"Coaching" used to be a popular approach for derailing executives or professionals whose performance needed a lot of work. Got a problem? Get a coach. However, increasingly, coaching is being sought by some of the most successful executives in their field – those who want to get even better at their business game. So the new thinking is…Got a goal? Get a coach.
Executive coaching has evolved quickly over the years. Some consider it a field in itself; others consider it a form of consulting. There are many interpretations for “executive coaching". No matter how you define it, coaching can be a useful tool for executives who want to develop as leaders.
Rather than debate the definition of coaching, it’s more important to consider the type of coach and approach that’s most appropriate for you given the results you want to achieve. Some executives have difficulty articulating concrete desired results, but a skilled coach can help. Often executives simply haven’t taken the time to slow down and think things through.
Coaches come in the form of business professionals, psychologists, trainers, consultants, authors, etc. They come from all walks of life. Some are tough, challenging and direct. Some are sensitive, encouraging and indirect in their style. Some impose a particular process. Some are more flexible.
A consultant with expertise in communication may focus on executive coaching that emphasizes presentation skills. A fashion consultant may offer executive coaching with an emphasis on professional appearance. Other executive coaches focus on leadership skills or business strategy. The approaches are as varied as the professionals who deliver coaching services.
Selecting a Coach
Ultimately the most important factor in selecting a coach is the coach’s track record and his/her ability to establish the kind of relationship with you that helps you achieve results.
Senior leaders who have few peers seek out coaches to discuss business and professional goals. It’s a decision that should not be made lightly.
Coaching relationships can be structured a variety of ways. Consider whether you want to work with a coach in person, by phone or both. Know what’s most important to you in selecting a good coach.
Finding the right fit is everything. You’ll know you have the wrong fit if you feel you’re wasting your time, dread your coaching conversations, or focus on issues that aren’t directly relevant to your goals. Listen to your instincts and find the best fit.
Coaching Issues
With the complexity of issues that challenge executives, there is never a loss for discussion topics between a coach and client. Below are a few of the issues that many of today’s top-performing leaders discuss with their executive coaches:
• Staying focused on top priorities • Increasing accountability for follow-through • Building skills in particular areas (such as communication or decision making) • Dealing with organizational politics • Thinking strategically • Handling stress & avoiding burnout • Managing teams & dealing with sensitive personnel situations • Influencing others • Negotiating • Brainstorming new ideas/creative thinking • Personal career planning • Life-work balance issues • Establishing clear goals and action plans
Success Factors
In addition to finding the right coach, here are a few success factors to keep in mind for those who engage in a coaching process.
• Establish clear guidelines for the relationship and coaching process on the front end. Don’t make assumptions.
• Share feedback. If something is not working, discuss it.
• Acknowledge progress and successes along the way. This helps build momentum.
• Involve other stakeholders if necessary. In some cases, others in the organization can participate in the process to share input and feedback.
Executive coaching is not for everyone. It’s only for those executives who are highly motivated, who are committed to leadership development and who want to engage in the process. Expect a minimum commitment of six months to a year.
Company Sponsored Coaching Programs
Many more companies now recognize the importance of promoting coaching within their organizations. Many have formal coaching programs that include internal and external coaches. Organizations that sponsor coaching programs need to be diligent about connecting the benefits of coaching with business results in their organizations. Without a results focus, organizations run the risk of promoting coaching for its own sake – a “campaign for coaches," instead of solutions for executives. Coaching is simply a means.
Corporate initiatives that mandate or roll out a coaching program too broadly jeopardize the effectiveness of the program. Often those who need coaching most are least likely to be open to the process, but top performers are always looking for a leading edge. Finding the right coach can be the leading edge you need to succeed professionally.
Executive coaching is a one-on-one process dedicated to the development of the leader. Ninety-seven percent of our executive coaching services are sponsored by the leader's employer, however the opposite is true for the general population of professionals, with 97% of all coaches hired by the individual.
We have found that the value of coaching is exponentially increased when sponsored by the employer, aligned with the employer's goals, and involving the employer at key points in the leader's growth. As many go-getters know, however, these resources are often not sponsored by their employers. If you are an employer, carefully consider the guidelines below in making your decision. If you are an individual seeking guidelines for your own investment, stay tuned for our upcoming article on choosing an individual coach.
Inside organizations today, the name executive coaching is actually a misnomer in many cases, as more and more executives invest in their directors and managers years in advance of promotion to the executive level. This is a savvy investment, as it allows the budding leader to take current performance to a new level while preparing for executive responsibilities, and smoothing the transition to a much larger role. It's also an outstanding retention tool. As you can see, if you're not coaching your go-getters, someone else is, and the more they invest in their own careers with their own funds, the less likely they are to see your organization in their futures.
Although coaching investment is small compared with other employee costs, such as salary, bonus, and stock, we take the investment seriously, as it represents not only money, but the most precious resource of all, time. Strange as it may seem, Selby Group consultants at times respectfully reject requests for executive coaching, because there is inadequate evidence that the value to the employer is great enough to justify the investment of time and money.
Considerations for Investment in Executive Coaching:
1. What will this individual's growth allow you to do that you can't do now? Examples:
* gain new sales
* turn him loose with the investment community to raise three times the funds he is raising now
* reduce my direct involvement in her team and focus my efforts on new business
* improve morale and decrease attrition of our highest-paid and hardest to replace professional staff
2. What is the value of this change? How will your condition be improved if the leader hits or exceeds his or her development goals? Examples:
* We can reduce rate of manufacturing errors at least 30%, which totals $2.4 million over five years and finally brings our costs in line with our competitors
* We can leverage her C-level relationships to build new business and take key accounts from our top competitor
* Once this person can take the reins, I can move on and move up
3. What is at risk if you don't develop this leader? Examples:
* Lost opportunity; our competitors are already ahead of us on 12 fronts
* Loss of key accounts; decision-makers want a more senior-level discussion from our Client Services VP; our key competitor has just landed a seasoned VP and is going after our accounts
* Lost revenue
4. Which outcomes are most important to you?
5. How will you know the leader has achieved success? How will you measure progress toward the outcomes?
* Steady increase in case value
* Steady reduction in turnover in Engineering
* Fewer new hires let go in first six months due to poor performance
6. Why now? Examples:
* Pending promotion
* Unique opportunity in the competitive environment; if we don't leverage it now, it will be gone
* Realized we have a huge gap in succession planning for VP of Marketing
* Losing our best people and want to invest in remaining top performers to show we're serious about providing opportunities for growth at our firm
* Excellent track record in bringing in revenues, but a recent blip in performance, want to get him back on track and develop his potential to double revenues
* Individual is a star in own field, but has lost 50% of team members because they can't stand working with her big ego, and we can't convince others to transfer into her department for the same reason
7. Why Selby Group? What are you looking for in a consultant? Experience? Credentials? Leadership? Empathy? Support? Willingness and finesse in delivering tough feedback?
8. Why coaching? Coaching alone is not the best solution to challenges involving more than one person. Team development, restructuring and realignment, staffing changes, or change management are some of the many powerful alternatives to address more complex challenges.
Both Gayle Lantz & Jennifer Selby Long are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Gayle Lantz has sinced written about articles on various topics from Management, Leadership and Mentoring. Gayle Lantz,/, Founder of WorkMatters®, is an organizational development consultant and executive coach who works with organizations that want to develop. Gayle Lantz's top article generates over 14800 views. to your Favourites.
Jennifer Selby Long has sinced written about articles on various topics from Leadership, Holidays and Small Business. Jennifer Selby Long, Founder and Principal of Selby Group, provides executive coaching and organizational development services. Jennifer's knack is helping clients navigate the leadership and organizational challenges triggered by change and growth. She k. Jennifer Selby Long's top article generates over 5400 views. to your Favourites.