Wednesday, October 20, 2021

For the future must develop both technical skills and soft skills

 There used to be tech and nontech jobs, which is no longer relevant now. The jobs are well integrated with technology. So, the finance professionals for the future must develop both technical skills and soft skills. Both skills are equally important; we need to have a blend of both.
Being strategic is a foremost skill the current professionals should develop. With automated solutions or robotics deployed to perform transactional jobs, finance professionals should focus on enriching their profile to focus on capabilities like strategic thinking, proactive monitoring of the external trends, and stakeholder engagement. The more these collaborative skills and proactive thinking skills are executed on the ground, the better results we can generate for the organisation.

Finance technical skills are the next set and include business modelling, process design, cost optimisations, and core financial data analysis. This is what finance professionals have been traditionally known for, and this will still be the heart or foundation of the growth as a finance professional.
Proactive monitoring and proactive thinking are supported through analytics, technology, and data. The capabilities like data modelling, robotics, strategic trend analysis, research capabilities, or programming are the technical skills the finance professionals should harness.
The last ones are the behavioural skills — service management capabilities, relationship capabilities, impactful storytelling. Programme management skills are also important with so many moving parts in the organisation and with the ever-changing macro environment. Some of the other behavioural skills that need mention here are feedback communication, negotiation, and developing talent in the organisation.

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