There has been a surge of interest in Executive Coaching in the past few years and many Executives now believe it is essential to have a personal Executive Coach who is highly skilled in effective professional development and business improvement to provide an external perspective, identify and address their interpersonal kinks, and to assist them to develop into more effective leaders and to build high-performing teams.
One prominent example of a successful Executive who understands the advantages of having an Executive Coach is Eric Schmid, former CEO of Google.
Executive Coaches may serve a variety of roles, offering everything from business skills, management & leadership skills, building high-performing and self-managed teams and career-related advice... to being a sounding board for new strategic directions.
So the question is: are the benefits of Executive Coaching worth the investment?
Recent researchers working with Executives with access to Executive Coaching asked: do the Executives make better use of the performance feedback they receive, are they more productive and do the Executives subsequently receive better performance ratings than Executives without such help?
The research confirms the answer is a qualified "yes". For instance, key areas that Executives received higher performance feedback about are focus, goal setting and achieving outcomes. The Executives who had Coaching subsequently developed more specific objectives than their "coach-less" colleagues. This is reflected in greater efficiency, better team morale, higher performing teams and less staff attrition.
On top of that, the Executives who work with Executive Coaches also receive better performance ratings over time, from both their Superiors and their direct reports.
All of this underscores the importance of examining the context when making decisions about whether or not to invest in an Executive Coach.
Typically an Executive is faced with so many burning issues every day, that they struggle to focus on the important issues, namely, to implement better systems, develop high-performing teams, efficiency and profitability. Too often, the Executive is the best salesman, the best accountant, or the best operations person, rather than the best leader, team and systems builder.
An Executive Coach empowers the Executive to focus, and work on the important issues, not only on the urgent ones.
The key here is that the top Executive who builds better systems and teams, in turn is better able to more effectively support clients/customers and with more (and happier) clients/customers, the business is more resilient and more profitable, which is the ultimate goal of any organisation.
To find out how Executive Coaching will work for you and your organisation click here