Executive Coaching: What it is and what the benefits are!
If your organisation are considering investing in some executive coaching, but are finding it difficult to know what the likely outcomes will be then the following blog may help. As a Life Coach, I provide coaching in both a private and an executive setting. When provided in an executive setting, the coaching has been laid on by the organisation as an investment in their staff. And what are the returns on investment that they can expect to achieve? In my experience the benefits have been wide reaching and very tangible for the executive I've coached. Typical findings include Increased Confidence, Improved Communication Skills, Better Time Management, Using Strategies to Reduce Mistakes Made, Better Emotional Wellbeing, Improved Health, Increased Productivity, Overcoming Conflicts with Colleagues, Better Work/Life Balance, Increased Confidence for Presentations, Reduced Stress Levels and Increased Job Satisfaction. In addition, my executive clients all got a clearer understand of themselves, and this great sense of self-awareness has improved their relationships both in and outside of work, as well as their job satisfaction. These are just my findings from the feedback I've had. On future research, the Association of Coaching also found the same benefits as well as stating that coaching also plays a part in developing the talent pools within organisations, and how it helps increase morale and ensure talent retention. Whilst it is difficult to quantify, these findings go some way to show how coaching can be valued. In research undertaken by McGovern et al, it was estimated that the value of coaching can be placed at 5.7 times the cost of the coaching, in terms of increased productivity. This is before any thought has been given to the reduction in sick days, and the cost of replacing executives, should they have decided to leave through lack of job satisfaction.
One HR practitioner surveyed mentioned that:
'There are intangible benefits. It's recognition of the individual, time out to review their careers. It's special. It improves motivation and feeling valued and recognised. People do like to talk about themselves. It can be pretty lonely in executive roles. It is the opportunity to open up, possibly for stress relief. There is a bravado required of executives. They don't have the opportunity to show any chinks. Executive coaching deals with the wants in all of us, without outside scrutiny'.
The opportunities to provide the same benefits to individuals within an organisation are very limited without the involvement of an impartial, objective coach. There is also a feeling that executive coaching can generate long term behavioural change, by providing a "snowballing" effect, which gains momentum as the session progress.
So now that you know what the benefits of Executive Coaching are, but you might still be wondering what it is. Kombarakaran et al (2008) describe the role of coaching as "assisting executives to organise their thinking, become more objective, and develop greater capacity to manage change. Executives recognise behaviours that hinder effectiveness in managing, and explore and develop new problem-solving options. Coaches provide insights into interpersonal problems and assist executives to learn new skills through modeling."
In a nutshell, I would say that it is my role to offer an objective viewpoint, and provide an environment in which the executive can review their performance (both in and outside of work), help them to consider any issues and barriers from a 3rd person perspective, and identify ways in which they can improve their behaviour and performance for the positive. I consider myself to be a warm, approachable and compassionate coach. I value my work highly, and as such always operate with strict confidentiality and high integrity. If you are interested in Coaching for the Executives in your organisation, then please get in touch.
