It's back to school for executives as economy loses steam
As slowdown hits job market, there is a 30-40 per cent rise in number of applications for executive education programmes
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Satish Pramanik, a 39-year-old information technology (IT) mid-management executive, has been associated with his firm for eight years. Though he is a master of business administration, the cases and theories he studied more than 10 years ago are starting to get redundant. With talks of job cuts across India, he does not want to be considered less competent, compared to the younger folk in his organisation. Hence, he recently enrolled himself for an executive education course at one of the Indian Institutes of Management (IIMs).
While there’s a talk of slowdown in the job market, education sector players have seen a 30-40 per cent rise in the number of applications for executive programmes, since this is a time when managers look to re-skill themselves. This is because of the fact that executives want to familiarise themselves with the latest management strategies, develop capabilities and become an essential resource for their companies.
Madan Mohan Raj A, chief programme officer-executive education programmes, IIM-Bangalore, said they were witnessing a rise in the number of applications for their long-duration programmes (nine-twelve months).
“Due to the slowdown, it is possible that managers are apprehensive about role redundancy and would like to re-skill themselves to explore opportunities outside or make themselves eligible for a newer role within the company,” he said. “We are looking at increasing the batch size of our existing programmes. New programmes are still in a planning stage.”
In normal circumstances, executive education courses taken by the senior management is sponsored by the company. However, with slowdown fears and cost pressures, organisations would either not sponsor such initiatives or only be partly funding it. A senior human resource executive of a financial services company said while companies were not looking at funding the executive education programmes currently, the personnel at senior level were looking forward to doing such programmes to stay rooted to the reality.
“The present situation has reflected that not just junior staff, but senior management could also be on the retrenchment list due to extreme cost pressures. Hence, though they have to spend a large sum for the courses from their pockets, up-skilling and re-skilling is crucial,” the official added.
V K Unni, chairman, consultancy and management development programmes at IIM-Calcutta, has noticed a more than 70 per cent rise in some cases. “The number of applicants among managers/executives has gone up substantially and this is very much visible in the responses we have received with respect to some of the programmes, which are being offered this year. In some cases, the applicants have gone up by more than 70 per cent vis-a-vis 2012-13,” he said.
Institutes are not just launching newer programmes to meet the demand, but subsidising them in some cases. Indian School of Business (ISB) has seen a rise in demand for functioning programmes like project management and supply chain management, which are of six months’ duration, on an average.
Ramanathan Hariharan, senior director, Centre for Executive Education at ISB said to meet the increasing demand of managers who want to brush up their skills, they were looking to launch more certificate-based short-term programmes. “There is a trend of people moving across sectors. Hence, short-term programmes are seeing an uptick among sectors like IT, retail and finance,” he said.
Hariharan added that keeping in view the demand for the programmes and the present economic situation, the business school was also looking to subsidise the fee structure for executives. He explained that the courses were not just for basic understanding of the subject, but also for strengthening their Curriculum Vitae.
Apart from individuals themselves registering for these courses, industry players say companies are also looking at part-financing these courses to keep their managers occupied. Unni said, “Companies also tend to encourage some of their valued employees to register for such courses by part-financing the course to ensure they remain occupied during the downturn and when better times return, it would be greatly beneficial for both parties.” Here, he said, firms preferred customised programmes for their executives, which would have multiple batches rather than sending one or two for some general programmes.
Not just Indian schools, international institutes have also seen a demand. Caroline Williams, associate director of open programmes, Saïd Business School, University of Oxford said the number of Indian participants in their executive education programmes had tripled in the past five years (2008-2012).
Williams explained this increase was largely due to the careful consideration they gave to programme design to ensure that each of their programmes closely addressed participants’ requirements and was relevant to their professional and personal needs.
“Faculty members are familiar with Indian business and economic context and incorporate this insight into the programmes to ensure their teaching is grounded in reality which participants encounter in their organisations,” added Williams.
Executive education programmes are offered by both Indian and international institutes in India. While the IIMs and ISB offer both short-term and long-term programmes throughout the year, international institutes like Harvard Business School and Saïd Business School offer them at particular intervals, both in India and their host country.
STUDY TIME
While there’s a talk of slowdown in the job market, education sector players have seen a 30-40 per cent rise in the number of applications for executive programmes, since this is a time when managers look to re-skill themselves. This is because of the fact that executives want to familiarise themselves with the latest management strategies, develop capabilities and become an essential resource for their companies.
Madan Mohan Raj A, chief programme officer-executive education programmes, IIM-Bangalore, said they were witnessing a rise in the number of applications for their long-duration programmes (nine-twelve months).
“Due to the slowdown, it is possible that managers are apprehensive about role redundancy and would like to re-skill themselves to explore opportunities outside or make themselves eligible for a newer role within the company,” he said. “We are looking at increasing the batch size of our existing programmes. New programmes are still in a planning stage.”
In normal circumstances, executive education courses taken by the senior management is sponsored by the company. However, with slowdown fears and cost pressures, organisations would either not sponsor such initiatives or only be partly funding it. A senior human resource executive of a financial services company said while companies were not looking at funding the executive education programmes currently, the personnel at senior level were looking forward to doing such programmes to stay rooted to the reality.
“The present situation has reflected that not just junior staff, but senior management could also be on the retrenchment list due to extreme cost pressures. Hence, though they have to spend a large sum for the courses from their pockets, up-skilling and re-skilling is crucial,” the official added.
V K Unni, chairman, consultancy and management development programmes at IIM-Calcutta, has noticed a more than 70 per cent rise in some cases. “The number of applicants among managers/executives has gone up substantially and this is very much visible in the responses we have received with respect to some of the programmes, which are being offered this year. In some cases, the applicants have gone up by more than 70 per cent vis-a-vis 2012-13,” he said.
Institutes are not just launching newer programmes to meet the demand, but subsidising them in some cases. Indian School of Business (ISB) has seen a rise in demand for functioning programmes like project management and supply chain management, which are of six months’ duration, on an average.
Ramanathan Hariharan, senior director, Centre for Executive Education at ISB said to meet the increasing demand of managers who want to brush up their skills, they were looking to launch more certificate-based short-term programmes. “There is a trend of people moving across sectors. Hence, short-term programmes are seeing an uptick among sectors like IT, retail and finance,” he said.
Hariharan added that keeping in view the demand for the programmes and the present economic situation, the business school was also looking to subsidise the fee structure for executives. He explained that the courses were not just for basic understanding of the subject, but also for strengthening their Curriculum Vitae.
Apart from individuals themselves registering for these courses, industry players say companies are also looking at part-financing these courses to keep their managers occupied. Unni said, “Companies also tend to encourage some of their valued employees to register for such courses by part-financing the course to ensure they remain occupied during the downturn and when better times return, it would be greatly beneficial for both parties.” Here, he said, firms preferred customised programmes for their executives, which would have multiple batches rather than sending one or two for some general programmes.
Not just Indian schools, international institutes have also seen a demand. Caroline Williams, associate director of open programmes, Saïd Business School, University of Oxford said the number of Indian participants in their executive education programmes had tripled in the past five years (2008-2012).
Williams explained this increase was largely due to the careful consideration they gave to programme design to ensure that each of their programmes closely addressed participants’ requirements and was relevant to their professional and personal needs.
“Faculty members are familiar with Indian business and economic context and incorporate this insight into the programmes to ensure their teaching is grounded in reality which participants encounter in their organisations,” added Williams.
Executive education programmes are offered by both Indian and international institutes in India. While the IIMs and ISB offer both short-term and long-term programmes throughout the year, international institutes like Harvard Business School and Saïd Business School offer them at particular intervals, both in India and their host country.
STUDY TIME
- At IIM-Calcutta, there has been a more than 70 per cent rise in the number of applications for some executive programmes
- Indian School of Business has seen a rise in demand for functioning programmes like project management and supply chain management
- At Saïd Business School, University of Oxford, the number of Indian participants in executive education programmes had tripled in the past five years (2008-2012)
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First Published: Sep 12 2013 | 12:15 AM IST