Executive coaching has become an investment that continues to yield an increasing return on investment for organisations. Just a few short years ago, Entrepreneur magazine reported corporate America spent more than $1 billion a year investing in executive coaching for leaders. Needless to say, executive coaching works and is worth the investment. Now, the focus has grown towards, not investing in millions of dollars on professional development to correct issues with performance for employees not committed to stellar leadership, but rather investing in high potential employees.
Business leaders who work with an executive coach can benefit by having an experienced accountability partner who assists them with effective leadership, optimal performance, and career advancement, as well as identifying blind spots and roadblocks. Executive coaching is a two-way relationship between the leader and the coach. It is future focused and works from the domain of conversation (using inquiry and deep listening) to increase the executive's self-awareness and self-mastery in professional relationships, skills, ways of thinking, and being.
Coaching can be an integral part of a learning organisation. In a fast-paced environment, high performing individuals are expected to have keen technical skills and exhibit strong leadership, ownership, and accountability behaviours. When business leaders drive performance from leadership, ownership, and accountability, they are better positioned to make decisions, interact with and lead teams, and provide world-class customer service.
Business leaders looking to achieve long-term success would benefit from working with an executive coach. Here are just a few ways executive coaching can benefit you as a business leader:
Modelling Leadership from the FrontAs the CEO of your company, working with an executive coach models the commitment you have to personal development, and sets a great example for your subordinates. It will imply that you are eager to learn new things for personal growth and for the betterment of the organisation. It can position you to discover new ways to achieve the targeted goals for your organisation, identify and utilise the strengths of individual team members, and integrate the team’s strengths with the mission of the organisation.
Enhanced ProductivityThe performance of a CEO has a direct effect on the performance of the organisation. With an executive coaching programme, you can see improvement in your performance, which can ultimately lead to boosting the performance of your organisation. Moreover, with the effective coaching, you can create a healthy and more productive work culture that permeates throughout the organisation and further enhances the productivity of the organisation.
Empowered Decision MakingExecutive coaching focuses on what is important and can support you in making empowered decisions that you ordinarily may hesitate to make otherwise. Executive coaching helps you gain clarity and helps you develop plans to minimise distractions and focus on actions that align with the business mission, vision, value, and goals. Working with an executive coach encourages you to work on projects that propel you forward and help you stay abreast of the latest trends, to maintain pace with the modern world. It can support you as a business leader in identifying and learning new and innovative techniques to stay prominent in the market.
Effective Feedback and CommunicationThe key to evaluating performance is truthful feedback, and there can be no better way for you to get quality feedback on your performance than using executive coaching tools.
Effective communication in a business is one of the key areas which can help you reach the businesses aims and goals. With the executive coaching programme, a CEO is taught to enhance their communication skills, which in turn, will help their business to flourish as they will be able to communicate their messages and ideas in a better and clearer way, leaving no room for ambiguities and confusion.
Driving Results and Organisational ShiftsOne of the best benefits of executive coaching is the potential to get measurable results that can lead to organisational shifts. Executive coaching can support corporate leaders with driving a shift from a culture of firefighting to a culture of creating sustainable and repeatable processes. Executive coaching also helps employee engagement; from stovepipe communication to enhanced collaboration; from creating a fear of consequences to creating a safe space for risk-taking; from focusing on weaknesses to recognising and levering strengths; from solving all the problems to helping others solve and prevent problems; and from being the sole source of approval to being a champion for collaboration and resolution.
The benefits mentioned above clearly highlight some benefit of executive coaching. The commitment to executive coaching could yield growth and prosperity that far outweigh the initial investment.
Sophia Casey, who was recently featured in SUCCESS magazine, is an international award-winning keynote speaker, Professional Certified Coach (PCC), and corporate trainer. Her companies specialize in providing customized leadership development solutions to interrupt ineffective management practices and accelerate the personal and professional transformation of leaders. Learn more at www.CoachSophiaCasey.com
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