Given the rapid pace of change in today’s world, it is no surprise that businesses and organizations turn to executive education to adapt and remain effective.
Business schools recognize that employers need real-world learning that results in better leadership performance and translates into business value. Here are some of the many dimensions of executive education which confer benefits on organizations that make the investment.
Cross Training for Innovation
When employees learn about other areas of the business outside of their immediate duties it helps to cultivate team-work, productivity, engagement and innovation. Cross training also allows them to expand their competencies, fill in for other duties when needed and helps to build a workforce that can function smoothly during times of change and uncertainty. Courses in financial literacy, technology, analytics, and business acumen can help workers at all levels get a big-picture appreciation of company goals, mission and values.
Attracting and Retaining Top Talent
While getting and keeping customers and clients is an obvious priority for businesses, too often those same businesses are dispassionate when it comes to attracting the best workers. Providing executive education means gaining a reputation as an employer who believes in personal development and cultivates excellence in its people. This results in better hiring and retention of highly motivated top candidates who are open to growth and learning experiences.
When employees have the enrichment, training and qualifications to move into higher positions with more responsibility, the company benefits. One of the most rewarding things for an organization is the ability to fill top positions by promoting high quality individuals from within its own ranks. That way they avoid losing years of organizational knowledge, and save time and money involved in recruiting outside people. Executive Education prepares employees for advancement and career fulfillment.
More Effective Leadership
One of the most invaluable traits of top leaders is a commitment to continuous learning. There is room to grow no matter where a person is in their leadership journey. Whether one has just been promoted to a top role or is a seasoned executive with years of experience, an executive education course in leadership can introduce new ideas and refresh old ones, always keeping pace with today’s ever-changing world. Top executives and senior leaders can be empowered to share a clear vision and strategy, help propel change, and inspire a culture of innovation and high performance.
Keeping on Top of Trends
Because new technologies and trends can present unique challenges for businesses, many learning centres offers programs on relevant, timely topics. Emerging technologies such as the Internet of Things (IoT), emotional leadership, mindfulness in the workplace and management skills for specific demographic groups such as millennials are all examples. Keeping on top of timely issues will help any organization stay competitive.
Human Capital Optimization
In today’s knowledge-based economy, the most successful organizations will approach executive education as an investment rather than an expense. Executives and top leaders are learning to value and measure non-financial assets. Individual skills and experience, potential for growth, and alignment with organizational values are qualities that organizations need in employees. Executive education fosters a culture of learning and enrichment that will bring out the best in workers at every level.