Before you are a leader, success is all about growing yourself. When you become a leader, success is all about growing others - Jack Welch.
Executive coaching has grown in leaps and bounds in the past two decades. It's now worth an estimated $14 billion in the United States alone. Executive coaching is used as a management tool by organizations looking to leverage their executives' existing strengths and improve their leadership capabilities in addressing business challenges.
A coaching session can occur through personal meetings or virtual coaching engagements. The latter grew in prominence during the Covid-19 epidemic, and proponents argue this could be the model moving forward.
Executive leadership coaching sessions are not cheap but are well worth the investment. According to one study, the return on investment(ROI) is 788%. It is no wonder that top executives in Fortune 500 Companies work with executive coaches to realize specific outcomes.
An executive coach is a specialized individual usually trained to optimize organizational leadership performance. They are accomplished individuals in their own right, with a proven record of performance in specific industries or past coaching experiences.
An executive coach usually forms a coaching relationship with a client for six to eighteen months to realize significant, specific, and measurable behavioral changes to leverage strengths, rather than correct deficiencies.
The characteristics of a great executive coach include the following:
A leadership coach may be sought within or outside an organization. A coach with an outside perspective is preferable because:
Executive coaching is a leadership development plan aimed at senior leaders, such as company executives, to help them become better leaders.
In the book Executive Coaching for Results: The Definitive Guide to Developing Organizational Leaders, Brian O. Underhill et al. argue that:
Executive coaching is one leader, one coach. The purpose is the development of the leader’s skills, and executive coaching is intended for organizational leaders (whether or not they are in actual leadership positions). It doesn’t matter if the company is large or small; for profit or nonprofit; private, governmental, or publicly held —the purpose remains the same.
The executive coaching process is a collaborative process with commitment from both parties to assess circumstances, strengths, weaknesses, and developmental opportunities.
Executive coaching goals vary depending on individual or organization objectives for sourcing a coaching relationship. John Mattone, in his book The Executive Coach's Handbook: Inside Secrets from the World's Top Executive Coach, says:
The people at the C-level set the strategy, make important decisions, and ensure operations align with strategic goals and values. Leaders at the C-level have different leadership expectations than other company leaders. Therefore their coaching needs are not the same as those of other company leaders.
According to literature from different sources, the predominate goals of executive coaching are:
The goals of executive coaching can be viewed from the perspective of individuals or organizations.
Individuals hire a leadership coach in the following situations:
Organizations in the following situations most often use executive coaching:
At Highrise, we understand how executive coaching engagement can help individuals and organizations achieve goals. We also understand that leadership is more than just becoming a manager. It requires a multi-dimensional approach for proper leadership presence.
With our Leadership Impact Program, we are expanding the definition of leadership to meet the realities of the modern workplace for better business results.
We help you understand the following: what holds you back, your authentic self, how to maximize your strengths, how to improve communication, and how to successfully navigate conflict.
Working with one of our skilled executive coaches, you will better how to: negotiate, manage your team, listen & influence, give & receive feedback, manage up, and maintain a healthy work-life balance.
Highrise is built for you. Reach out today if you are a growth-minded professional looking for contemporary leadership development.