Executives are often frustrated because managers weren’t utilizing the skills they acquired through extensive leadership training courses that the company put them through. Many of these leaders were promoted because they performed extremely well in their role. Unfortunately, they didn’t have the leadership skills to be successful in their new role. The above is just one of the findings that was published in the American Management Association in conjunction with the Institute for Corporate Productivity, an HR industry researcher.
For the study, the AMA and i4CP surveyed CEOs, HR managers and other corporate executives at 1,030 United States and international companies across multiple industries. Approximately 41 percent of the participants had 1,000 or more employees and about 42 percent reported annual revenue of $500 million or more.
Among other major findings:
- Business coaching is more popular than ever, boosted by companies struggling to develop a new generation of leaders.
- Of U.S. companies surveyed, 52 percent said they had business coaching programs in place and another 37 percent said they would be implementing coaching programs in the future.
- Companies use coaches to work with executives, high-potential employees, problem managers and expatriates headed to overseas assignments.
- Companies that use formal metrics to measure performance of coaching programs are most likely to report that those endeavors are successful.
Many companies are motivated to utilize business coaches is that, it works. According to the AMA survey, companies that use business coaching report performing well on such measures as revenue growth, market share, profitability and customer satisfaction. According to the survey, individuals who had received coaching were more likely to set
work-related goals and believed subordinates trusted their leadership abilities.
What’s in it for you? Executive coaching makes poor managers better, decent managers good, and good managers great!
Executive Coach: Five reasons why your company will get a competitive edge:
1) Improve accountability and results. Coaches create significant, measurable improvements in performance by being unbiased and objective. They do this by setting up outcomes and creating a path for the employee to achieve the results.
2) Develop leaders who continue to improve the organization. Coaching builds organizational capacity by developing leaders. Many leaders get a promotion because of being the best in their role; however, this becomes problematic.
Coaching helps people gain insights into their own strengths and capabilities, embrace the vision of their organization, and take responsibility for moving the organization forward.
3) Improve communication across the organization. Coaches train people to have open, honest dialogue about how to make things better. The coach put the client in the driver’s seat to ensure that they are working towards the same strategic priorities.
4) Unleash the skills that employees need to perform. Coaching builds expertise in key areas required for high performance, such as: communicate powerfully, engage employees, manage up, build relationships, influencing, manage change, build teams, set strategic direction, and develop others.
5) Be a magnet for top talent. The best talent searches for opportunities to advance their skills and career. When you utilize a coach, you tell current employees that you care about their ongoing development.
High Impact Coaching
Stephen provides a cutting-edge three-step coaching process which provides critical conversations, tools, analysis, and practices that allow business leaders to unleash their potential. Stephen is in the business of listening for and reliably delivering a real impact on what business leaders deal with and the really critical items that impact the
sustainability of their organization. This coaching dynamic ensures our clients develop and excel to levels beyond what is initially perceived.
Stephen offers undistracted, unconditional listening that is open, trusting, honest, and objective. He is your “go-to person” with the tools to assist you in developing your vision of achieving permanent, long-lasting, and extraordinary results.
Studies show that the ROI of Leadership Coaching is clear:
- Companies receive an average return of $7.90 for every dollar invested in Leadership Coaching.
- On average, learning accompanied by Leadership Coaching is shown to have a 45%-58% greater increase in critical performance within the same time frame, versus that over learning without Coaching.
- High Impact CEO Coaching
- High Impact Executive, Managerial, and Leadership Coaching
- High Impact Business Coaching