The hunger for continuous learning, developing, improving, and refining knowledge and skills is what separates great leaders from good ones. If you are running an organization and you want executives, managers, and leaders to always have that hunger, then your company could benefit from executive coaching services.
The rise of executive coaching services
Successful companies, regardless of the industry, have a few things in common – they invest in their employee development. Multinational technology corporation IBM for example is a pioneer in Artificial Intelligence (AI). In 2020, they started working on identifying jobs that will become obsolete in the near future and as a result are investing in upskilling their employees to ensure no one gets left behind. The same goes with Amazon, Mastercard, Pricewaterhouse Coopers (PwC). These companies are future-proofing their biggest asset – their people.
The same idea applies to CEOs and leaders. More and more companies are investing in the learning and development of their senior executives to keep them in top shape to run the company better and help them positively influence high-potential employees. That is what executive coaching services are about – coaches influencing leaders; guiding them on how to better lead their organization and leave a great legacy.
But what can you really expect from executive coaching services? What can your executives and your company as a whole gain from it?
Here are some great reasons why executive coaching services are worth the investment for your company.
What is executive coaching?
Executive coaching is coaching for executives, leaders, and managers. Often, people in higher positions have difficulty finding someone that will keep them accountable and motivated on a daily basis. They become too comfortable in their positions and start to become bosses, rather than becoming leaders. This is where the benefits of executive coaching come into the picture.
Executive coaching is more than just having a support system or sharing business ideas with a neutral party. Executives will be asked to look at themselves on a deeper level to uncover their strengths, recognize their weaknesses and shortcomings, and find possible areas for growth. All in relation to the business ventures of the company and the leadership required from an executive. The goal of the executive coach is to see not just the individual thrive, but his organization as well.
Executives and people at managerial and leadership positions need a coach the same way professional athletes need different types of coaches, not only to expand their game, but more importantly for encouragement and guidance.
Some of the best superstar NBA players like Stephen Curry of the Golden State Warriors have a strength and conditioning coach, skills and shooting coach, and mental coach, apart from the team’s head coach. This is what separates him from the pack. And probably the reason why he broke the record for the most three-pointers in league history in 2022. Now, he is considered the greatest shooter the league has ever seen.
In the same way, executive coaches can help leaders maintain their current success and work towards achieving long-term and higher goals.
What happens in executive coaching sessions?
As with most types of coaching, executive coaching is tailored to its client. Programs are focused on establishing practices that involve close and confidential trust between the coachee and the coach. The one-on-one sessions provide a safe environment for the learning and development of the coachee.
An executive coach will help his coachee know himself better and understand how and why they are perceived in a specific way by others, especially by people in the company. Subsequently, the coach will help map out his coachee’s plans and goals, and provide guidance and encouragement on reaching those goals.
What to expect from your executive coach?
The job of the executive coach is to provide clients a safe space for whatever the latter wants to talk about. The coaching can be tailored based on the exact needs and the coachee’s responsibilities in his organization. Some of the things you can expect from your coach in coaching sessions include:
- Questions regarding self-awareness
- Help to find the answers to your questions
- Challenging your assumptions
- Advice and resources for improvement
- Help interpreting your and other people’s behavior towards you
- Establishment of learning and development goals
Benefits of executive coaching services
As the executive spends more time with his coach, he will cultivate his leadership skills further and discover new ways to lead his team. A good coach will put heavy emphasis on the development of leadership skills, especially on managing daily responsibilities in the workplace. They are committed to their coachee’s success, which entails the company’s success too.
Throughout the process, clients develop:
- Better empathy – Improved emotional intelligence, and consciously making an effort to connect to others beyond surface-level. A good leader hears his team’s concerns, accepts criticisms and feedback, inspires, and advocates for those without a voice.
- Improved communication skills – Clients will have improved communication skills, especially listening skills. This means being more present and being active participants in conferences, meetings, and one-on-one conversations.
- Improved confidence – Keeping a healthy sense of self-confidence is extremely important for leaders. However, many people confuse confidence with arrogance. Executive coaching teaches clients to be both confident and humble at the same time. Having confident leaders boosts the team’s morale.
- Improved self-awareness – This is one of the biggest focuses of executive coaching, and there are lots of reasons why. Self-awareness is the catalyst for growth. When one understands the value of this step, he will no longer blindly repeat negative behaviors. A person will become aware of the changes around them and the things and people around them that affect them.
- Improved social skills – Social skills are the glue that holds successful relationships together, making it an extremely important skillset in and outside the workplace.
How do these benefits to executives create a ripple effect in the company?
The benefits mentioned above are long-term. When executives team up with a coach, they aren’t the only ones who reap these benefits. These leaders will adapt the leadership and management style according to the needs and interests of their team. There will be improved communication in the workplace and, more importantly, the company will see a significant boost in employee retention. Employees will not only feel fulfilled and satisfied in their roles in the company, but they will also love working with and learning from a good leader.
