Thrive in the age of disruption: Bounce forward with Adaptability
November 30, 2023
Imagine waking up one morning to find that your job has disappeared. Overnight, your industry has been disrupted by a new technology or a new competitor. You’re not alone. In the age of disruption, this is a reality that many people face. According to a recent study by McKinsey & Company, 800 million jobs could be displaced by automation by 2030.
A recent article in The New York Times reported that “the pace of disruption in the workplace is accelerating” and that “workers need to be prepared for their jobs to change rapidly.”
But what if you could thrive during change? What if you could develop the skills and competencies necessary to navigate the ever-changing world of work?
This blog is for you. It will show you how to develop adaptability, leadership, and personal growth, the essential ingredients for success in the age of disruption. So, buckle up, and get ready to bounce forward in the age of disruption!
Along the way, we’ll draw from the invaluable insights of seasoned leader Mr. Moonish Sood, COO of Banking and Capital Market, Genpact who has had a wealth of experience in these areas.
Continuous Learning: The Lifelong Journey
Continuous learning is a cornerstone of adaptability. It’s not something that ends when you leave school or earn a degree; it’s a lifelong process. According to a report by the World Economic Forum, by 2022, at least 54% of all employees will require significant reskilling and upskilling.
Mr Sood underscores the importance of developing a growth mindset—a belief that abilities can be improved through effort and feedback. As he aptly puts it, “Learning is a journey, not a destination.”
To embark on this journey, you must actively seek out learning opportunities, such as online courses, workshops, podcasts, books, and mentorship programs. By doing so, you can expand your knowledge and skills, ensuring you remain relevant in an ever-changing work environment.
Mr. Sood’s insights echo the need for this proactive approach, advocating for an unwavering commitment to continuous improvement.
Authentic Leadership: Fostering a Culture of Growth
Adaptability also requires authentic leadership. Authentic leaders, as Mr. Sood emphasizes, treat their team as a family and act as mentors, supporting their career growth. In this context,
Mr. Sood’s insights shed light on how authentic leadership can build trust, loyalty, and engagement among team members. He points out that managers play a pivotal role in employee engagement, influencing as much as 70% of the variance in engagement scores.
To cultivate authentic leadership, it’s vital to communicate your vision and values clearly and consistently. By inspiring your team to follow these principles, you foster a learning culture in the workplace.
True leadership can also help your organization attract and retain talent, a fact supported by a LinkedIn survey indicating that 94% of employees are more likely to stay at a company that invests in their learning and development, contributing to both employee satisfaction and employee engagement.
Incorporating a strong learning culture in the workplace ensures that your team is equipped with the necessary skills through training and development programs, including employee training programs, leadership training for employees, and professional development training for employees. This commitment to continuous learning and development creates an environment where employees thrive, contributing to the overall success of the organization.
Harnessing Diversity: The Power of Differences
Diversity is another key facet of adaptability. Leveraging the collective power of diverse individuals within global teams is a recipe for success.
Mr. Sood’s extensive experience managing diverse teams including a focus on gender diversity in the workplace is a testament to the value of diverse perspectives, experiences, and identities.
The benefits of diversity are not just anecdotal; they are backed by research.
A McKinsey report shows that companies in the top quartile for ethnic and gender diversity are more likely to achieve financial returns above their industry averages.
By respecting and appreciating differences, you can enhance creativity, innovation, and problem-solving in your team.
According to a report by McKinsey, companies in the top quartile for ethnic diversity are 35% more likely to have financial returns above their industry average. Similarly, companies in the top quartile for gender diversity in the workplace are 15% more likely to have financial returns above their industry average.
Harnessing diversity also helps you understand the needs and preferences of various customer segments across different regions and cultures. This understanding can be a game-changer for your business, enabling you to tailor your products and services to suit diverse markets.
Work-Life Balance: Sustaining Success
Work-life balance is a critical aspect of adaptability. It’s the equilibrium that allows you to thrive at work and in your personal life. Mr. Sood, drawing from his vast experience, advocates for balance. Statistics from Stanford reveal that working more than 50 hours per week can lead to decreased output and quality and working over 60 hours per week increases the risk of illness and injury.
Maintaining work-life balance enhances creativity and innovation. By taking breaks, pursuing hobbies, and spending time with family and friends, you can refresh your mind and generate new ideas and insights. Moonish highlights setting boundaries, managing your time, and saying no to distractions are key principles to maintaining a healthy work-life balance and mental health.
Capability Development: A Dual Effort
Finally, capability development is an essential aspect of adaptability. It’s about encouraging both organizational initiatives and individual efforts to develop skills and capabilities for career growth and success.
As Mr. Sood emphasizes, it’s not just an organizational responsibility but a personal one as well.
Capability development increases employability and career opportunities. By acquiring new skills, you enhance your value to potential employers or clients. You also build confidence and self-esteem by achieving milestones and overcoming challenges.
Mr. Sood’s insights emphasize the importance of setting clear career goals and actively participating in your growth.
In conclusion, the world of work is changing rapidly, and to thrive in your career, you must be adaptable, a leader, and committed to personal growth. Continuous learning, authentic leadership, harnessing diversity, work-life balance, and capability development are the pillars of success in this dynamic landscape. Following these principles, as endorsed by Mr. Sood’s invaluable insights, can help you not only survive but thrive in your career.