What are the Benefits of Executive Coaching?

What are the Benefits of Executive Coaching?

• Improved individual performance
• Bottom line results including profit
• Client service and competitiveness
• Development of people for the next level: confidence raising, skills and self empowerment
• Goal achievement
• Relationship improvements
• And retention.

I certainly agree with all of these benefits, but from my experience with my own executive coaches in addition to the work we’ve done on Insight on Coaching, I’d like to point out an important benefit that’s missing:  self realization.

While a difficult concept to quantify, self realization is an important aspect of ourselves that is gained over time through knowledge and experience.  Some of us are lucky enough to find ourselves along the way in both our professional and personal journeys.  Others of us aren’t as lucky.  

As an executive myself, coaching definitely inspired me to become more self aware.

From several guests on Insight on Coaching, I learned about a tool called the enneagram, and I plunged head first into an enneagram program through Helen Palmer’s narrative tradition.  

To say it rocked my world would be an underestimate.  

While it was thrilling to recognize the strengths I brought to the table both professionally and personally, it was sobering, if not downright disheartening, to learn about my weaknesses as they bubbled to the surface throughout the program as well.  

I used the knowledge of my strengths and weaknesses to recall situations I had experienced professionally, and recognized how these attributes of myself came into play.  I also realized how I was my own worst enemy sometimes.  

With the knowledge that came with this self realization, I was determined to lead both myself and my company in an even greater direction.

Then I started 1:1 coaching with a coach from the Strozzi Institute. When I began my initial work with my coach Mark, I thought I knew myself pretty well at that point.  

I was wrong.  You see, there’s always more to learn about ourselves.

Mark made me aware of additional behaviors that impacted my leadership.  Some were big picture observations.  Others were small – but just as important.

For example, Mark noticed my eyes got bigger when I was excited.  While this expression could be helpful when energizing a team around a new vision or concept, it could also be intimidating during a 1:1 conversation with an employee.

I was floored.  I had no idea I did that.  And I certainly had no idea of the impact, both positive and negative, such an innocent behavior could have on how I appeared and interacted with clients, partners, and employees.  

Through on-going coaching, I’ve learned how to harness this behavior more appropriately, while still being able to stay authentic to those things that make me, well – “me.”

As many executives become more self aware throughout their careers – I believe it’s the same.

Ultimately I believe if you know who you are, and you’re aware of both your strengths and weaknesses, you’re going to be more successful in all aspects of your life.

Is executive coaching the panacea to self realization and discovering ourselves?  No.  

But it is an accelerator, and when used appropriately it can have a substantial impact on both individual and organizational performance.

Others agree.

Manchester Inc. released the results of a study that quantified the business impact of external executive coaching. The study included 100 executives, mostly from Fortune 1000 companies, and concluded that “companies were more likely to retain executives who had been coached.”  Also, companies that provided coaching to their executives realized improvements in productivity, quality, organizational strength, customer service, and shareholder value. They received fewer customer complaints of executives who were coached.

Want to hear more?

Tune into the podcast version of Insight on Coaching to listen to our guests discuss the benefits of executive coaching.  

Tom Floyd
CEO
IEC: Insight Educational Consulting
Specializing in Change Management, Workforce Performance, and Employee Development

Executive Coaching

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Executive Coaching isn’t a “Fix It” Solution

Executive Coaching isn’t a “Fix It” Solution

Across all of the Insight on Coaching shows we’ve done on executive coaching, one thing that’s been abundantly clear to me – executive coaching isn’t a “fix it” solution.

Some people can fall into the trap of viewing executive coaching as a performance intervention, used to “fix” or correct areas of improvement for problem employees.  In this scenario, it’s too easy for people to think “if the coach can’t fix you – you’re outta here.” 

An executive coaching program should never be positioned as a “fix it” solution, targeted at those needing corrective action or improvement. 

As you’re building the business case for executive coaching in your company, a significant emphasis will need to be placed on the program as a growth and development tool, targeted at helping high performers hone their skills as they grow and assume greater responsibilities within your organization.

To minimize the “fix it” solution type of thinking, as you’re discussing the value of executive coaching with executives and other stakeholders, it’s critical to have conversations about what executive coaching is and isn’t.

Executive coaching:

• Is a personal development and growth tool targeted at high performers and executives.
• Should be tied to your company’s overall talent management and career development framework.
• Should be focused on enhancing specific competencies or skills tied to an individual’s job role.
• Is a confidential, collaborative relationship between a coach and his/her client.
• Can be one of many components within another leadership development or training program.

Executive coaching:

Establishing a program utilizing executive coaches can produce better alignment between an employee’s personal development and your company goals, the results often including personal growth, improved job satisfaction, and increased retention.

Curious to learn more?

Tune into the podcast version of the Insight on Coaching show dedicated to executive coaching to listen to our guests discuss what executive coaching is, why it’s important, and why it’s valuable.

Tom Floyd
CEO
IEC: Insight Educational Consulting
Specializing in Change Management, Workforce Performance, and Employee Development

Executive Coaching

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What is Executive Coaching?

What is Executive Coaching?

According to a 1999 International Coach Federation survey on Coaching in Corporate America, “there is no consensus of what coaching is, but there is a strong interest in learning more about it.”

While I’ve personally come to understand what coaching is over the past two years that I’ve done the Insight on Coaching show, it’s still an intangible topic for many people to get their arms around.  Yet more and more frequently, from top executives to celebrities, we’re hearing people mention and thank their coaches.

Does that mean all business leaders and executives should have a coach?

In the Business Finance column of the June 27th 2005 issue of New York Magazine, the author says – yes.  “With CEO tenure at an all time low and CEO dismissals at an all time high, retaining the services of a top CEO coach is no longer an option for chief executives who desire to increase their performance and longevity.”

So more CEOs and executives are using them – but what is executive coaching? 

In a nutshell, it’s a series of on-going, regular one-on-one, confidential sessions between an executive and a certified coach who specializes in working with leaders including CEOs, Vice Presidents, Chief Operating Officers, and others at the executive level. 

These coaches can be external experts or internal employees within the company hired to support the company’s executives in this very capacity. 

In initial sessions, executive coaches partner with their clients to help identify capabilities or skills where he/she would like to grow.  From there, an action plan is created that articulates the executive’s goals against these skills.  Subsequent conversations focus on challenges and improvements against those goals, while providing flexibility for goals to change and evolve over time.

Executive coaching can also include principles from sports coaching such as teamwork, personal excellence, and “going for the goal.” But unlike sports coaching, executive coaching is not about competition or based on win/lose.  It’s about growth, and most importantly it’s about self-realization.

What type of skills are executive leaders asking for help with? 

From overall leadership to organizational agility to dealing with shareholders, the sky is truly the limit.  However in order for executive coaching to be effective, it’s important the client choose those skills that are impactful or meaningful to his/her success personally. 

What I hear from both Insight on Coaching guests and from leaders themselves is the types of skills required for success at the executive level continue to change – and fuel an even greater need for executive coaches

Dayton Ogden and Tom Neff state in the January/February 2007 issue of Chief Executive magazine that “the fast-changing business climate demands a whole new CEO skill set.”  Their analysis is based on the Spencer Stuart survey which found that 95% of recruiting consultants at the company agree that leaders appointed to the CEO post require an entirely different approach, skill set, and set of experiences than their brethren who took the helm a decade earlier.

So is an executive coach’s ability to inspire self realization and growth against a constantly changing skillset in high demand? 

You bet it is.

According to the Society for Industrial and Organizational Psychology, “the demand for executive coaching has skyrocketed in the past five years. Today’s executive coach is intended to help leaders and potential leaders with the challenging road of organizational growth in today’s dynamic and unstable work environment.”

How are companies using executive coaches?  Well they’re using them to:

• Attract, develop and retain executive talent.
• Enhance personal transformation and growth within leaders.
• Develop a succession planning process that ensures a constant pool of qualified candidates to fill experienced roles at the executive level.
• Provide leaders with a means to hold themselves accountable to developmental goals discussed between them and their coach.
• Groom executives to continue to take on increasing responsibilities.

Want to hear more?

Tune into the podcast version of the Insight on Coaching show dedicated to executive coaching to listen to our guests discuss what executive coaching is, why it’s important, and why it’s valuable.

Featured guests on our Executive Coaching show include:

• Lyne Desormeaux, Clinical Psychologist and certified Co-Active Coach
• Alyssa Freas, Founder and CEO of Executive Coaching Network, Inc
• Anna Marie Valerio PhD, President of Executive Leadership Strategies, LLC

Your Insight on Coaching Host,

Tom Floyd
CEO
IEC: Insight Educational Consulting
Specializing in Change Management, Workforce Performance, and Employee Development

Executive Coaching

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