This article discusses the importance and the development of psychosocial skills (PSS) in managers. PSS refer to the emotional, cognitive and social abilities needed for adaptive and positive behavior, that enable individuals to deal effectively with the demands and challenges of everyday life and in particular settings, such as managerial work. A first section of this paper deals with the nature and definition of PSS and how they vary among authors, programs, cultures and settings. A second section describes the interactive processes involved in the learning of PSS. The third section presents the literature that discusses the variety effects that have linked to PSS training, learning in different situations and populations, such as effects on mental health, social behavior, school performance, work performance and career development. Fourth, the most relevant characteristics of effective PSS education programs that have been identified in the literature are discussed. Finally, implications of all the above for PSS content development and research are proposed and discussed.