ICF defines executive coaching as partnering with clients in a thought-provoking and creative process that inspires them to maximize their personal and professional potential.
Executive coaching and Leadership Coaching is one of the most personalized approaches to people development in professional settings. Executive Coaching is based on the trusted, supportive and confidential relationship between a coach and the leader being coached, to generate tangible business and personal results.
As a niche leadership development tool, executive coaching is mostly sponsored by organizations for senior leaders, like a director, vice president, president, or the C-suite members, and can be a very powerful support at individual and team levels. Individual leaders may also engage with a coach for their own development journey.
Executive coaching provides a safe space for leaders to explore their strengths, self-limiting beliefs/biases, habits & strengths that helped them in the past but no longer serve them well in their new responsibilities etc. With increased awareness, executives & leaders can evolve, change and grow to become the leaders they are meant to be…
Senior leaders, be it from corporate world or not-for-profit world, face common challenges and are expected to demonstrate holistic leadership capabilities across many dimensions.
Some of the common areas where Executives can benefit from coaching are highlighted in the picture.
So, what impact can you expect for yourself and your teams by hiring an Executive Coach?
During a research at a Fortune 500 company, 53% to 77% confirmed one or more of the following results and 96% said they’d engage a coach again!
– Increased productivity reduced cost,
– Higher revenue
– Better employee retention & engagement
– Improved customer satisfaction.
– Increased confidence
– Improved communication
– Stronger Relationships with others
– Improved presence as a leader.
Taking into account the direct business improvements, benefits due to employee retention & engagement, the research indicated a whopping 788% ROI on Coaching of their executive leaders!!
The success and outcomes from Executive and Leadership coaching depend on several factors,
– Willingness of the leader to participate actively and authentically
in the process
– Open to change based on new awareness.
– Courage to be authentic & honest,
– Humility to accept that they may need to change,
– Commitment to act on it
The partnership requires both the coach and leader to be ‘present’ and ‘active’!
Objectivity, being non-judgemental, completely aligned and committed to the leader’s growth is what the Coach must bring into the process. The coach also functions as an accountability partner, creating a bias for action and results!
As a leader, whether you wish to invest in your own development or you’d like to invest in the development of your leadership and executive teams, coaching is one of the proven methods increasingly being used by individuals and organizations.
“Coaching is unlocking a person’s potential to maximize their own performance. It’s helping them to learn rather than teaching them.”
-Tim Gallwey (Coach and Author)
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