greater chances of becoming a trailblazer.
In summary, adapting to workforce trends and embracing the upcoming technologies will help leaders to weather the digital storm with greater ease. A strong leadership is critical to driving a business forward. And in today’s complex and constantly changing digital workplace, leaders are exposed to more opportunities than ever before.
Hence, the time is ripe for top line executives to prepare and empower themselves with new-age skills for the next decade of growth.
Vineet Chaturvedi is Co-Founder, Edureka
Disclaimer: This article is published as part of the IDG Contributor Network. The views expressed in this article are solely those of the contributing authors and not of IDG Media and its editor(s).