Skills vs Psychological Resources: What do we really need today?
When it comes to upskilling & reskilling in organizations, we often hear leaders talk about skills development. Upskilling an organization is essential for sustainability of business growth and must certainly be taken into consideration. The future of work will require organizations to become learning organizations – those that foster continuous learning, create opportunities for creativity and innovation, opportunities to experiment (even fail if needed), ensure that their employees are future skills ready – AI & machine learning, digital capabilities, data analytics, and other skills required for the specific business to thrive.
And, equally – if not even more – organizations will have to become well-being organizations; and need to consider supporting employees in the growth of their psychological resources. Psychological resources refer to beliefs such as optimism, growth mindset, resilience, sense of purpose, and connection – which are all vital parts of one’s mental well-being.
Burnout, anxiety, stress, and various other mental health challenges are continuously faced by employees in organizations around the globe. This is the silent pandemic that we are just now starting to bring forth in the post-COVID world. Although, it is not something new – we are just now taking actions towards managing this. According to Deloitte Human Capital Trends Report 2020 – over 80% of the 9,000 respondents stated that mental wellbeing is important or very important for their organization’s growth. And finally, we are ready to put some actions behind those realizations and statements. We can no longer ignore the fact that according to some statistics, over 46% of employees globally – across multi-nationals – are living through some of these mental health challenges daily. This impacts directly your business. It is costing organizations in countries like the UK, over 30 billion GBP annually as a result of burnout, absenteeism, leaveism, and mental health challenges.
Organizations need to invest equally in up-skilling in terms of future skills and mental wellbeing support and initiatives. They go hand in hand. And, it does not have to cost an arm and a leg to do so. Check out our recent post about implementing cost-effective strategies for your organization.
Do you want to learn more on developing future skills and build psychological resources in your organization? Let's talk.
Managing Partner @ Bessern