Why Coaching is Critical for Successful Leadership

What You Need to Know: Coaching isn’t for everyone. But it may be the right solution for you.

Recently, a former client asked me to coach one of her key leaders. This individual was a good manager. His people respected him, but those in the executive suite did not think well of him. Her manager knew this employee had potential but needed some coaching.

This request was quite different than the calls I used to get ten years ago. Back then, most companies engaged a coach to help fix toxic behavior at the top or before firing someone. Today, most coaching is about developing the capabilities of high-potential performers.?

Why Companies Hire Coaches:

According to the Harvard Business Review, the top three reasons for engaging a coach are:

1.???Develop high potentials or facilitate transition -?48%

2.???Act as a sounding board -?26%

3.???Address derailing behavior -?12%

ROI of Coaching

Naturally, when investing in coaching, clients want to know the return on their investment (ROI). It isn’t easy to pinpoint the exact ROI of coaching. However, here’s what studies have shown.

• Companies that offer training alone experience?22.4%?increase in productivity, but when combined with coaching, that figure rises to?88%.?
• According to Forbes magazine, a conservative estimate of the monetary payoff from coaching, as described by managers, is an average return of more than?six?times the cost of coaching.
• There is peace of mind knowing that you’ll most likely be able to retain this employee, as?94 percent of employees say ?that they would stay at a company longer if it simply invested in helping them learn.

What a Coach Can Do for You

Here’s what a coach can do for you.

Coaches can:

·?????Improve the skills and performance of leaders

·?????Help leaders gain new perspectives

·?????Help individuals and organizations achieve their goals

·?????Objectively view a leader’s strengths and weaknesses

·?????Help people identify and overcome obstacles

·?????Hold individuals accountable for their actions

·?????Help leaders develop their communication skills, which are critical for building strong relationships and leading effective teams.

·?????Help leaders navigate the ever-changing landscape of their organization and industry, allowing them to make better strategic decisions and drive results.

What Coaching Can’t Do

There are some things coaching can’t do like:

·?????Correct bad hiring mistakes. If someone is in the wrong position, no amount of coaching will remedy this situation.

·?????Help someone who is not interested in being helped

·?????Remedy organizational structure issues

·?????Fix the relationship of two people who don’t get along, especially if only one of the parties is being coached.

Working with a coach is an incredibly powerful experience that helps create a more productive and engaging work environment. Now’s the perfect time to act if you’ve been thinking about engaging a coach.

Have questions about coaching? Schedule a call with me.