Perspectives
Executive Coaching:
Who’s on First, What’s on Second and Why is it so Important
(Part 1 of 3)
by George M. Hendley
|
“Having a coach offers benefits
beyond simply honing leadership skills: It gives you another set of eyes and
ears and so can be an antidote to the peril of the information quarantine
that too many leaders suffer.” Daniel Goleman et al; Primal Leadership: Realizing the
Power of Emotional Intelligence |
Perhaps you’re familiar
with one of the classic comedy routines of all time done by Abbott and Costello
called, “Who’s on First”. It’s baseball season and it’s always fun to
capture your attention in a humorous way so let’s take that great line, tweak
it and have fun for the next three installments focused on Executive coaching.
Batter up!
There are three parts in the title (who, what, why) and that easily lends
itself to the focus of these three articles. But, we’ll throw a curve ball at
you and ‘begin with the end in mind’. Huh? That means this article will focus
on the WHY! Why is executive
coaching so important? Why is it one of the critical keys for not just
leadership success but also company success. Simply
stated, if you have a big enough why, the how takes care of itself. So let’s
build the why really big in the next three minutes and 626 words together.
5 ˝ of the Top Ten Reasons Executive Coaching is so
Important
Shall we begin with the
obvious and state it clearly so there is no doubt? It works! (I could say ‘next
point’, but I’ll drive that one home for a moment.) It works especially
well if the executive is ready, willing and able to receive the help given to
him/her by the coach. It works especially well if the right coach is chosen and
given both the time, tools and support needed to do the right assessment,
development and follow through for the expected intervention. Here’s the proof.
In a recent survey
reported in Chief Learning Officer (CLO) Magazine
82% of those surveyed believed that coaching improved individual performance
and 42% cited improved organizational performance. That’s critical to the big
picture and the long term benefits to the organization.
In a large leadership
coaching initiative with a Fortune 500 firm the ROI
(return on investment) for the executive coaching program was carefully
examined. Three-quarters (77%) of the 30 respondents indicated that coaching
had significant or very significant impact on at least one of nine business
measures. Sixty percent of the respondents were able to identify specific
financial benefits that came as a result of their coaching.
Program costs were
tabulated in determining the return on investment. A 529% return on investment
was produced by the coaching process (excluding the benefits from employee
retention). That’s worth talking about. Even if it (executive coaching) is only
one fifth as successful as that study it wouldn’t be bad to see a 100% return
on an executive coaching investment. You’ll rarely see that in the stock
market!
4 ˝ more WHY’s Executive
Coaching is so Important
There is the outsider’s
perspective on ‘cultural or political’ issues that brings a unique and unbiased
viewpoint as well as wisdom and balance into a difficult situation. Internal
politics can strain or totally immobilize even the best executive when not
handled in a values conscious long term perspective.
High levels of stress
cripple or render totally ineffective the careers of many top executives. Today
the demands of work coupled with life changing issues at home put executives in
a constant pressure cooker. Often times the executive coach is able not only to
recognize and assess the symptoms of distress but also successfully redirect
the time focus, activities and life balance of that individual before it’s too
late. Sometimes it can be a life or career saving redirection.
Coaching is used both proactively
and in response to existing problems. At almost half (46%) of responding
companies coaching is used to change behaviors. It is the addition of timely
new knowledge, specific new skills or valuable new attitudes that predicates
‘the why’ a coach is important to keep an executive from derailing at a
critical juncture in her/his career. Often times it is the ‘soft skills’ or
people skills that are lacking polish and needing crucial and insightful
infusions from a knowledgeable and experienced executive coach.
Oh yes, the ˝ that you’re
wondering about is contained in the quote taken from “Primal Leadership.” It’s a simple but powerful realization that
none of us is as smart as ‘both of us’ and four eyes and four ears can see and
hear much more than just two.
As Norm Kamikow the editor of CLO
Magazine writes, “Education is about
continually finding new solutions, new avenues, new
hopes. Coaching is about guiding performance, sharpening skills, meeting
current and future needs. The connection is obvious.” Yes, for those with
eyes to see and ears to hear the connection is growing more and more obvious.
We’ll continue our ball
park analogy with “who’s on first” looking at both of the ‘who’s’ under
consideration in our part two coming next month. Batter up!
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