Executive learning and development is an essential for businesses to enjoy long-term success and ensuring a competitive advantage, yet the majority views their current provision as ineffective. This is the result of the St Gallen Executive Education Report (SEER), which has been launched today.
The study was compiled based on the results of a survey of 350 executives from across Europe. It found that an astonishing 57% of executives view learning and development as the highest priority for their companies. The primary objective behind this investment is to help companies become more innovative and to deliver operational efficiency.
Commenting on the study, Winfried Ruigrok, Dean of the Executive Management School at the University of St Gallen said: “The results of this study are clear; a commitment by the c-suite is the most important factor in delivering effective executive education. This is more important than the technology deployed to make it happen and the ability to measure a return on investment.”
Additionally, one of the key findings of the study was around the role of the Chief Learning Officer (CLO). Only 17% of respondents said their company had a dedicated CLO and those that do, the majority perform an operational function as opposed to an executive one.
Ruigrok added: “It is astonishing that despite the importance of commitment to delivering executive education, the role of the Chief Learning Officer is nascent or non-existent within many companies. As respondents project to the future, despite seeing the importance of Learning and development to their company’s long-term success, they do not think they will have any additional resources to work with.”