2023

There’s been a lot of discussion about the challenges facing businesses in 2023, including a slowing economy (or recession), the likelihood of layoffs and importance of having the right talent to navigate the headwinds.??What has been missing are practical ideas about how to engage teams effectively. Strategies like “making key hires” and “challenging people to step up” will quickly become meaningless platitudes unless they are accompanied by actions that enable these folks to succeed. Today, large parts of the workforce are exhausted by the pandemic and exhibiting low levels of engagement and optimism. Reengaging and reinvigorating them is the leadership challenge for 2023.

In “The Secret Life of Bees” Sue Monk Kidd writes “If you want someone to do something, give them a hand.”?Likewise, if organizations are relying on key leaders to drive their success, they need to find ways to help them succeed. Here are two things that can help:?

1.?????Ensure leaders are properly prepared to communicate effectively.??Communications are key to engagement, and we’ve seen time and again great leaders are great communicators.??However, not everyone has the gift of the gab.??Providing them with presentation training and other communications support can help bridge this gap.

2.?????Provide your new hires and key leaders with an Executive Coach who can help them think through the myriad of challenges they will face next year.??It’s not possible to predict precisely what many of these challenges will be and having a coach will help leaders be nimble and respond appropriately.??

In difficult economic times training and development budgets often get cut or eliminated. However, when success depends on new hires or leaders stepping up to lead important initiatives, this is a risky move. New hires are at risk of “organ rejection” when joining an organization and can find getting traction difficult.??Helping them overcome these hurdles directly impacts the bottom line.??Likewise, executives leading change frequently come across complex challenges that can derail their efforts. Ensuring these leaders have the proper support to see things clearly, connect dots and respond thoughtfully should be regarded as a critical investment.??The good news is the cost involved is a mere fraction of the value of their mission to the organization. It is important therefore that management be aware of the issues as they make budget adjustments.

When asked, most senior executives state they are willing to make investments in key leaders. They will, however, likely question if having a coach is the right help.??Put another way, could that money and time be better invested elsewhere???While there are no guarantees, studies have shown?that?70% of clients report that coaching produces a meaningful improvement in their abilities and assistance in attaining or exceeding their goals.??86% report a positive return on their investment of time and money. Today about?50% of Fortune 500 companies use coaching?and in the 2021 Chief Learning Officer survey?60.5%?of respondents?stated executive coaching was their preferred tool?for helping executives deal with the challenges of a post-pandemic world.?In short, coaching can be a very effective support tool and one that is gaining popularity.

So, should all executives have a coach? No. There are two reasons for this.??First, the critical success factor in coaching is the executive must be coachable.??If they are not, coaching won’t help. Secondly, the executive should have goals that coaching can help them achieve. These can include bolstering skills, stepping up or preparing to step up into a bigger role, getting traction in a new organization or leading change.??If these two criteria are met, coaching can be a real success driver.?

In any economic climate, but especially difficult ones, finding ways to give leaders and teams an edge is a good idea.??In the right situations with the right people coaching can be just that. It’s certainly an option worth considering.