Coaching is a fantastic way to draw the potential out of leaders. It helps improve confidence, productivity, and is a sustainable form of development, as what is learned is taken and applied independently afterwards. And this is a proven fact – on average, an individual increases their productivity by 86% when training is combined with coaching, compared to only 22% with training alone. But in order for coaching to be effective, the context of who is being coached, and when, must align with what coaching has to offer in order to actually reap a significant return on investment (ROI). Coaching works well alongside training when it supports the embedding of new skill sets which have been the subject of the skill building. More often, however, coaching at this level is focused on shifting a mindset. In that situation employers must first be able to identify if the leader’s needs are, indeed, coachable.
Coaching requires you to explore, support and challenge a leader’s thinking in order to help realign their perspective. However, an executive can only be coached to think and operate differently if they are open to doing so. Coaching isn’t designed to change people fundamentally, it acts as a way of unlocking unrealized potential – this new approach was always an option, it just needed to be teased out in a methodical way.
How can you tell if this is the case?
The individual should have exhibited a desire to be coached in some way, and previously displayed behavior of wanting to learn, as well as change in response to feedback. Coaching can be an intimate experience and can sometimes feel judgmental, when in reality it is designed to push the coachee so that they gain a sustainable form of development. If a leader has previously shown the want to improve and strengthen their abilities, then this person will be a perfect fit for executive coaching and will likely benefit greatly from it.
Also, timing matters! Coaching is extremely effective when a leader is at a learning inflection point. This can take shape in many different ways, but will typically be a moment of realization, a challenge they are facing, or noticeable dissonance. These all act as coaching catalysts, as they spark the focus needed for coaching to be successful. Once this inflection point has been identified, the coach can then help the leader map out the goals of their sessions and pave a clear path to meet them.
Executive coaching is rising in popularity – in 2022, it was estimated that the global executive coaching market was valued at $9.3 billion – which is almost a $1 billion increase from the previous year. This is because the satisfaction rate for coaching is near to 100%, but to ensure that it remains that way, employers must be able to identify the correct context for successful and meaningful coaching to take place. This ensures that money is not being wasted, but instead converted into a high ROI.
If you would like to seek out coaching at a leadership level or are interested in being coached yourself, please get in touch with me at email@example.com