Just like medical doctors must meet requirements for continuing education, the best and most successful leaders also are committed to continually developing, refining and enhancing their leadership skills.
Executive development comes in a variety of forms and is geared to different audiences. Here’s a summary of the major development programs:
- Executive Education – Many of the better known business schools (Darden, Harvard, Northwestern, Duke, etc.) have executive education programs that are designed for busy and senior executives. Such programs will have “tracks” that focus on finance, strategy, marketing, operations, etc. They are generally conducted in week long segments once a month or once a quarter with 4-6 total sessions.They can range in cost from $20,000 and higher. The content is world class, and the contacts and relationship building are exceptional.
- Leadership Development – Perhaps the most widely known program is conducted by the Center for Creative Leadership (CCL), which has several locations in the US. They offer a variety of programs for leaders and C-Suite executives; they are generally 4-5 days of participation with a significant amount of assessment work that must be completed ahead of time.The cost, depending on the particular program selected, is generally in the $8,000 – $10,000 range, plus travel costs. The outcome is a lot of honest feedback and several leadership tools that may or may not be helpful to you, depending on your style, environment and other factors. Relationship-building and establishing key contacts are also advantages of these types of development programs.
- Executive Coaching – This form of executive development has grown tremendously over the past decade or so. Executive coaching establishes a collaborative advisory relationship between the coach and an executive to help them achieve optimal performance in their role. The coach will work with the executive to identify areas of focus, develop an action plan and establish regular meetings to coach the executive in their development. The timeframe can last for 6-12 months or longer, with weekly, bi-weekly or monthly intervals.The cost of this form of executive development can vary greatly; a well-qualified and experienced leadership coach can cost $20,000 or more. Because this is highly personalized, the long term benefits and return on investment are substantial.
The type of executive development that is right for you will depend on a variety of factors including what kind of development is needed, your learning style, your commitment, the amount of time you believe you can devote to this, and cost.
To determine if Executive Coaching is right for you, email firstname.lastname@example.org or call 864-905-2171.