Executive Coaching: Can Executive Coaching Impact Your Business?

The business world has been turned upside down by the new global economy and many major organizations are turning to executive coaching. What is being asked of C-level executives is completely different now then it was ten or even five years ago. So what exactly is executive coaching and is having one a tell tale sign that things are going wrong within a company?

First and foremost we need to get a better understanding of what executive coaching really is. As defined by the International Coaching Federation...

'Executive Coaching is an experiential and individualized leader development process that builds a leader’s capability to achieve short and long-term organizational goals. It is conducted through one-on-one and/or group interactions, driven by data from multiple perspectives, and based on mutual trust and respect. The Organization, an Executive, and the Executive Coach work in partnership to achieve maximum impact for the individual both at an organizational and a personal level.'

So no, working with an executive coach does not mean that something is wrong with your CEO or upper management. Many companies have people who are highly skilled at what they do but may not be great when it comes to communication, delegation, goal setting, etc...This is where having an executive coach can really come in handy.

What Executive Coaching Is and Is Not

Executive coaching is not a business consultant nor is it therapy. The person you bring in is specifically there to help you accomplish specific goals and tasks that you have set out to do. While they may hold a sympathetic ear to hear the challenges you face, they are not there to dive deep into your subconscious and resolve any deep emotional issues you may be facing at home or in your personal life. As well, they are not a consultant that is there to tell you what to do with specific projects. While it is a good idea to have an executive coach who might be well versed in your industry, it is more important that you have one that has the strength and clarity you seek in accomplishing the goals you have.

The Benefits of Executive Coaching

Coaching has proven to have a positive impact on your bottom line. Via Manchester Inc, a recent report includes data on executive behavioural change, organizational improvements achieved, and the return on investment (ROI) from customized, comprehensive Executive Coaching Programs. The Coaching Programs delivered an average return on investment of 5.7 times the initial investment in a typical Executive Coaching Assignment.

Just as with other many training courses such as leader development programs, individual and executive coaching is a collaborative relationship that uses a learning framework to help executives and business professionals identify and remove those interferences that limits the expression of their full potential.