By John Kallelil, Founder & CEO, XED
Enterprises in the new realm recognise the value of executive education. Learning and development initiatives are a big part of their budget each year. Despite heavy spending however, companies often see a meagre return on investment. This is because open programs may not cater to the specific learning needs of each company. The learning needs of the C-suite, for example, are vastly different from other layers within the organisation. Course content needs to be challenging, and stimulating and at the same time allow them to apply lessons in the workplace. As board members, C-suite and other senior leaders face some of the most onerous business challenges and complex problems of our time, they need personalised, socialised and contextualised learning to which they can relate to.
With the EdTech revolution, CXOs (COO, CEO, CTO, and CFO) have an unprecedented opportunity for upskilling and reskilling to keep up with the changing waves of disruption. In fact, continuous learning is almost a prerequisite to build a well-integrated business ecosystem. So how are EdTech platforms catering to the needs of the highly niche segment?
Reskilling and Upskilling around your Organisational Goals
EdTech platforms have taken executive learning programs to the next level, a far cry from the canned learning experiences of the past. One of the ways they do this is to co-design the learning experiences to meet your company’s unique business and learning objectives. These skilling experiences create learning engagements that have a transformational, focused and lasting impact on business performance. EdTech platforms design these learning programs to develop skilled new-age leaders and facilitate strategic business initiatives that demand a shift in thinking, processes and methods. For instance, an EdTech platform such as XED may undertake a digital readiness assessment for an organisation looking to familiarise and upskill its C-suite with emerging technologies and disruptive processes specific to its domain.
Skills Gap Widens
Digital transformation followed by a pandemic has led to a skills gap in the workplace with disruptive technologies and new approaches in leadership and strategy fast replacing traditional ways of leading. This new world order demands a renewed approach to strategic thinking, innovation, human capital management, adaptability, agility and leadership. This relentless pace of change combined with a volatile and uncertain economy requires leaders who are willing to unlearn and relearn and have the willingness to connect ideas, experiment, fail fast and adapt quickly.
Collaborating with the Best-in-class Universities and Thought Leaders
EdTech platforms have opened up avenues for learning and development. They partner with some of the world’s premium universities, Ivy League colleges and celebrated faculty to design and deliver these programs to build the desired competencies and capabilities. The collaborative approach allows businesses to do a thorough analysis of the needs gap with key stakeholders and evaluate organisational challenges and competencies. Leadership teams that participate gain access to best-in-class content globally taught by leading academic experts and a chance to apply the frameworks to real-world problems.
As traditional formats in executive education continue to stay upended by an uncertain economic climate, the new, flexible modes of education that combine live online classes with in-person learning deliver the ideal experience to these leaders in the timeframe and geography that best suits their needs.
Learning is a Science
Changing behaviors, upskilling or knowledge acquisition must be approached scientifically at a fundamental level. Learning alters our perceptions, behaviors, habits and skills. Unfortunately, when continuous learning or upskilling initiatives are treated as a box-ticking exercise, millions of dollars are wasted in ineffective programs with no impact. This is where EdTech platforms differentiate their offerings. By using a scientific approach to reskilling, and employing tried and tested tools and methods of training, they ensure that the learning is laser-sharp, effective, and equipped with the right tools to drive attention and build new behaviors and habits.
Conclusion
Every couple of years there is a marked shift in the business world, where you cannot use the old ways of thinking, working and leading. Senior leadership needs to be aligned to the dynamic and evolving landscape and equip themselves with relevant skills, technologies and processes to thrive in this era.