Companies should never treat employee training and professional development as anything less than essential - it is always an investment, not an expense, especially when it comes to a management development program. It is understandable that CEOs would be uncertain about it - they can send employees off to do course work without knowing the exact return on their investment. CEOs should implement a needs analysis to establish an acceptable return.
In today's international economy with its rapidly changing environment, any business that isn't investing in professional development courses will fall behind. By funding training and development, employees who are the ones that produce, refine, protect, deliver and manage your products or services will be better equipped. It is also an opportunity to single out those who are ready for the next level and enrol them in leadership training development.
CEOs need to ask managers what they feel is the most beneficial for them to be trained in: it could be managing people? By giving the manager a say in what they train in will motivate them to learn. After the management training, see if the information in the training session or course was absorbed and transferred to a practical situation. Executive staff should be supportive of an employee’s desire to learn.
Read more: How to invest in training, CEO's Desk, The CEO Institute Blog.