Do you need an Executive Coach?

“Janet” was the only female in the Engineering team of her organization.?When I first spoke with Janet, a soft-spoken mother of triplets, she had two goals that she wanted to accomplish through coaching; “to find my voice and be heard”.?Several bi-monthly coaching sessions later, Janet is now a Vice President in her organization.?Although she is still the only woman in the leadership team, her views and opinions are sought, respected and valued.?She also is a role model for aspiring young women in her organization.????????

Someone once said, “A Good Coach can change a Game. A Great Coach can Change a Life.”[1] I have witnessed with awe the transforming effect that Coaching has on an individual.?This clearly explains why Coaching is the 2nd fastest growing industry in the World, currently valued at US$ 2.4 billion.[2]

Is Executive Coaching a Business requirement or a ‘nice-to-have’?

In the past, Coaching was used to guide ‘problem’ employees – those who had difficulties with meeting targets, collaborating, communicating or managing teams.?Today, Coaching is included in standard leadership development programs for executives in companies including IBM, Motorola, J.P. Morgan Chase and Hewlett-Packard. ?According to the Hay Group, approximately 25 – 40% of Fortune 500 companies regularly use the services of executive coaches.?

Several studies have been conducted to gauge the ROI on coaching.?An ICF study reports, “the vast majority (86%) of those able to provide figures to calculate company ROI indicated that their company …. made their investment back. In fact, almost one fifth (19%) indicated an ROI of at least 50 times the initial investment while a further 28% saw an ROI of 10 to 49 times the investment. The median company return is 700% indicating that typically a company can expect a return of seven times the initial investment.”[3]?

Do Leaders require Executive Coaching?

Another coaching success story is about “Damith”, who was a newly appointed CEO who was promoted to the CEO role because of his superior performance and work ethic.?Damith and his Board of Directors realized that, as the Chief Executive, he needed to hone a new set of leadership skills whilst developing a vision for himself and the organization.?Through coaching, Damith built his own personal brand and articulated his vision for the organization.?He learnt to leverage his own unique style and inherent strengths to be a highly effective leadership role model to his team.

Working with a qualified and experienced executive coach will enable leaders, and those earmarked for leadership roles, to dramatically improve their leadership capability. ?A coach works with her client based on where he is in his leadership journey and where he wants that journey to lead to.??The Coach and the client will set realistic goals, track milestones, regularly check on progress and use tools, books, videos and other approaches that the client utilizes to grow and develop leadership skills.?

I believe that self-awareness is the cornerstone for effectiveness – at work and play.?Whilst knowing oneself is important for employees of any level, it is doubly important for Leaders to know their own preferences, inherent strengths, possible ‘gaps,’ decision making ability and communication style.?Therefore, I usually begin my coaching relationship with a client by using psychometric tools to assess his or her personality type which then forms a solid starting point for our ongoing discussions.

Several of my CEO clients, are ‘Commanders’ who have a clear view of where they want to take their organization, are impatient to get there and relentlessly drive everyone (including themselves) on this journey.?Frequently, this leads to bruised egos, dis-engagement and conflict – possibly even driving a good employee right into the waiting arms of a competitor!?Whilst Commanders are admirable, they often need to be coached on emotional intelligence, delegation, patience and tolerance.

Although initially Commanders may be skeptical of such ‘soft-touch’ approaches, when they begin to see the results of their changed approach as a result of coaching, they become converted leaders who model emotional and social intelligence, and inspire (rather than coerce) people to become fully invested in the organization and its vision.

Are you Coachable?

Executive coaching will undoubtedly boost your performance and job satisfaction. ?However, coaching requires an investment of time and money.?Whilst coaching fees vary depending on your location and the coach’s experience and skill, a minimum commitment of 12 hour-long sessions is required for an Executive Coaching program to be effective.?

But, first, you need to ask yourself if you are really ready to be coached.?My experience is that those who are most receptive to coaching and, consequently, gain the most benefit from their coaching relationship, are those who are open to being vulnerable.?For instance, your coach and you will explore why you think or act in a certain way which might compel you to do some deep introspection.?Whilst this will eventually be revealing and tremendously helpful, it often is an uncomfortable journey getting there.

Some of my best ‘coachees’ are those who are willing and eager to try to do things differently.?Therefore, you must be able to be open to breaking away from some of the ways that you have lead and managed, even if these approaches don't come naturally to you. ?

Frequently, a coach will guide you in a way that you will see your own shortcomings.?Whilst we need to hear these, they are never pleasant.?So, if you are ready to embark on a coaching relationship, you must be ready to take responsibility for your blind-spots.?Often, we tend to deflect issues from ourselves by blaming our organization, boss or team. This, then stifles your growth; whereas acknowledging your failures, together with a supportive coach, will pave the way for your development.

One of the most essential and rewarding elements of a coaching relationship is to help a client leverage on his or her skills.?It may be an unusual observation, but many of my clients are oblivious to their own innate and inherent skills.?My client, Anthony[4], for instance, was a visionary.?However, he had to be reminded often during our coaching sessions that his ability to predict and anticipate futuristic, sustainable solutions for his customers was a skill that he had to capitalize on.?Knowing that you have a particular skill, and having it duly validated by your coach, gives you the impetus to maximize your ‘gift’ to its fullest.?It is incredibly powerful!

You must be committed.?Coaching does require that you are fully invested in your own development.?(This, in my opinion, is a no-brainer.?Why wouldn’t anyone be invested in his or her own development?)?However, you have to be prepared to dedicate the time, effort and be fully present during your coaching sessions.?Set up your meetings when you cannot be disturbed, put your phone on silent mode, inform your stakeholders that you are busy and lock your door!?You will not get the most out of your coaching relationship if you have frequent interruptions, urgent phone calls and emails to be attended to or have to be at another meeting at the same time (obviously!).

Finally, Coaching is not a quick-fix.?This important point must be emphasized to both the coachee and his sponsor.?Coaching is a long-term behavior modification program in which the coachee is fully invested. ?Someone once said that good habits are easy to break and hard to acquire whilst bad habits are easy to acquire and hard to break.?This is true for coaching; it is a process which gradually awakens your true potential including your flaws, gaps and brilliance which, through repeated practice, will enable you to be highly effective and fulfilled.

How to select a Coach?

The number of business coaches Worldwide has zoomed more than 60% since 2007, according to some coaching associations.?So, finding a coach should not be an issue.?But, finding the right coach - for you - should be a serious consideration.

The Coaching industry is still largely unregulated.?Therefore, there are many practicing coaches who do not seem to be qualified for the role.?It is best to seek out a certified coach for you or your employees.

I believe that coaching is a relationship.?Your coach and you must be comfortable with each other and share certain fundamental values.?For example, if you have a strongly held belief that is in direct conflict with your Coach’s principles, your coaching relationship will be difficult.?

You and your coach must have mutual respect for each other.?No coach should ever make her client feel ‘small’ or intimidated.?The coaching relationship must be based on trust, confidentiality and mutual respect.

Finally, a coaching must be professional – at all times.?So, when selecting a coach, ensure that your coach is a true professional.

The Benefits

Business Transformation is amongst the top benefits that organizations gain from executive coaching.?Organizations seek coaches who can work with their client to develop new business practices, implement modern technologies, or adopt sustainable strategies. ?A recent study reported that executives from Fortune 1000 companies who were coached, showed a 39% improved customer service, 23% cost reduction and a 22% increased bottom-line profitability.

Not all the benefits of coaching are immediately apparent nor have a direct impact on an organization’s bottom line.?Executive coaching often focuses on leadership skills, relationships with stakeholders, communication, teamwork, problem solving, decision making and conflict resolution - or a combination of these skills.?The results of a coaching intervention can be quite dramatic.?A survey reported by Clear Coaching Limited found that executive coaching resulted in improvements in work relationships within a team (50% frequency), employees' abilities to see others' perspectives (47%), and improved atmosphere (40%). ?

Coaching often has an intangible benefit of reducing stress. Executive coaches provide a sounding board and empower executives with techniques to deal with stress.?Reduced stress has a positive impact on productivity levels.?

Individuals who have been coached are better mentors and role models to their colleagues and teams, which results in higher levels of overall wellbeing.[5]?

A happier employee is a more productive person.?Studies have found that executives who have been coached experienced a better work–life balance and improved relationships with their family members[6]. ?For every employee who is coached, there are many others who are associated with him or her (including his peers, managers, stakeholders and family members) who are also positively affected.?This, indeed, is a positive ripple effect!

Today, the culture of an organization frequently is ranked higher by employees than the compensation they receive.?Therefore, the role that coaching of individuals plays in the creation of this workplace culture, is more important and relevant than ever.

Whether you’re examining bottom-line results or the holistic impact on employees’ lives, executive coaching is a benefit to everyone in and around an organization.

The Future of Business or Executive Coaching

Business or Executive Coaching is required today more than ever before.?The demand for coaching services is growing at 6.7% so we can reasonably assume that the coaching industry will continue to grow rapidly.

Most organizations offer their employees a standard set of benefits such as medical insurance, life and accident cover, leave and perhaps holiday and gym membership allowances.?However, progressive young companies now offer Executive Coaching as part of their overall benefits package.?Think about it.?An employee who avails himself of the sponsored benefit of hiring an Executive Coach will not only help him or herself, but also be more productive.?It’s a win-win situation!

With COVID and lock-downs, coaching meetings are now conducted virtually.?Does this impact the effectiveness of coaching??Having conducted coaching sessions in person as well as virtually, I can confidently conclude that a virtual meeting does not, in any way, impede the effectiveness of coaching.?In fact, I have never met some of my overseas clients, however, I have excellent coaching discussions with them.?However, there are some ground rules that both parties have to agree to in a virtual coaching session.?The most important of these is that you must have your camera on, make direct eye contact and be fully present, sans distractions.???

The employees in our workplaces of the future will be Millennial and Gen Z’s.?Managers complain that these younger employees are ‘difficult,’ ‘have no loyalty’ or ‘are too self-absorbed’.?Maybe so (or not), but Millennials and Gen Z’s are here to stay. ?And, they value, honor and accept their differences and uniqueness. ?Therefore, our one-size-fits-all style of management leadership has to change.?On-going coaching is essential for both Managers and employees on how they must leverage on their strengths and utilize their differences for their own success and for the long-term sustainability of their organizations.?

[1] John Wooden

[2] PriceWaterhouseCoopers Nov. 18

[3] Source: ICF Global Coaching Client Study, Executive Summary, April 2009, in consultation with PricewaterhouseCoopers LLP, and Association Resource Centre Inc.

[4] Names have been changed to maintain confidentiality

[5] e Manchester Review? https://www.researchgate.net/publication/257885642_The_coaching_ripple_effect_The_effects_of_developmental_coaching_on_wellbeing_across_organisational_networks

[6] The efficacy of executive coaching in times of organizational change, Anthony Grant (2014)