2020 is drawing to a close. Everybody cannot wait for the year to be over. Of course, a change in the year does not mean everything that's happened suddenly comes to a stop. But a new year means an opportunity to start over, apply the things we have learned. Therefore, preparing for the new year is important. One of these ways is equipping yourself with unique leadership skills.

The 2020 pandemic has changed many things and leadership skill requirements are one of them. A lot more will be expected from leaders in 2021, especially after having gone from such a difficult phase.

Empathy

Empathy is the ability to understand another person's situation or predicament. You should be able to know what the person is going through, so you avoid making wrongful and harsh judgements. This skill is required now more than ever. Leaders need to understand what their employees are going through thanks to the upheavals caused by the pandemic and economic crisis. These factors are still going to be there in 2021, and empathy will help leaders excel during these trying times. Empathy also helps leaders connect with their employees and customers, understand their issues and needs, and help them out. Empathy also leads to humility, another desired trait in a leader.

Risk Management

Financial and health risks have increased ten-fold. 2021 leaders will be expected to be better risk managers. The COVID-19 pandemic exposed the glaring holes in current business and economic systems and all were caught unprepared. Leaders need to put in a lot of time and effort into preparedness to mitigate risk factors. One great example of preparedness is WFH. The lockdown risk threatened business operations, but the WFH model ensured operations continued without employees losing jobs. It also ensured businesses actually saved money during the trying time. Similarly, leaders should spot risk factors and come up with contingencies that protect the business, the employees, and customers.

Smart Financial Management

One of the biggest reasons businesses got into trouble during the pandemic is poor financial management. Of course, nobody had the idea of such a thing ever occurring, but that does not excuse businesses for not having financially prepared for a crisis. It’s not an impossible task. Just take the example of Asian Paints. They actually managed to give their employees raises smack dab in the middle of the pandemic and economic downturn. Of course, they also cut costs where they could, but they retained employees and created great goodwill for their brand name. This is smart financial management. Leaders in 2021 have to learn from such great examples, and cleverly manage the finances of the company.

Future-proofing

No, 2021 leaders are not expected to be fortune-tellers and know the future, but leaders need to understand future goals and drive the employees in that direction. You first need to understand the goals, their viability, and achievability. Only then can you take your employees on that journey. Another way to be future-proof is to find the future leaders of the company. You need to spot employees with great potential and hone them to be the leaders of the future. These future leaders can make the company strong enough to weather any difficult times and keep growing irrespective of an economic slowdown.

New Tech Skills

All businesses go through technological upgrades, but in the past, many leaders were guilty of not bothering themselves with learning and adapting to new technology. Still today many leaders struggle with basic technology. This can't happen in 2021. Technologies like cloud, artificial intelligence, and analytics are changing the way business is done. They are developing and moving at such a brisk pace that even tech-savvy professionals are having a difficult time catching up. Leaders also need to have a strong understanding of such technologies so they can leverage it to save costs, increase profits, develop their business, foray into new industries, and make smart business decisions.

Along with the challenges of the past few years, 2021 will bring in its own set of challenges, and if you plan on being an excellent leader, the above-mention skills will hold you in good stead. Acquire them, hone them, and get ready to succeed as a leader.