What can you get out of Executive Coaching?
Posted on September 15, 2016 by Samuel Yeo, One of Thousands of Leadership Coaches on Noomii.
Bill Gates said "Everyone needs a coach. We all need people to give us feedback. That’s how we improve.”.
Why Executive Coaching ?
Bill Gates said "Everyone needs a coach. We all need people to give us feedback. That’s how we improve.”. Former Google CEO Eric Schmidt said the best advice he ever got was to get a coach. Venture capitalist Fred Wilson advocates coaching too, especially for first-time CEOs.
Business executives today are expected to quickly deliver results while managing more workers of varied backgrounds and talents all across the world. They are dealing with globalization, stiffer competition, shrinking talent pools, challenging economic situations, and ever-changing market conditions. And for those top executives who feel that they can handle it all by themselves are more likely to stress out, make poor decision or no decision at all – resulting in loss of opportunities, financial resources and talents.
Executive coaching has proved to be very beneficial to organizations, regardless of the size of an organization, or for how long it has been in operation. Companies have long used Executive Coaches to develop their high potentials and to continuous develop current executives’ leadership skills to ensure company success. The executive coaching sessions are also important for a new managerial team, executives who want to improve their relationship with workers, professionals who want to appreciate their work more and create a better working environment and, ones who want to change their leadership/managerial styles.
What can organizations get out of Executive Coaching ?
Increasing, there are more evidence that coaching is one of the most impactful way of developing people and adding to bottom line business performance. Manchester Consulting reported in The Manchester Review (2001) an average return on investment of 5.7 for executive coaching services and measurable tangible impacts as well as intangible benefits. The research was based on a survey of 100 senior executives mainly from US Fortune 1000 companies.
Tangible benefits
•Enhanced productivity (personal and corporate) by 53%
•Improved customer service by 39%.
•Increased retention of people by 32%.
•Reduction of costs by 23%
•Increase in bottom line profitability by 22%
Intangible benefits
•Improved working relationships with direct reports/ managers
•Improved business relationships with customers
•Improved teamwork.
•Improved job satisfaction.
•Reduced conflict.
What can I get out of Executive Coaching ?
Executive Coaching is for executives who say that “I want to get over there, but I’m not sure how to do it, and I need support”. As an individual, these are some of the possible benefits that you can derived from Executive Coaching:
1.Learn to solve own problems
2.More self-awareness and learning about your blind spot, and areas where you can improve
3.Greater productivity, motivation and confidence
4.Have better relationships with Stakeholders
5.Have positive impact on performance
6.Reduce stress and improve work-life balance
7.Space to hear your own voice and gain perspective
8.Awareness of beliefs, fears, and attitudes that may hold you back
9.Clarity on your values, strengths, passions and what you stand for, which leads to greater conviction and focus on goals
10.Improved skills – communication, delegation, conflict management, team building, persuasion, etc.
Critical Success factors
Working with an Executive Coach provides significant tangible and intangible benefits for individuals and organizations. In order for Executives and Organization to reap the benefits of Executive Coaching, there are some few key factors to look out for:
•Coach/participant relationship
•Quality of coaching feedback and assessment
•Some alignment of Executives’ coaching goals with Organization’s goals
•Executives’ commitment
•Strong organisational support for coaching.
Quote : “Who exactly seeks out a coach? Winners who want more out of life.” ― Chicago Tribune
What is your biggest challenge with your personal or professional life right now ?
I’ve worked with literally hundreds of working Executives with their careers and life goals, so I should be able to support you to unlock your potential and help you reach your meaningful, important objectives. Just drop me an email at sam@beacon-search.com
Samuel, the Managing Director and Founder of BEACON, is a certified Marshall Goldsmith Stakeholder Centered Coach, NewField coach and Associate Certified Coach with International Coach Federation.
He believes in the human potential to be the best that one can be and is determined to help people live their lives courageously and passionately.
