The Top Priorities in Executive Development
In 2015, we saw the need for executive development programs to address key business issues and challenges move to the top of the priority list, where it remains today. In fact, this priority has grown steadily since 2011, indicating a lack of tolerance for programs that rely too heavily on academic case studies and theoretical constructs. Those who develop executives must have a clear line of sight to the real-world business challenges and then go further by integrating them into the programs designed to develop their executives.
This more practical development must also extend to the high potential population as accelerating the development of high potentials landed #2 on the list of priorities. The last time the high potentials made the top 5 list was 2009, when business literature was filled with articles warning of the impending mass exodus of the baby boomer generation.
In addition, building awareness of the new technology (priority #3) remains in the top five, signaling that many of the business challenges executives are facing are directly related to the pace of change presented by the latest developments in technology. Leaders are working to maintain the old way while continuously innovating the new, striving to play the game another day. Not surprisingly, Priority four is an increase in productivity and ability to get results.
The ability to create a compelling vision and engage others remains a top priority within executive development as well coming in at spot five.
This is likely an indication of two things:
- The changing workforce demographics, where a growing population of millennials want more than work. They want a career path and a cause to rally around.
- The growing need for organizations to cut through the chaos of both the global competitive market and the day-to-day communication channels to capture the attention and loyalty of their customers.
What are the top priorities and key objectives in executive development in the next 2-3 years?
- Address key business issues/challenges (24.2%)
- Accelerate development of high potentials (21.2%)
- Build awareness of new technology (18.6%)
- Increase productivity & ability to get results (15.2%)
- Create a compelling vision and engage others around it (14.9%)
Speak with an EDA Consultant to learn more about custom executive coaching, high potential development and organization building to help your company achieve these top five priorities.
CEO, EDA, Inc.
Executive Coach, Author, Speaker and Leader of Custom Executive Development Consulting Firm with world-class consultants, recognized in their fields as the creme-de-la-creme. Services include Executive and Leadership Development, Executive Coaching, Succession Planning, and High Potential Development.
The Trends in Executive Development report has been the leading compilation of research for organizations across the globe to benchmark their executive and high-potential development.
A deep dive into the notion that a compelling vision is a differentiator for organizations that want to hire and retain talent, be more competitive, and thrive in uncertain times.