3 Reasons Soft Skills Benefit the Bottom Line
Thursday 03 February 2022
Organisations today are doubling down on hard-skilled talent. However, a recent study by Stanford Research Institute found that over 75% of long-term job success depends on soft skills. Here are three reasons why attributes like emotional intelligence, leadership traits and adaptability bring tangible value to the team.
Developing soft skills equips each member to handle unpredictable or challenging situations with maturity and professionality. This promotes stronger team bonds to build healthy work cultures for less costly turnovers. “Making great hires is about recognising great matches,” explains Patty McCord, former chief talent officer at Netflix, “and a candidate may have skills that can’t be measured by salary surveys.” Here are 5 expert tips to promote the right behaviours and work habits on your team.
By encouraging soft skills development, we consistently and continually improve talent density while expanding business capacity. This builds efficient workflows for better performance and higher-quality output to profit the organisation. A study by Deloitte showed that "soft skill-intensive occupations will account for two-thirds of all jobs by 2030.” The survey also found that stronger soft skills in the workplace could increase revenues for the average business by more than $90,000. Here are the top 5 soft skills that will be in high demand in the near future.
When it comes to creative output, technology advancements still fall short of replicating our attributes. The “people” component remains a key driver to profitability, particularly when navigating the link between business and ethics. Find out how Fortune 500 companies value, cultivate and reward soft skills for business success.