We felt like sharing with you some points raised in an interesting article, that recently appeared in “The Actuary”. How are the new technologies and the distance-working, generalised by the need to contain the pandemic, are affecting your own profession? Do you agree with this approach? Do come back to us with feedback.
“As professions recognise that their members need a wider and more holistic skillset to face the demands of the 21st century, ‘soft’ skills are starting to feature prominently in the professional’s toolkit. In the future, employers will look for professionals who can demonstrate these skills. Chief among these competencies will be emotional intelligence, a growth mindset and, perhaps most importantly, the ability to embrace change. What does this mean for actuaries in practice? And how can they apply it to their careers?
All professionals know that the future of work will be very different. They will work for longer, move jobs more frequently and potentially shift careers.
A survey last year revealed that more than 50% of respondents believed skills and competencies will need to change in all areas of the professions. Technological developments, changes in regulation and societal factors will be the most significant drivers. When asked what they thought would be the most important competencies in the next five years, respondents consistently identified ‘soft’ skills as being most critical, including qualities such as agility, adaptability and the ability to communicate.
Alongside this, is the growing recognition that responsibility for developing careers sits with the individual.
Reflective practice is a significant and meaningful way in which individuals can focus on what they want to achieve professionally. It allows an individual to think through their ambitions and career aspirations consider their strengths and weaknesses, and compare these with the skillset they will require in the future. It creates a longer-term perspective to help identify career goals and, if there are gaps in their competencies, direct them to the place in which they can access the required professional development.
A passion for professional learning needs to start early in a professional’s career. A qualification process needs to expose early-career professionals to the most contemporary content that is relevant to their futures. This means instilling a growth mindset and a desire to keep learning. Qualification must also assess new professionals based on the skills and competencies they will need to demonstrate in the future.
This will ensure that newly qualified professionals have both the kills that are appropriate for the contemporary world of work, and the growth mindset they will need to continuously reinvent themselves professionally in what will be a rapidly evolving working landscape.”