According to an article in yesterday’s Wall Street Journal, many firms are investing in developing managers (“Despite Cutbacks, Firms Invest in Developing Leaders”, Wall Street Journal, 02.09.09). Even companies in the midst of layoffs are finding the resources to invest in developing the leadership skills of managers. These companies are “hoping not to be caught short of strong managers when the economy recovers.”
The Wall Street Journal reports that the most popular training programs these days are those related to grooming managers in areas of leadership.
The article goes on to admit that even the companies investing in training are reducing their overall leadership development costs. Cost-cutting strategies range from Estee’ Lauder reducing their annual two- or three-week summer program at Vassar College typically attended by 120 executives to a one-week program for sixty to some companies using leadership coaches via webinar to cut back on travel costs. Of course, these reductions (and in other cases delays in custom training fulfillment) are hurting business schools. But, one has to admit that reduced business is better than no business at all.
I propose that savvy continuing, professional, and executive education leaders and marketers can position themselves to make the most of this silver lining (even if it is a small one). If you have a list of corporate contacts, now is the time to work the phone lines to uncover how they plan to handle training for managers in the coming 12-18 months. Demonstrate through your contact that you value the relationship with their company and want to know more about their situation and explore how you might be able to work together to meet each of your needs.
If you have leadership development workshops, seminars, or courses in your portfolio, educate prospective students on the value many employers place in developing leaders in a struggling economy. Consider web and email content along the lines of “how to thrive in a down economy.”
Am I the only “Pollyanna” out there? If not, post a comment to share your thoughts and examples of how you’re making the most of this (admittedly) small silver lining.
What is the average % of marketing budget typically allocated for colleges/univesities?
Posted by: Kristina | March 02, 2009 at 04:56 PM