Ten Reasons Executive Coaching Works
Organizations today focus most of their executive coaching budget on leadership, including high potential leaders and top performers they believe can continue to grow and perform in the future.
These high potential leaders oftentimes have career and job options that others don’t, as they become sought after resources within their industry or area of expertise. When they have been contacted or made aware about new opportunities, these career and employment options frequently become part of the coaching discussion.
My experience as an executive coach over the last 10 years is that an overwhelming majority of leaders who are being coached remain and grow with their employer. Below are the top ten reasons I’ve found that executive coaching fosters retention and commitment from those being coached:
- Self-Discovery: Coaching and the techniques used in coaching help leaders see themselves as others see them. The coaching process creates moments of personal insight that can result in new ways of motivating performance in oneself and others. Most people have at least one or two weaknesses that are blind spots as well as one or two unrealized strengths. Coaching helps leaders understand what areas to minimize and maximize to reach their potential.
- Strength-Based Leadership Development While Improving in Gap Areas: Coaching is a strength-activating exercise. Leaders become better at leading people when they bring their talents forward in a more focused and strategic manner. Coaching helps clients focus their best talents on their goals and objectives. Focusing on strengths has an added benefit of minimizing weaknesses, or at least making them less noticeable. Coaches also use the discovery process of assessments, 360’s or stakeholder interviews to help clients improve in the one or two areas that matter most. This combination of amplifying strengths and improving in gap areas allows leaders to lead more effectively.
- Innovation: Coaching helps leaders continually examine their vision and then challenge themselves to seek new breakthrough thinking versus settling for old models and processes.
- Enhanced Employee Engagement: Coaching creates a positive work environment where employees feel valued and understood. The investment made in coaching demonstrates this value, and it helps executives avoid complacency through proactive engagement – continually seeking growth opportunities. Highly engaged employees exhibit higher retention rates, lower absenteeism, and improved overall morale. They are far more likely to achieve organizational results.
- Accountability: Coaching helps leaders to own and be accountable for their personal action and plans as well as for the teams they lead. Coaches work to ask deep, probing questions that may help a client look at multiple perspectives and think of who else needs to be involved. When coaching clients produce their own solutions as a result of this process, they tend to hold themselves more accountable for their actions.
- Improved Communication and Conflict Resolution: Executive coaching equips leaders with essential skills, such as more effective communication, how to better deal with conflict and methods to improve team dynamics. These skills serve to reduce dissatisfaction and improve morale.
- Tailored Development Plans or Coaching Goals: Coaches work closely with leaders to create personalized development plans or coaching goals. These plans address specific needs, aspirations, and growth areas, leading to better results, greater job satisfaction and the potential for future advancement.
- Navigating Organizational Change: Change is often challenging for employees. Coaches help leaders navigate transitions, adapt to new roles, and maintain stability during organizational shifts, ultimately improving retention. It is becoming more common to use coaching during on-boarding new executives or for newly promoted leaders to help them succeed in new cultures or higher-level roles.
- Stress Management and Work-Life Balance: Coaching provides tools to manage stress while maintaining or improving work-life balance. When employees feel supported in these areas, they are more likely to stay committed and retained.
- Long-Term Vision and Alignment: Coaches help executives align their personal goals with the organization’s vision, which helps leaders see the connection with organizational and personal success. When leaders see their role as part of a larger purpose, they are more committed.
In summary, executive coaching not only enhances individual performance but also strengthens team cohesion and organizational performance. This leads to greater retention and commitment within organizations.
How can executive coaching help your organization with improved retention and commitment?
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Lance Hazzard, PCC, CPCC, is a certified Executive Coach and Executive Team Coach helping people and organizations achieve success. Lance and Eric T. Hicks, Ph.D., co-authored Accelerating Leadership, published in June 2019. Lance is Executive Coach and President at Oppnå® Executive & Achievement Coaching. More information on the book, Lance and Oppnå® Coaching can be found at the links below: