Executive Development - Executive Development 2.0

Executive Development 2.0

Below are key factors that are impacting the field of executive development:

• Time frame – The speed with which organizations need to revise strategies, launch new products and services, expand their global footprint, etc. continues to accelerate; more rapid means of enabling the organization and its leaders to make these changes are required from the development function.
• Share of mind – Executives are incredibly taxed with an increasing set of responsibilities; mid-level management has been reduced and the number of stakeholders (community, environment, government, etc.) has increased, all putting incredible pressure on leaders. Development that is not of immediate value risks elimination.
• Budget – The current economic situation has put great pressure on all expenses across the organization, executive development is no exception. Centralized development budgets are all targets, while certain activities such as executive coaching that may be paid out of a business unit budget may be more insulated from cutbacks.
• "Bottom line" HR – As many organizations have become more results oriented and quantitative for all support functions, there is increased pressure for HR and all of its components to "raise its game" and prove in business terms its impact.

These factors are creating a new operating context for executive development professionals. In response to this new environment, The Institute of Executive Development has articulated a vision of what Executive Development 2.0 will look like:

• The purpose of the function is to drive the organizational strategy (not solely build skills)
• The content will be based on current business imperatives
• The timeline is focused on the immediate 12 months, not longer
• The format will include more on the job and action learning (vs. formal workshops and programs)
• The audience will include stakeholders such as customers and partners
• The budget will be measured more in terms of investment of executive's time (vs. funds)

While executive development continues to become enriched by many approaches, one approach, adult development and its subfield Positive Adult Development is beginning to create opportunities for what has been essentially reserved for academic research to become an increasing part of executive practices.