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The demand for highly skilled and adaptable professionals has never been greater. As businesses navigate the complexities of the Fourth Industrial Revolution (4IR) and the Digital Era, they require graduates equipped not only with technical expertise but also with the soft skills and innovative mindsets necessary to thrive in this dynamic environment.
This reality presents a significant challenge for higher education institutions, particularly business schools, tasked with preparing students for the multifaceted demands of the modern workforce. From the importance of soft skills to the power of ideation and innovation, he explores how forward-thinking institutions can and should be embracing change, fostering creativity, and empowering graduates to excel in the ever-changing landscape of global commerce.
By Hoosen Essof
Imagine being faced with the task of selecting between two candidates whose academic credentials are equally impressive, yet you can only accommodate one. What criteria would you employ to make this decision?
According to a 2021 Harris Poll survey, 81 percent of businesses prioritise soft skills, such as adaptability, communication and problem-solving, over technical expertise1. These skills enable graduates to thrive in a rapidly changing and competitive business environment.
Generally, employers seek graduates with a diverse set of skills and attributes to meet the ever-evolving demands of the workforce. According to the National Association of Colleges and Employers (NACE)2 and other surveys, employers value skills and qualities such as: leadership, problem-solving ability, adaptability, teamwork, communication, analytical and quantitative skills, initiative and self-motivation. Together with soft skills, these are described as 21st century transversal skills or cross-functional competencies.
In essence, employers are seeking graduates who possess a combination of technical expertise, soft skills and personal qualities that enable them to thrive in a rapidly changing and competitive business environment. These skills and attributes are highly valued and can significantly enhance a candidate’s employability and long-term career prospects. But how do you prepare graduates for the world of work beyond academic achievement?
Disrupt. Rethink. Innovate.
Business schools play a pivotal role in this regard. Institutions must recognise the imperatives of the Fourth Industrial Revolution (4IR) and the Digital Era. Schools should be exploring pedagogical methods that integrate academic programs with hands-on, real-world experiences which at first glance seems out of place for a business school.
Take, for instance, a trailblazing technology-related hub established at Regent Business School called the iLeadLAB, which, in effect, is a Makerspace (a place for making, exploring and using high-tech tools). Through the auspices of these labs, students are encouraged to adopt a hands-on approach and are taught various technological skills that synergise with industry needs, specifically in commerce, finance and business. Five such iLeadLAB’s have been established across various Regent Business School campuses in Southern Africa, each one equipped with laser cutting machines, 3D printers, sublimation equipment, high-spec computers, VR sets, and electronic and robotic kits. In preparing students for the new world through new integrated core curriculums, higher education institutions can equip students with technological skills for a disruptive 21st century.
Hoosen is Essof Head of Employability at Regent Business School
