"Although the EMBA program requires company sponsorship, contribution to the business depends on whether the individual's goals match with the corporate direction," he said. "It can be a challenge for the organizations to maximize an individual's learning experience, but the longer the organization can retain the individual, the more beneficial it is."

To provide development for senior executives that match with corporate strategy, more organizations are sponsoring coaching programs.

Business coaching started to gain popularity when Google CEO Eric Schmidt publicly shared his executive coaching experience. The idea is also becoming acceptable in Hong Kong. According to a survey conducted by recruitment firm Robert Half, among the 500-plus Hong Kong respondents, 88% indicated that career coaching helps improve their job performance.

"Executive coaching was primarily among the MNCs, but it's now getting wider acceptance both in Hong Kong and China by domestic companies," said Garry Willinge, a former IBM Hong Kong executive, who has been an executive coach for six years. His practice covers across Asia and has been coaching C-level and senior executives in various industries.