However, given the recent passage of the near trillion dollar economic stimulus package, maybe we’re looking at this all wrong and missing an opportunity here. Why cut back on our leadership development programs? Don’t we need strong leaders now more than ever? Maybe now is the time to double, heck, even quadruple our spending on leadership development? And just where are we going to get the money for this kind of massive, yet important investment in our future? We’ll ask the government for it!
Yes, now is the time for the Leadership Development Economic Stimulus Package.
After all, money spent on leadership development will help create jobs for consultants, coaches, instructional designers, trainers, professors, and others in the travel and hotel business. These programs will help managers improve, which will help employees grow and be more productive, which will help businesses thrive and grow, and create even more jobs.
Now, some of these stimulus plans are weak on details. So instead of just saying “spend more on leadership development”, I’m going to provide a detailed program design.
Given our objective is to develop leaders and stimulate the economy, I’ve spared no expense. However, all of the design elements are based on real programs that I’ve heard about from networking and benchmarking with colleagues in the leadership development business. Really, none of these are made up or overly exaggerated. The costs are realistic, even conservative estimates – and it was surprisingly easy to get to three million dollars.
How to Design a Three Million Dollar Leadership Development Program
1. First of all, let’s start with the assumption that this will be a two week program, with 40 participants. That’s about the longest any program should be, with the maximum number of participants.
Total costs: $3,110,000
Cost if every Fortune 500 company ran two programs: Just a wee bit over one billion dollars. A drop in the bucket compared to the rest of the package.
Seriously, even if we could spend this kind of money (and companies have), should we?
Would it be irresponsible and have a questionable ROI? Actually, you might be able to justify the ROI – just think of the cost of one really bad strategic decision. But I’m convinced we can design programs that are just as effective, for a fraction of the cost.
In an upcoming post, I’ll tell you how.