The pursuit of enhancing knowledge and personal development sets apart a great leader from a good one.
Learning, developing, and honing our skills isn’t for the novices and newcomers in the workforce and those setting out on a new career path. It benefits everyone, even those who have reached their organization’s upper echelons. Executive coaching and leadership assessments should be part and parcel of creating a powerful leadership team in any organization.
Leaders should aspire to appreciate and have the humility to recognize that there is always something new they can learn, no matter the stage of their career.
However, in a world where just about anyone can claim to be a “coach,” how can an organisation choose the best coaches for executive coaching who will add value to their leaders and positively impact the organisation?
Benefits of Executive Coaching
First and foremost, it’s essential to understand that the benefits of executive coach training are highly pegged on the consultants/coaches’ skills and the impact they impart on the executives. As such, choosing an executive coach or practice that operates transparently and has a proven track record of producing results is essential. An experienced practice ensures you’re perfectly positioned to gain the most from the executive coaching your organisation gets.
Let’s assume you choose a credible and experienced consultancy. What are the benefits that your organization will accrue from executive coaching?
1. Gain knowledge on how to navigate changes in your organisation’s senior positions
Organisation go through transitions at some point. Whether it is a leadership transition or simply venturing into a new market, it’s common for organisations to experience changes. As such, they can use executive coaching to bolster the executive team’s ability to steer the company through the changes. The invaluable insights and recommendations will help the company overcome any issue it might face.
2. Identify strengths and weaknesses within the organisation at an individual and collective level
Executive coaching comes in handy in helping the organisation identify its weaknesses and strengths. Importantly, the executive gains the knowledge to use the insights to create actionable plans for the organisation to thrive. Additionally, the knowledge gained helps the executive team work to the best of its capabilities and use the organisation’s resources well within its context.
3. Improve productivity
Effective productivity should permeate every part of an organisation, not just the junior levels. With this in mind, companies can use executive coaching to ensure they use their time well and deliver the biggest impact.
While the executive might be working hard, it does not necessarily mean they’re producing the biggest impact possible. This is an element of leadership that should be explored. Otherwise, the company might be going through an expensive mistake.
4. Implement effective feedback loops
Executive coaching helps create an excellent feedback loop. The executive can gain feedback and opinion to help seek the continual improvements they need to enhance their leadership skills. Additionally, the executive will feel listened to and valued, given the open communication and transparency that characterises executive training.
5. Macro and micro goal and target setting
Coaching the executive team can help align them to the organisation’s overall targets and goals. It is especially beneficial for technical executives whose day-to-day tasks are detailed-oriented and focused on their department.
Getting the entire team together and helping them take a step back and look at the broader targets and goals can ensure every executive team member or their wider department create personal goals that align with the overall company goals.
6. Personal development and empowerment
Executive coaching can empower and enhance the power growth of the executive through tailored guidance and support. Consequently, the executive team can develop core leadership skills such as empathy, confidence, communication, and self-awareness. The coaching also promotes personal satisfaction and well-being, which goes a long way toward retaining top talent in the company.
7. Greater insights enhance decision making
Through coaching, an organisation can gain immense qualitative insights, which, combined with robust analysis, can help make better decisions. Whether the executives gain clear signals or get very subtle hints, coaching may help businesses maximise the positive impact of every business decision the leaders make.
The aforementioned benefits only scratch the surface of what executive training can help your organisation. The organisational, team and personal development you accrue to executive coaching will not just help the executive team. It will help everyone and the entire organisation.