We are living in interesting times – and, whereas in previous economic fluctuations, the budgets for such aspects as training, marketing and recruitment are wound back, it is harder to justify it this time round. Macro changes are taking place, disruptors are aggressively entering markets, customer expectations are growing. This is a time to ask yourselves if you are realising your training ROI.
Eskil has been involved in boardroom development since 2001 and, from the get-go, training has been a key element in our methodology: if you have been using consultancy or delivering projects, then there is a chance that, bundled into the budget, there has been training.
When there is a downturn (and, as this is a cyclical event, it is an inevitability), many executives react by cutting discretionary spending across the organization but can fail to distinguish between operational and strategic activity: deal with the operational inefficiency but avoid sacrificing your strategy.
Unless your organization is at risk of complete failure / collapse in which case, it’s time for a different kind of conversation!
So here’s the first point: training is strategic.
Training for regulatory compliance
When you consider the regulated industries (e.g. banking, financial services, insurance, petrochemical, etc.) then it is not just a case of good corporate governance but a mandatory issue. In this instance, you will want people to go through their compliance as quickly as possible – getting them back into the workplace – but making sure that it was taught and embedded correctly. We are looking for education but also capability.
In this instance, we are seeing an increase in elearning supported by post-education mentoring.
This training is strategic – it mitigates risk, can capture market share (e.g. when non-compliant organizations are punished).
The modern business landscape means that your current organizational design will be challenged: new team models will call for a reduction in job levels; new reward systems; new goal management; young professionals promoted quicker into leader roles; managers will be re-engineering into ‘coaches’ and ‘sponsors’; learning will be ongoing / continual. It’s very easy to talk about changing the way the Board should be constructed but it is an entirely different matter when it comes to carrying it out.
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“The capability of Board members is a primary factor in shaping the success of any organisation. From the position at the top of the organizational hierarchy, Directors and boards determine culture, business ethics (and subsequent work ethics), stakeholder engagement, market share, innovation, and much more – all within an empowering and fit-for-purpose corporate governance.”
Today’s leaders are expected to be agile, flexible, ROI-driven, socially-aware and relationship-oriented.
Yet the majority of leadership development programs delivered to help the 21st century leader are forged in the fires of the 20th century.
We work with organizations to develop your own 70:20:10 leadership development journey:
70% of the time is learning and developing through experience
20% of the time is through informal learning and development
10% of the time is through formal learning
Eskil considers Leadership Development to be a key Learning & Development initiative – blending education, guidance, consultancy and projects in order to help your senior talent team to create an exceptional leadership.
We are able to deliver this as your branded ‘Leadership Academy’ or as part of our wider Eskil Leadership series.
Eskil’s facilitators have an impressive history of delivering Management & Leadership Development programs to corporations around the world.
For more information, email firstname.lastname@example.org or contact our UK office: +44.1926.497.211
The Case for Organizational Development
Your corporate success relies on a series of factors: clarity of strategy; leadership ethics; boardroom capability; and the capability & commitment of your people.
As a leader or manager, you may now be looking to develop the business case for investing in your people – so here are a few reasons for developing your training program:
- Corporate strategy informs divisional / departmental goals which translates to individual targets – but staff need to have the appropriate skills to deliver;
- As competitors start to recruit new staff, a structured training program shows your key people that they are important – and makes them more likely to stay;
- With the right training, your staff can contribute to the innovation of products and services;
- Customer attraction and retention are achieved;
- Raise skill levels to increase efficiency, productivity and job satisfaction that lead to reduced operating costs;
- Develop safety in the workplace safety (occupational health and safety practices);
- Create positive attitudes by making it clear what behaviours and attitudes you expect from staff; and
- Develop the capacity of staff for the purposes of career progression and succession
It’s unlikely that there is anything here that is earth-shattering news but it does bear repeating: training is strategically critical but how often does a board include a learning & development strategy on its agenda?
Feel free to contact us to discuss your learning & development initiatives and one of our facilitators will speak with you about their own experiences and how they can support your corporate ambitions.