Even Executives Need Coaching
CAREER DEVELOPMENT: Coaching provides support for leaders, prepares them for future opportunities.
Just like writers need editors and children need parents, current and future executives need … coaches. And executive coaching or one-on-one business mentoring isn’t just for a company’s top officers. More companies today are hiring executive coaches – who tend to focus on improving communication, time management and stress management skills – to groom their high-potential employees, changing the way firms develop and maintain their corporate culture and train executives-to-be.
“Coaching has really blossomed,” the Society for Human Resource Management. “Companies are recognizing that investing in people makes a big difference to the bottom line.” Coaching, in personal and business capacities, has become a $1 billion a year industry in the United States. Some surveys indicate that half of all businesses now employ coaches.
Many people are thrust into executive positions unprepared, don’t let it happen to you.
Coaches on rise
A recent survey indicated nearly half of the 212 organizations queried said they provide coaching to their executives and managers. Other surveys have returned similar results. Coaching is becoming ingrained into the culture of many companies. It’s used to help top performers become even better."
Often, professionals are deciding on their own they need a coach. Many top managers seek help because they are overcommitted and unable to say no to their bosses.
Having a coach gives executives an outside, nonbiased shoulder to lean on. They can talk to their coaches about things that may not be appropriate to talk about with subordinates or superiors – and the coach gives honest feedback.
A lot of times, Execs/Managers see themselves one way but other people are seeing them entirely differently. So they have no idea what’s going on. Here is where coaching can be very enlightening and helpful in facilitating the desired transformation. A lot of executives know exactly what they need to work on. Their just not sure how to achieve their desired outcomes.
The key is trust
It’s about building a relationship, and there needs to be a big level of trust. Everything that happens is confidential. You really do make yourself vulnerable to the person you are working with.
The value of taking that leap of faith to work with a coach can be measured in dollars. New return-on-investment research shows hiring a coach can lead to increased productivity and financial gains.
In one 2004 study, executive coaching at Booz Allen Hamilton, the business consultants firm, returned $7.90 for every $1 the firm spent, according to MetrixGlobal LLC, the Iowa-based consultancy that did the study.
“Coaching can be effective and it can have a real value,” said Frederick Morgeson, a professor at the Eli Broad Business School at Michigan State University and a industrial organizational psychologist.
When choosing a Coach check them out and make sure you feel comfortable. You want a coach that is going to empower you and build independence and not dependence.
Here are some questions and answers about professional coaching:What is coaching? It’s a professional partnership between a coach and an individual or team, working together toward preset goals. For example, a coach may help someone learn how to more effectively communicate, get organized or cultivate a certain management style. What are the benefits? It gives a fresh, outside perspective on personal challenges someone is facing. It can help thinking and decision-making skills and boost confidence. Why would you want one? Reasons include a new goal that needs to be achieved, realization of a gap in knowledge, skills or confidence, a need to get better organized, a need to recognize strengths and capitalize on them, or a desire to make work and life simpler. Why is the field growing? The challenging, changing job market is why coaching is gaining momentum. Today, there’s more job transition, more self-employment and small businesses. Also, corporate restructuring and a change in attitude toward the way work is structured has created a need for coaches. What should you look for? Connection, someone you can connect with. Results, someone who will help you clarify and move toward your desired outcomes. And success stories, ask for testimonials.
Would you like to see if I am the right coach for you?