” The goal of coaching is the goal of good management: to make the most of an organization’s valuable resources.”
– James Waldroop and Timothy Butler in The Executive as Coach, Harvard Business Review
According to researchers, executive coaching goes beyond mentorship, professional development, and counselling. It’s a goal-based and time-bound approach is designed to maximise the potential of the executives. It aims at assisting leaders and executives to become more efficient in their daily processes by overcoming their flaws and capitalising on strengths.
In these VUCA times, the task of leading a team and business to optimal performance is a huge challenge for business leaders. This is the reason why most corporate honchos are eyeing effective leadership coaching and the best CEO training programs for competitive advantage.
Executive Coaching – A Time-Proven Mantra to Successful Business Performance
Executive coaching drives multiple benefits to an organisation. Built on the idea of improving behaviours and human strategies, this training has the power to impact the business bottom line. By gaining experience from a coaching expert, executives become confident and self-reliant, which enables them to become good decision makers and take greater responsibility & accountability for actions and commitments.
A Fortune-500 corporation sought to investigate the return on investment of executive coaching. In the survey, 77% of respondents admitted that mentoring significantly influenced at least one of nine business metrics. It also revealed that overall productivity and employee happiness were the most positively influenced areas (impacting customer satisfaction, employee engagement, etc.). The research also concluded that executive coaching yielded a high return on investment (ROI) (Executive Briefing: Case Study on the ROI of Executive Coaching, Merrill C. Anderson, Ph.D., MetrixGlobal, LLC).
How Executive Coaching Helps Organisations Optimise Performance
Executive coaching is led by consultant experts who employ multiple behavioural techniques and methods to motivate the executives to become better versions of themselves and effectively lead people in their fields. Like all methods, there exist pros and cons. Still, most studies support that coaching backed by an impactful strategic leadership development program is critical for organisations and individuals to enhance work environment, improve communication, and build responsibility.
Here’s how executive coaching can enhance your organisational potential:
- Facilitates Accelerated Growth
Executive coaching helps prepare and appoint high-potential candidates to important positions. Through right guidance and training, the candidates can discover their strengths, master leadership qualities, and learn industry best practices. This ensures the executives get adapted to their new role quickly and perform more efficiently.
- Eases Introduction of New Organizational Changes
Executive coaching teaches candidates to have a flexible mind set. Dynamic leaders who are open to new ideas and are willing to adjust their management style to changing situations facilitate smooth transitions and ensure no new initiatives are halted or stifled. They also motivate others in the team to follow the suit.
- Improves Overall Work Culture
Executive coaching helps leaders identify strategies that could reinforce positive behaviours amongst the team members. They develop a broader outlook, which enables them to identify and eliminate habits that overtime become company norms although their contribution to the overall success of the organization is nil. All in all, they play an important role in establishing productive work culture that translates to better business performance
- Promotes Coherent Team Performance
Candidates who attend executive coaching are usually people with power and authority in the organisation. This infers that whatever they learn can be carried forward to the whole team. With this, it’s possible to achieve better coherent team performance, which becomes the key driving force behind a company’s success
With businesses becoming more volatile and complex, executive coaching has become the need of the hour for smooth sailing. It serves as an effective tool to improve the talent and skills of executives, and all employees, for that matter. Designed and executed by industry experts, these inspirational leadership training programs pave the way for improved individual performance, more motivated teams, and better prospects for business success.
If you’re an executive or leader in an organisation, opt for smart executive coaching by Pragati Leadership. Our innovative and practical approach will help you, not only to ace your performance but also boost your business productivity. For more details, contact us today!