Staying Relevant
Newsweek|December 31, 2021
The pandemic has had widely different effects on executives around the world. There are some strategies, however, that anyone can use to adapt to rapid changes
BORIS GROYSBERG and KATHERINE CONNOLLY BADEN
Staying Relevant

IN TIMES OF UPHEAVAL, SKILL SETS FLUCTUATE. New (or less-frequently used) skills may become more urgently necessary, while well-honed skills may take a backseat

For years, we have studied the skills executives utilize to lead their organizations. The COVID-19 pandemic gave us our first opportunity to examine the impact of a crisis on a global scale. We surveyed over 3,026 executives worldwide in partnership with The Official Board, a global corporate directory of medium and large companies. Thirty percent of respondents were based in the United States, with the remainder representing 120 countries from every continent, except Antarctica. Respondents represented 53 key functions including CEO, CFO, and CIO, and more than 86 industries—primarily banking, insurance, financial services, consulting and telecommunications. Notably, 84 percent of respondents offered text responses that elaborated on their quantitative estimates.

The survey asked two quantitative questions:

On average, what percentage of your skills became obsolete or outdated during the pandemic?

On average, what percentage of your skills became obsolete or outdated

The survey asked two quantitative on a yearly basis before the pandemic? We found the average rate of skill obsolescence increased by 71.7 percent during the pandemic, a remarkable increase. But an average is just that; the variance is where the story gets more interesting.

Trends by Country, Industry, and Position

COUNTRY

This story is from the December 31, 2021 edition of Newsweek.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the December 31, 2021 edition of Newsweek.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM NEWSWEEKView All
Bridget Everett
Newsweek US

Bridget Everett

BRIDGET EVERETT NEVER THOUGHT SHE'D BE THE LEAD OF A TV SHOW. \"I come from the downtown world in New York, a cabaret singer, and these things just don't happen, you don't find yourself with three seasons of HBO.

time-read
2 mins  |
November 08, 2024
Amber Ruffin
Newsweek US

Amber Ruffin

A LATE-NIGHT COMEDY SHOW ON CNN? YES, and it's a game show, too.

time-read
2 mins  |
November 08, 2024
Lights, Camera, Civil Rights Action
Newsweek US

Lights, Camera, Civil Rights Action

Legendary director Spike Lee tells Newsweek about promoting social justice through his storytelling and why he's been urging people to get out and vote

time-read
6 mins  |
November 08, 2024
AMERICA'S BEST CUSTOMER SERVICE 2025
Newsweek US

AMERICA'S BEST CUSTOMER SERVICE 2025

CUSTOMER SERVICE IS A CORNERSTONE OF A GREAT SHOPPING experience.

time-read
3 mins  |
November 08, 2024
TACKLE THE ISSUE: AHEAD OF THE GAME
Newsweek US

TACKLE THE ISSUE: AHEAD OF THE GAME

A third of former NFL players believe they have a chronic brain condition linked to football. A new blood test could help

time-read
10+ mins  |
November 08, 2024
RUSSIA-UKRAINE WAR: Murder on the Front Line
Newsweek US

RUSSIA-UKRAINE WAR: Murder on the Front Line

Russian troops killing more and more Ukrainian captives, in breach of the Geneva Conventions, is a bloody new tactic in the ongoing conflict

time-read
6 mins  |
November 08, 2024
George Lopez
Newsweek US

George Lopez

GEORGE LOPEZ HAS DONE A LOT IN HIS LONG CAREER. BUT NOW, WITH NBC's Lopez vs Lopez, George knows what's most important \"is the people you get to be around and get to talk to.\"

time-read
2 mins  |
November 01, 2024
Asher Grodman
Newsweek US

Asher Grodman

ASHER GRODMAN IS PERFECTLY FINE PLAYING a ghost on CBS' Ghosts who walks through the afterlife without any pants. \"I don't really want to die in the state that Trevor died.

time-read
1 min  |
November 01, 2024
Last Rodeo for 'Yellowstone'
Newsweek US

Last Rodeo for 'Yellowstone'

The hit TV series is set to conclude without main man Kevin Costner, but his onscreen son Luke Grimes is convinced viewers will be surprised and satisfied by the season finale

time-read
6 mins  |
November 01, 2024
SURVEY SAYS...
Newsweek US

SURVEY SAYS...

Exclusive polling for Newsweek on key issues highlights where presidential candidates DONALD TRUMP and KAMALA HARRIS need to win votes to succeed to the White House

time-read
10+ mins  |
November 01, 2024