In times of increasingly fierce competition for talent, many employers contemplate ways to attract and retain top professionals. Especially valuable are the high potential and top-performing employees in their fields of expertise, with an urge to further develop their business competence and leadership skills. In such a setting, an Executive MBA can be a wise investment.
An executive MBA will challenge a professional's strategic thinking, analytical and leadership skills. Typically, an executive MBA will also develop a professional and provide attributes supporting their personal and professional growth. In other words, an executive MBA is a great match when you want to motivate your employees to better themselves without putting their careers on hold.
I would like to introduce five reasons why employers should consider an executive MBA for their employees.
01 Enhanced leadership and management skills
Executive MBA programmes are specifically designed for experienced professionals who aspire to further develop their business acumen and leadership abilities while continuing to work full-time.
An executive MBA with included executive coaching supports the competence development of leaders and professionals in your organisation in problem-solving and analytical skills, enhances their strategic thinking, boosts confidence and decision-making as well as improves communication skills to summarise a few areas.
This can be reflected and result in their career progression and in the strategic development of the business through improved qualifications.
02 Fresh insights and ideas applicable to the business
Executive MBA programmes can function as a method to introduce fresh ideas, new concepts, and tools to the workplace.
Choose a programme in which most post-module assignments are individual and can be applied in your organisation or industry. Other programme participants can be seen as a consultative team to help to solve business challenges in the group assignments. The individual development project (thesis) and the assignments will have a direct return on investment for the organisation, as EMBA students will analyse cases, write reports, and provide recommendations for business development during the programme.
03 A broader and global perspective on your business
Taking part in an EMBA programme exposes participants to a diverse group of professionals from various industries and backgrounds, fostering cross-cultural understanding and knowledge exchange.
Through coursework and case studies, employees gain insights into global business practices, emerging markets, and international strategies. This expanded perspective enables organisations to make more informed decisions, adapt to evolving market dynamics, and identify new opportunities for growth on a global scale.
04 A wider and deeper influential business network
An EMBA provides a valuable networking opportunity for employees, who can connect your business to a wider and deeper variety of influential business contacts. A diverse group creates a rich learning environment that encourages collaboration and the exchange of ideas.
Through networking events, group projects, and interactions with faculty and guest speakers, participants can expand their professional network, foster mutually beneficial relationships, and gain exposure to different perspectives and best practices.
05 Develop and retain your key talents
To optimise the return on the investment, employers should bring up the opportunities for career development with the employee after completing the Executive MBA. Sending an employee to an Executive MBA and hoping they will consider it a payoff is usually not the case. Instead, EMBA students are typically interested in pursuing the studies for their career development as the payoff.
Suppose the organisation is not prepared to use the developed competence and skills further. In that case, it usually leads to disappointment for the employee and the employer, who, in the worst case, can lose a top-performing professional.
What can employers do to optimise the return on investment of the Executive MBA?
- Agree on how to support the employee financially and timewise in the studies.
- Together with the employee figure out how to deal with the workload and goals alongside the part-time studies.
- Discuss the policy and process with the employee on regularly sharing insights and applying new knowledge for the organisation's benefit during the EMBA studies.
- Anchor the topic for the EMBA development project (thesis) in the organisation.
- Take up options for career development within the organisation in the development discussion before the employee graduates.
Is your organisation prepared?
Typically, individual employees are interested in pursuing an Executive MBA in their development discussions. It's then up to the employer to decide whether to support this ambition and in which way.
To be prepared, it is essential to form a company policy for the selection process and financial support and think about the other terms.
Choosing the right programme
- Choose an internationally triple-crown accredited EMBA programme with the three most prestigious international accreditations (AMBA, EQUIS, AACSB). Less than 1% of the business schools worldwide have received the triple-crown accreditations.
- Choose a flexible EMBA programme that minimises absence days from work. In HyFlex (Hybrid flexible) programmes, students are given a choice of how they participate in the course and engage with the material in the way that works best for them.
- Choose an EMBA programme with an individual development project (thesis) to make a true impact in the organisation. The development project can quickly repay the investment when it's done well and is anchored in the organisation and the topic has been discussed with the employer.
- Choose an EMBA programme with a contemporary curriculum that provides holistic perspectives on business by top-notch faculty.
- Choose an EMBA programme that embraces the value of diversity among participants concerning educational backgrounds, jobs, roles, age, gender, nationality, etc.
In conclusion, sending employees to pursue an EMBA is a strategic investment that can yield substantial returns for employers. The programme enhances leadership and management skills, fosters networking opportunities, promotes personal and professional growth, demonstrates a commitment to employees, and provides a valuable credential. By supporting their employees' pursuit of an EMBA, employers empower their workforce, strengthen their leadership pipeline, and position themselves for long-term success in a competitive business landscape.
We are happy to support you in this process. Please feel free to book a Hanken Executive MBA info meeting to learn more about the benefits of the programme.
About the author
Henrich Nyman (Ph.D.) is the Growth Area Director for the degree programmes at Hanken & SSE Executive Education. Henrich is an experienced professional in business management, customer-oriented business development, and sales. He has broad job experience in several leadership capacities and businesses. His mission is to help people and organisations improve their commercial capabilities to make better business decisions.