FT: Executive education 2021: companies back post-pandemic spending
Survey for FT listing of short-course providers also shows a renewed focus on diversity
From Original article by Andrew Jack and Jonathan Moules, May 9 2021
Many companies are set to increase or maintain their budgets for executive training to prepare top managers for the post-pandemic era, an FT survey has found. The poll also highlights a fresh focus on fostering workforce diversity in the wake of the Black Lives Matter protests.
In a survey of 363 chief learning officers (CLOs) around the world, carried out this spring, more than a quarter said they intended to raise spending on executive education — shorter, non-degree programmes — in 2021.
More than half of the CLOs, who commission training for organisations, said they would maintain 2020 levels, while 17 per cent planned reductions.
In a further indication of recovery in the sector, UNICON — an alliance of leading executive education providers which partnered with the FT for the survey — said a third of its members expected their revenues to rise by up to 10 per cent. Another third anticipated no further drop in revenues during 2021.
However, the survey revealed that many CLOs were exploring the use of alternative external providers other than business schools, and were increasingly seeking ways to evaluate more rigorously the value for money of training programmes.
The findings come from a pioneering survey conducted by the FT in partnership with UNICON, the International Consortium for University-based Executive Education, along with the Association to Advance Collegiate Schools of Business and the European Foundation for Management Development — the two leading accreditation agencies — as well as the Society for Human Resource Management.