Putting Executive Coaching Services On Trial
As the new year approaches, it’s only natural to review how well your company performed during the past 12 months—and, whether you make business-related resolutions or not, you’re surely making plans for a more successful upcoming year.
So, what about including executive coaching services in the upcoming year? Would they be beneficial? No two coaches define their executive services in precisely the same way; but, overall, these services provide support, motivation, feedback and more to facilitate high performance, often both personally and professionally.
We know, from our experience in coaching, that these services can provide exceptional benefits. But, in this post, we’re going to put these services on trial, putting them to the test, sharing information provided from trustworthy sources as part of our analysis.
Benefits of Executive Coaching
When done well, there are clearly benefits to the executives and their companies. Research provided by Fortune, for example, indicates that Fortune 1000 companies using executive coaching services benefited by a:
· 53% boost in productivity
· 48% increase in organizational strength
· 32% increase in senior personnel retention
· 23% cost reduction
· 22% increase in bottom line profitability
An article in Forbes.com, meanwhile, points out how executive leadership coaching can allow executives to both see themselves more clearly and to see others more clearly. Leaders with accurate self-awareness, research shows, can more effectively lead organizations in a profitable way—and employees are more willing to follow these kinds of leaders. A perceptive coach will help leaders to question assumptions and gain clarity about where they can become even stronger. Executive business coaching can also help leaders more accurately assess those around them, which allows them to develop, support and reward employees.
Does Executive Coaching Work for Everyone?
Absolutely everyone? No. And, we believe there are a few reasons why.
1) Someone is feeling pressured. So, if you believe someone you know could really benefit from this type of support, it’s usually better if you share benefits of executive coaching but avoid hard-sell tactics. Few people like to be pressured.
2) He or she is open to being coached but likes to research the subject first. This kind of person may just need a bit more time before starting.
3) The executive and coach weren’t paired well. Just like with any relationship, different people have different philosophies, approaches and methods. So, if you’ve tried leadership coaching in the past and felt it really didn’t work, you may just need a different coach!
The Harvard Business Review validates our bullet points, saying that, “Willingness and good chemistry were by far the most frequently cited ingredients of a successful coaching relationship.”
Picking the Right Coach
Just as executive coaching definitions can differ, so can methods of selecting the right coach. But there are key elements that are across-the-board important. For example, if you talk to a coach and ask him or her what models are being used and what outcomes can be expected, it’s reasonable for you to expect a clear answer.
Some coaches offer a highly structured program, while others build in more flexibility. Some come from psychologist-based backgrounds, while others come from the business world. What’s important is that executives select the coach who can provide what’s needed using an agreed-upon approach.
Yes, you should feel comfortable with your coach, but he or she should also challenge you to continually improve, holding you accountable, and helping you to step out of your comfort zone as you achieve goals and dreams.
The Forbes Coaches Council in 2018 shared 15 executive coaching trends, and we’ll share two. The first is that, because of today’s technology, coaches and executives can meet through online platforms, making physical location far less important now, allowing you to choose the best coach for your needs without geographical constraints.
Another trend is that using executive coaching services will become a norm. After all, the article shares, “Who wouldn’t want less stress and more productivity in their lives?”
Working with Upward Aim
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We follow three simple principles, to:
· make a difference in people’s lives
· drive human worth and effectiveness in the workplace
· help each organization we work with become the provider, employer, and investment of choice
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