Executive Coaching on the Rise

I saw an article last week that I thought would be great to share parts of with you. Pete Wolfinger, an editorial intern for SHRM, wrote it in support of Executive Coaching as a tool for Talent Management.

A recent look at using Executive Coaching as a Development Tool has proven what many of us (coaches) have known and it’s always good to have confirmation.

Investment in executive coaching is on the rise in organizations working to fill talent pipelines. These companies are benefiting from a high return on investment (ROI) for this coaching, according to a study by global outplacement and career management firm Drake Beam Morin Inc. (DBM) and the nonprofit think tank Human Capital Institute (HCI).

Studies have found a direct correlation leveraging Executive Coaching to groom talent, operational excellence and the bottom line. “Executive coaching has become an ideal talent management tool for increasing business performance and making a company’s best people better,” according to Peyton Daniel, senior managing director and coaching practice leader for DBM North America.

Study participants calculated ROIs ranging from 100 percent to 500 percent return, based on factors such as executive output, quality improvements, cost savings and senior leader turnover.

But coaching isn’t just about the money (ROI.)

It is important for employers to recognize the role coaching plays in keeping workers satisfied. This has been found to be most significant with ‘high potential’ mid-level managers.

When an organization selects to infuse Coaching into the company climate, I have seen improvements showing up in succession planning as well as, helping a capable executive perform at an even more optimal level.

Experts such as HCI Executive Director Allan Schweyer agree. “Talent management executives recognize that executive coaching can not only enhance situational learning but also lead to enhanced performance and a competitive advantage in the marketplace.”

So, who's ready for a competitive advantage? In today's marketplace, with the ever changing landscape, coaching has been proven to calm fears, strengthen the bottom line and improve employee satisfaction.

Here are some coaching questions for your consideration based on this article:

Coaching Exercises

1. How would you describe and evaluate the environment in your workplace? 2. What works well to promote and encourage potential in your workplace? Look for the strengths, good behaviors, supportive cultural strategies, etc which may exist.

3. What is not working so well and therefore is an opportunity for improvement? Again, look for behaviors, strategies (or lack of strategy), challenges, choices, etc.

4. What could be done to overall improve the talent pool and over all effectiveness of your teams and leaders? For this question consider strategies that address the previously identified opportunities and also leverages the existing strengths. 5. As a result of these questions and your considered responses to them, what are you committing to?

4 steps to Resolution - Part 2

Last time we left off on point two of this 2 part series and today we reveal the final two elements of taking positive action toward your resolution - even if you are a little fearful.

We now have identified the elephant in the room, named it and begun to build an action plan.

Today we pick up with step three, your communication strategy.

3) Build a communication strategy around the move. This stage of the action step is highly critical. We build a communication element into the resolution so that the leader can gain support or at least feel that they are not alone when making this action step. It is essential to giving the appearance of transparency that is so necessary in any leaders reign – when a leader appears transparent with their action items, even the tough ones, it builds and fosters trust at all levels. The way things are communicated is key to that. Now, we all know there are decisions that are made that cannot be communicated about up front, and I believe that you can still prepare people for those pending decisions in such a way that is supportive. The communication doesn’t start after the ball has dropped, it happens all along the way.


4) So the final step in supporting positive action in the midst of perceived fear is what others have also named. Face it. I would add, face it with integrity and zeal. Leaders become leaders because of the decisions they make. We can sit and choose to be a lame duck leader and I guarantee that action is not sustainable. Or we can be an action oriented, integrity agent. When a good leader works from that place of personal integrity and considers what is the action that is best for the whole body, they will find that zeal for taking action in spite of the perceived fears.


While leaders often feel they are in a box all alone when it comes to tough decisions, I have found that with the C-level clients that I work with as an executive coach, they are looking for a sounding board or neutral partner, they crave it. It is interesting because each of them have been so use to working alone, 'the buck stops here so I must not reach out.' and what they enjoy most about coaching is they have that partnership they have been desiring and not able to name. If I could give leaders one thing, it would be the benefit of knowing personally they are more powerful when they reach out vs. keeping everything close to the vest. That act of reaching out is what moves great leaders to their full potential as a human being.

I had a client who is president of a mid-sized company that has been hit with a crunch on revenue with the shift in the economy this year. The decision he didn’t want to have to make was the one he feared the most, layoffs. When (in the midst of breakdown) we identified the elephant, named it and built a strategy around handling it, while the meeting was tough to have with staff, he prepared them in advance for what was likely to come and ensure them that it would be fair and equitable for the ‘whole.’

After the fact, he found that the planning the meeting to tell everyone what was going on was much harder than the actual action step itself and…had he not had the meeting in advance (communication strategy) the affect on the entire workforce within his company would have been much worse. As would have the trust factor he held with his employees.

I recall him saying (breakthrough), “it was the worst meeting I have ever conduced in all my years here and our employees really stepped up and rallied around for the good of the company as a result. I was blown away. I realized they can handle more than I may have given them credit for, or protected them from.”

Here are some coaching questions for your consideration based on this article:

Coaching Exercises

1. How would you describe and evaluate your support structure for decision making?
   
   
2. What has your communication strategy been for communicating the hard stuff? What changes have you identified that you want to make for the future?
   
   
3. What value do you see that will be added by introducing a neutral partner to your inner circle? How might you use this strategy to strengthen your leadership?
   
   
4. When have you noticed yourself working in isolation vs. asking for support? How did that serve you?
   
   
5. How will you know if you are keeping it too close to the vest? What will you do different the next time?

4 steps to Resolution

Recently I had a fruitful exchange with an International Management Consultant on the topic of what to do when leaders are immobilized by fear. The bottom line question was,
"what is a proven approach by a leader to support positive action (even if fear is present) toward resolution?"

Today I will share the first part of two for the answer and possible solution to the question.

As a coach of leaders, I have found the most interesting and compelling part of coaching executives is their disbelief that fear exists (for them.) They will call it a lot of other things, they will reference something that may 'infringe on their reputation,' 'compromise their integrity,' 'derail their momentum' but rarely do they identify those as fear. What is very present is the sense of being stuck - because to move might be to acknowledge that which they most want to avoid. So what supports action? I will start with the two of the four elements here today.

1) Get to the core belief/value around the 'what if' the worse thing happens. When leaders can identify the elephant in the corner of the room that is sitting on their solution, and it hurts, while they pursue getting to the truth for them, they will find comfort in the midst of that scary place.

I call it being in Breakdown on the way to Breakthrough. It's not uncommon to have fears of looking bad, failing, being exposed as 'fraud' and losing trust within our team. In fact, the leaders that do have those reality checks are (I have found to be) very strong leaders and are highly regarded in their field. They have a keen sense of self and humility that is a necessary element in a top-notch leader.

2) When the elephant in the room has been named – coaching enters into the mix toward building a plan to move. That plan is often multi-dimensional or as simplistic as a single action step – what is necessary is the documentation. With every plan for action there is necessary documentation, to support the plan or step and to use it as a learning/teaching point in the future. When leaders have that road map to follow or to tell them where they have been, it often removes the element of fear around ‘what if I make a mistake’ in the future because they have the data to support their move.

Our next posting will have the final two elements of taking positive action toward your resolution - even if you are a little fearful. For the time being, begin a plan to identify and name that elephant in the corner (mine often has pink polka dots.) It is the action of naming itself that you will begin to gain power and it's size begins to become less of a threat. Truth telling is key.

Here are some coaching questions for your consideration based on this article:

Coaching Exercises

1. How would you describe your current relationship to resolution (even if fear is present?)
   
   
2. What works well to promote and encourage resolution in your workplace? Look for the strengths, good behaviors, supportive cultural strategies, etc which may exist.
   
   
3. What is not working so well and therefore is an opportunity for improvement? Again, look for behaviors, strategies (or lack of strategy), challenges, choices, etc.
   
   
4. What action step can you identify now to remove any fear? Consider what you have identified above that works well. What resources will it take?
   
   
5. As a result of identifying and naming your obstacle, what are you committing to for the future?