For many years executive coaching was often seen by businesses as an expensive luxury but as more and more leaders see the benefits of this approach they now accept it as part of mainstream management development. All top performing athletes have coaches and the same principles that are used in sport apply in business.
And it’s not just soft skills that are improved an executive coach can help you and your business to get some hard results such as greater productivity, faster promotion and bigger profits.
Once you have found someone you can relate as an executive coach they can offer great insight and learning about yourself, how you're perceived, where you can improve
A coach will challenge you to take faster, but more considered action so you keep projects moving and focus on key areas of performance for you and your teams.
Quality time spent with your executive coach gives you space to hear your own voice - to talk issues through and gain perspective. Very importantly they can talk to you honestly and truthfully when sometimes others may not.
A good executive coach will provide emotional support, empathy, and encouragement so the leader feels less lonely
Of course coaching isn't a panacea. It won't work for someone who doesn't have a desire to learn and grow. In some situations, consulting or therapy may be more appropriate , and finding the right coach who can provide the chemistry needed to work with a leader effectively is essential .
A recent report entitled, ‘Coaching: A Global Study of Successful Practices – Current Trends and Future Possibilities 2008-2018’ commissioned by the American Management Association highlighted an expanding interest in companies using executive coaching worldwide to improve people’s performance.
A number of other factors are also influencing the rising popularity of executive coaching. Firstly, there is increased pressure on leaders and their teams with increased regulation, scrutiny and the need to be more accountable and transparent. According to the Harvard Business Review, two out of five CEOs fail in the first 18 months and being a CEO can be a lonely and isolated role. An executive coach can be a confidant and a sounding board – helping a leader evaluate their options and make the best decisions.
There are many other benefits of executive coaching but the best way to see if it works for you and your business is to try it out, which is why at Corporate Counsel we offer a FREE Skype coaching session for potential users to see how it could work for them.
For further details about how executive coaching could be of help to you and your business email Paul Vousden