Executive Coaching: A Leadership Development Tool for Top Performers By Gayle Lantz

"Coaching" used to be a popular approach for derailing executives or professionals whose performance needed a lot of work. Got a problem? Get a coach. However, increasingly, coaching is being sought by some of the most successful executives in their field - those who want to get even better at their business game. So the new thinking is…

Got a goal? Get a coach.

Executive coaching has evolved quickly over the years. Some consider it a field in itself; others consider it a form of consulting. There are many interpretations for "executive coaching". No matter how you define it, coaching can be a useful tool for executives who want to develop as leaders. Rather than debate the definition of coaching, it's more important to consider the type of coach and approach that's most appropriate for you given the results you want to achieve. Some executives have difficulty art iculating concrete desired results, but a skilled coach can help. Often executives simply haven't taken the time to slow down and think things through.

Coaches come in the form of business professionals, psychologists, trainers, consultants, authors, etc. They come from all walks of life. Some are tough, challenging and direct. Some are sensitive, encouraging and indirect in their style. Some impose a particular process. Some are more flexible. A consultant with expertise in communication may focus on executive coaching that emphasizes presentation skills. A fashion consultant may offer executive coaching with an emphasis on professional appearance. Other executive coaches focus on leadership skills or business strategy. The approaches are as varied as the professionals who deliver coaching services.

Selecting a Coach
Ultimately the most important factor in selecting a coach is the coach's track record and his/her ability to establish the kind of relationship with you that helps you achieve results. Senior leaders who have few peers seek out coaches to discuss business and professional goals. It's a decision that should not be made lightly.
Coaching relationships can be structured a variety of ways. Consider whether you want to work with a coach in person, by phone or both. Know what's most important to you in selecting a good coach. Finding the right fit is everything. You'll know you have the wrong fit if you feel you're wasting your time, dread your coaching conversations, or focus on issues that aren't directly relevant to your goals. Listen to your instincts and find the best fit.

Coaching Issues
With the complexity of issues that challenge executives, there is never a loss for discussion topics between a coach and client. Below are a few of the issues that many of today's top-performing leaders discuss with their executive coaches:

• Staying focused on top priorities
• Increasing accountability for follow-through
• Building skills in particular areas 
• Dealing with organizational politics
• Thinking strategically
• Handling stress & avoiding burnout
• Managing teams & dealing with sensitive personnel situations
• Influencing others
• Negotiating
• Brainstorming new ideas/creative thinking
• Personal career planning
• Life-work balance issues
• Establishing clear goals and action plans

Success Factors
In addition to finding the right coach, here are a few success factors to keep in mind for those who engage in a coaching process.

• Establish clear guidelines for the relationship and coaching process on the front end. Don't make assumptions.
• Share feedback. If something is not working, discuss it.
• Acknowledge progress and successes along the way. This helps build momentum.
• Involve other stakeholders if necessary. In some cases, others in the organization can participate in the process to share input and feedback.

Executive coaching is not for everyone. It's only for those executives who are highly motivated, who are committed to leadership development and who want to engage in the process. Expect a minimum commitment of six months to a year.

Company Sponsored Coaching Programs
Many more companies now recognize the importance of promoting coaching within their organizations. Many have formal coaching programs that include internal and external coaches. Organizations that sponsor coaching programs need to be diligent about connecting the benefits of coaching with business results in their organizations. Without a results focus, organizations run the risk of promoting coaching for its own sake - a "campaign for coaches," instead of solutions for executives. Coaching is simply a means.

Corporate initiatives that mandate or roll out a coaching program too broadly jeopardize the effectiveness of the program. Often those who need coaching most are least likely to be open to the process, but top performers are always looking for a leading edge.

Finding the right coach can be the leading edge you need to succeed professionally.

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Call now for a complementary Coaching Conference to discuss how we can provide the best practice for Leadership Development at 609-390-2830.

The Value of Coaching

I just celebrated my tenth year of Coaching. When I was asked by an executive over ten years ago the following question, “Are you a Coach?” My first response was “in what sport”? I coached almost every sport known to man since I had three very active children so I immediately told him that baseball was my favorite and softball was a close second. He then said that Coaching was now one of the growing professions in business and I should look into it.

I researched the profession and found that there was formal training for Coaching. I ended up choosing an online program called Coach U because the focus of the program was on business application, rather than a life coach, which complimented my business consulting firm. I spent the next 18 months learning the competencies, skill-sets, and practices that would make me a great executive coach and officially became a Certified Business Coach. Later on in my career, I took certification programs in Performance and Small Business Owner Coaching since I was dealing with small business owners and top producers in industries that required immediate results.

I find that Coaching is much more well known today than it was ten years ago, but the term continues to be applied more frequently as a verb and not a noun. Coaching is not the same as mentoring, counseling, or managing. Business Coaching appears to have replaced the term business consulting but I still find the two totally separate. Business Consultation focuses on the effectiveness of the organization and Business Coaching focuses on the individual, whether it be an executive, manager or future leader.

Read: How to Make Choices as a Team

Coaching - The Most Overlooked Employee Benefit

Companies are saying that executive coaching has become their secret weapon when it comes to acquiring talent. BMW of Canada recently introduced a program that included the hiring of coaches to incorporate training into a leadership – development program.

Coaching can certainly compliment leadership training in any organization and it can be a needed incentive to elevate performance and provide a competitive edge by providing another perk or reason to join. In my experience, I have found Coaching to be a key component to retaining a good to great manager or leader. Coaches can be the link between personal direction and work/life balance while expanding the communication link between the business strategy and the employee by promoting good leadership skills.

Replacing an Executive can Cost You

Coaching is the one component of employee retention that is most overlooked and underused. The cost of replacing a high level executive now approaches almost 50% of their salary, not including any additional compensation packages. In other words, to replace a $200K salaried executive it will cost you $100K. Coaching for Performance costs for that same executive costs a company approximately $9-$12k per year. As reported in the article, “Can Coaching Help Your Business” (TheStreet.com (02/24/09), investing in executive leadership development can bring about a positive impact on an organization when it is particularly needed. Your under performing executives or other personnel in key roles can benefit from working with a one on one coach.

Innovative Leadership’s coaching program provides certified coaches who have extensive management experience and can relate to the pressures being placed on your leadership in these tough economic times. Our coaches use a unique process to get results while coupling the achievement with enhancing leadership skill-sets by incorporating Leadership Training into the one-on-one equation. We work with your leaders to develop their leadership competencies and skill-sets to compliment their decision-making abilities, and interpersonal responsiveness to their board and management team, while getting them to focus on the metrics that make a difference. Achievement is the result of effective planning and the proper implementation of a plan while monitoring the progress so that course corrections can be made along the way. Our Coaches directly work with you to design the plan, implement the strategy, formulate the metrics for success, and work with you to monitor the results.

You’re losing valuable money when an executive is replaced; stop this vicious circle with Coaching and Training. It really is priceless.

Coaching For Results

In a most recent survey, thousands of employees were asked “what they planned to do differently in 2009?” and here are the results:

• Most will be focusing on themselves and trying to “get fitter” (53%)
• Most will be scheduling more time with family and friends (24%)
• Many will be looking for new employment opportunities (13%)
• Some will try to work harder (6%)
• And the minority will do nothing differently in 2008 (4%)

I can visualize that every executive, manager, supervisor or employee will be getting up earlier and rushing to the gym to knock of the weight and trying to tone up for the “bikini” season, then rushing off to work to give everyone the appearance that they are working harder than they did last year even though some of that energy will be spent looking for new employment opportunities, and then scurrying home to have dinner with the family and bathe the children, then hop in bed by 9 to get ready for the next day. WOW!

It really sounds and feels stressful to me. How can someone do all that and not get stressed out.

Hiring a Coach will help you formulate a “game plan” together that will enable you to reach your goals in a shorter period of time without as much stress.

Innovative Leadership Coaches for Results!