Digital transformation has hit our businesses at warp speed globally. Five-year plans are turbocharged into one-year programs. Leaders need to adjust fast and now, not tomorrow. With digitalization happening at an incredible pace, change management skills, communication strength, and the ability to empathize are a few of the soft skills required in your leadership toolbox.
First, change is not coming; it has already arrived.
For example, in South Korea, a 5-G broadband internet connection is widely available. There is a Starbucks coffee shop on every corner. Yet, historically, South Korean workers prefer to work from a brick-and-mortar office. Until recently, it was nearly impossible to get workers in South Korea to work from home. However, in the recent Ernst & Young's global 2021 Work Reimagined Employee Survey, they discovered that 9 out of 10 employees want flexibility in when and where they work.
We must adapt and change to succeed. This pandemic has forced us all to rethink our strategies. Heather McGowan, a future work strategist, has said, "In work as in life, evolutionary success belongs to those who can most readily adapt."
For example, there are already changes beginning in how we recruit and retain. Candidates already have a checklist of items to think about when considering changing companies. They think of the hiring companies' reputation, the position details, location, compensation, the education system for their children, accommodations and living environment for their family, etc. Now, that checklist has increased. They will add, is this opportunity a traditional employment structure, or will it be in a new hybrid work environment? Do they physically have to move locations? And there will be more questions added to the list. This will make recruitment more difficult for the executive search firm and the hiring company.
You may be wondering, will there be a high turnover in employment after the pandemic gets under control? Because if there is an increase in turnover, my job just becomes more challenging. Well, here is one survey that believes that there will be considerable turnover soon. According to the 2021 Work Trend Index, they project that 41% of the global workforce is planning to leave their employer within the year, and 46% are planning a career transition. Get ready.