Leaders need development to perform effectively in the global workplace. Business schools and executive education providers in Hong Kong and the rest of the Asia-Pacific are facing increasing demand for short or flexible leadership development programmes.
And it is not just the multinational companies which are signing their executives up for courses. More companies from Hong Kong and the region have a real interest in leadership development.
According to Kate Chan, associate dean of executive education, corporate development and China strategy at the School of Business and Management at the Hong Kong University of Science & Technology (HKUST), which introduced leadership programmes 10 years ago, companies and individuals are increasingly aware that the reward for investing time and money in such development is getting a better leader who makes better decisions, can drive change in a more effective way and is better at motivating and taking care of staff.
Professor Chan said it used to be more common for companies to hire executives to fill senior positions externally. However, studies showed that statistically it was more effective to grow someone from inside.
Kathleen Slaughter, associate dean for Asia at the Richard Ivey School of Business in Hong Kong, agreed. 'Ten years ago if you wanted someone good, you found someone locally who had international experience or brought in an expat. There is far more interest now in the development of local talent and talent within organisations.'
Professor Slaughter said demand for programmes targeting leadership development was on the rise. 'There is as much competition here for talent as everywhere else in the world so people are paying attention to the talent that they've got. Big Chinese companies are doing extensive development programmes, with more mapping of talent, and interest in developing talent in the organisation.