How you can better position yourself to succeed in today’s economy

Only a third of college students report having a great college experience, according to the 2022 Connected Customers Report. A key finding of the report was how prepared students felt for the future of work. Almost half (47%) of students said they chose their institution for their career prospects, but only 11% felt very well prepared for the job. Students who feel well prepared are four times more likely to have a great college experience. In addition, almost half of the students surveyed (49%) plan to continue their studies in a higher education institution after graduation.

Better use of technology to enable flexible learning patterns was also critical to student success. Students with an excellent experience reported having easy online access to data and resources (86% excellent experience vs. 49% poor experience), services available via mobile (82% vs. 61%), positive digital experiences (81% vs. 36%), access to sharing platforms (80% vs. 57%) and personalized experiences tailored to their needs (60% vs. 11%). More than half (57%) of staff expect flexible learning to increase in the near future.

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To better understand what universities and colleges are doing to prepare students for the future of work, I reached out to Lily Awad, adjunct teacher and senior associate director at Babson College’s FW Olin Graduate School of Business. I also visited Babson College to meet and collaborate with their graduate students. Babson College has held the No. 1 entrepreneurship ranking for its undergraduate and MBA programs (US News & World Report) for more than two decades, and has been named the best college for business majors (Money Magazine ).

Here are Lily Awad’s tips and insights on how students and professionals can better position themselves to succeed in today’s economy and the future of work:

It’s true, technology will change our future. In fact, we are already experiencing this change, especially in the workplace. Just a few years ago, we all moved into a virtual environment overnight. We learned so much about ourselves during this process, especially that we were able to change. Now and in the near future, we will have to work with more sophisticated technologies (think robots, cobots and smart buildings). Change is exciting but sometimes overwhelming. This article offers techniques to help workers become flexible and adaptable during a dynamic work era.

Is the world of work already human-centric and skills-based? According to work futurist Sophie Wade, “the new age of work is about people as individuals…their different talents, needs, obligations and motivations”. A Deloitte report calls the “new operating model for work and the workforce ‘skills-based organizing’ where skills rather than jobs are used as the basis for decision-making about work and life. workforce”. Today, companies hire for skills and people go to organizations that meet their lifestyle needs.

Our understanding of the world of work is experiencing a moment. Yes, the world is changing and the way we work continues to evolve with it. reskilling for talent retention.

Another force for change will occur in our lifetime. We don’t know what the future holds, but we may be able to control our reaction. Adapting with intention is key. Humans have adapted since the dawn of time. Dr. Rick Potts, paleoanthropologist and director of the Smithsonian Museum believes that “we are the most adaptable species”. So even though the Covid-day lockdown, work-from-home mandates, and implementing new technologies were difficult for some, it wasn’t impossible. People have made it work for them, in their own way and through a process of adaptation.

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How do we prepare for the unknown? Training to adapt, perhaps through simulation (future metaverse simulation, anyone?) is an essential way to prepare. The three-step process described here is based on methods designed and taught by me and my colleague Lisa Mesicek and can help people adapt to the future of work:

1. Tap into self-awareness: At Babson College, students learn to use Entrepreneurial Thought and Action (ET&A®) to solve problems. ET&A® methods are used in all disciplines on campus and even within student services. At the Graduate Center for Career Development, we design a career education program with ET&A® in mind. Students are often asked to start with a personal mission statement: what is your why? If there are skills you enjoy using, how can you imagine a job that allows you to use those skills? Today, career education at Babson has evolved to also prepare students for different work environments – physical space, workplace and work schedules have become a greater consideration when applying, negotiating and accepting a job offer.
2. Developing foresight: Understand that things change quickly, you may be able to predict when the change will come, but you can also be part of the change. For example, if you find yourself in an undesirable work situation, how do you use ET&A® to change that and ultimately design the experience you want? Understanding the difference between an opportunity and a bad situation is an exercise in self-awareness. It is essential to have self-awareness and foresight to predict your adjustment in a changing world. Developing foresight, however, is not an easy task. At Babson, Lisa and I will be giving workshops on how to prepare for the unknown using cases and simulations (stay tuned for part 2 of this article to find out how it goes).
3. Create your community: We thrive on human connection. Build a community that helps you gain insights to build foresight, provides feedback, and helps you realize your why. Start by following thought leaders on social media. Funnel to those accessible for one-on-one conversations. Being curious and learning how others are adapting can help you incorporate new strategies, and expanding your network can lead to more choices in the future.

These three tips are a starting point. In the new year, the Babson Graduate Center for Career Development will test this process in the classroom in an effort to keep students in tune with the ever-changing work landscape. Stay tuned for Part 2 where Lisa and Lily share more about how institutions can do their part to help shape futuristic talent.

This article was co-authored by Lily Awad, Adjunct Teacher and Senior Associate Director at Babson College’s FW Olin Graduate School of Business, where she works with MBA and MS students, designs professional education programs, and teaches.