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A new survey of 300 companies across major industries from 20 countries shows that too few companies are prioritising executive L&D, even though the evidence shows that those that champion it realise disproportionate performance benefits.
This important new report from St. Gallen Executive School examines the steps companies are, or should be, taking and to develop their future leaders and offers valuable advice on how to use executive L&D to create leadership attuned to our challenging times.
This study, published as part of the St. Gallen Executive Education Report Series, shows that many companies are struggling to prepare their next generations of top leaders.
This is a serious concern. Future business growth will depend on leaders capable of succeeding in a complex environment, characterised by disruptive change and exacerbated by unprecedented levels of scrutiny from investors, regulators, and the public. For some companies failure to develop leadership up to the task could be fatal.
The St. Gallen researchers found that companies are most successful when top management sets the executive L&D framework and provides strategic direction. Unfortunately, few firms are doing so. Responsibilities are often spread across multiple authorities, resulting in executive L&D policies that do not support corporate strategy.
Their findings also indicate that sophisticated learning formats and instruments cannot substitute for the lack of top-level attention. Executive L&D champions not only understand how to prepare top executives for the increasing speed of change, but also perform better in financial terms. The prospect of realising a competitive advantage should encourage decision makers to elevate executive L&D to the top of company’s agenda.
Professor Winfried Ruigrok, Dean of the Executive School and co-author of the study, presents the report's key findings in this 36 minute webinar:
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