What are the Benefits of Executive Coaching and Leadership Mentoring?
What are the Benefits of Executive Coaching and Leadership Mentoring?
As the pandemic devastated individuals, organizations and countries last year, many companies paused their Executive Coaching and Leadership Mentoring in order for their leaders and managers to firefight and cope with the major Changes. Instead, Resilience Coaching and Outplacement Support were often required to enable staff to cope with the associated stress caused by the impact of Covid-19 and the vast number of redundancies.
As some countries are emerging out of lockdown, organizations are looking tentatively ahead in order to build strong foundations for the future hybrid models of working. Many challenges still face executives, from the need to be more strategic, improve communication and negotiation, inadequate delegation and empowerment, inefficient planning and organizing, high/low assertiveness levels, tough decision making, implementing and leading change, stress management, developing resilience, poor working relationships.
When I'm asked what the benefits and ROI of 1:1 Executive Coaching and Mentoring are, here are some of my responses as to why it is so effective in transforming individuals, teams and organizations:
- Elite athletes and sports teams have Coaches in order to be able to perform to their maximum capability and excel in their chosen field, which is why Eric Schmidt, former Executive Chairman of Google, believes that, like sports people, all senior managers should have a Coach, in order to motivate and guide them to achieve their full potential and create major success.
- An Executive Coach and Mentor, who is qualified to administer and deliver feedback on Talent Assessments, such as 360 Feedback Reviews and Personality Questionnaires, can assist leaders in pinpointing how they are perceived by their key stakeholders and help in identifying their key strengths and blind spots in order to provide SMART Coaching objectives to address priority areas for improvement.
- Executive Coaching and Leadership Mentoring can then be tailored to the individual. In a frenetic workplace and increasingly VUCA world, both business and individual results are required quickly. Executive Talent Assessments followed by Coaching can enable leaders and managers to identify what behaviours they need to modify and how they can implement changes in order for themselves, their teams and the business as a whole to become more effective.
- Working 1:1 with a professional, the Coaching client is often able to identify any limiting beliefs, negative thought patterns and defence mechanisms very swiftly. Executive Coaching involves real transformative work to change behaviours and attitudes in a highly focused manner, with experiential learning and interim assignments to practice tools and techniques with a regular review of progress at every session.
- One to One Coaching increases self-awareness, as the individual client becomes aware of ingrained habits and behaviours and receives instant, objective and constructive feedback on their actions away from the goldfish bowl of the office; this enables leaders to increase levels of emotional intelligence, abandon age-old excuses and overcome blind spots.
- Executive Coaching and Mentoring provides a confidential, safe environment with a trusted adviser, where the Coaching client is not judged or benchmarked against their peers. They can take time out from their busy work environment to receive the right balance of check and challenge on their leadership style, key issues and actions.
- Working with a qualified and experienced Executive Coach, a leader also derives the benefit of the Coaches’ own work experience and wisdom. Often our American clients in particular refer to me as a ‘veteran Executive Business Coach’, or ‘Super Coach’ as I have the necessary skills and experience to work at executive level, having recruited, led and managed a wide variety of teams, developed and implemented strategies, and held commercial roles in large organizations; I have also been providing support to leaders for 18 years, therefore, I am able to provide empathy and understanding of the key issues faced.
- Coaching clients are able to work on developing their soft skills, such as active listening, open questioning and conflict management. Executives who receive Coaching can realize the benefits of developing their interpersonal skills in order to build better working relationships with the Board, key Stakeholders, the SMT and their customers.
- An Executive Coach can provide support and perspective when an executive can’t ‘see the wood for the trees.’ Working with their Coach, leaders can improve their problem solving and analytical skills, in order to be able to pick the best solution, better manage Change and Stress, and build their Resilience.
- Executive Coaching ensures that the organizations’ Leadership and Management Competencies, values and associated behaviours are developed and demonstrated consistently by leaders and that individual and team objectives are aligned with the overall strategy to achieve business success. An Executive Coach usually has a helicopter view of the organization and is able to connect the dots and assist their clients in improving their strategic perspective and organizational awareness.
- Working 1:1 with a Coach ‘there is nowhere to hide’ as leaders have interim ‘homework’, need to prepare for the next Coaching session and then demonstrate improvement and commitment. This intense level of accountability ensures high levels of focus and engagement, which means executives can develop very quickly. Attending regular Coaching sessions is proven to increase levels of self-discipline and motivation.
- Executive Coaching also creates a high-performance culture, increases retention and engagement and assists in Talent Management and Succession Planning to ensure that companies have the leadership talent and bench strength to achieve their strategic objectives.
- Executive Coaching and Mentoring should enable a leader to become self-sufficient and in turn he/she can transfer the learning in order to further empower and improve the performance of their teams.
- Frequently companies who invest in Executive Coaching and Leadership Mentoring have a competitive edge within their industry and can benefit from high levels of Return on Investment as much as 50% of the Programmes. However, in our experience, ROI can be as high as 7,000% as a result of a Face to Face 360 Feedback Review and Executive Coaching Programme, in particular where senior managers in Sales roles have received constructive feedback and highly practical Coaching, or where the cost of retaining senior executives through providing Coaching has been significant.
'I have to confess I was a bit sceptical when I was offered Executive Coaching as part of the company's Succession Planning. Oh how you changed my mind - on some many things! Clearly you've done this so many times before as your experience shines through. I would never have reached the C-suite without your honest check and challenge, but also your unwavering support and motivation. Thank you from the bottom of my heart.' CEO
Stay positive, stay safe!
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