Executive coaching has become an increasingly popular and effective tool to enhance leadership effectiveness since the executive challenges today have evolved towards ‘Putting Knowledge to Work’ as in:
- Putting leadership into practice: Many executives understand the practice of leadership as they have attended numerous seminars and read many books etc, already. However, the challenge is to practice leadership daily, i.e. convert leadership knowledge into practical application and implementation in the organization to improve the performance of people and the effectiveness of the organization.
- Building People Process: Today’s knowledge economy and fluid organizational structures have led to people being undeniably the most important assets of any organization. Therefore, building better people processes to increase leadership effectiveness and to grow & develop the next generation of leaders has become critically important. Coaching has proven to be an effective tool to support leaders:
- To build people process and at the same time
- To develop themselves and empower their teams
In essence, there are three ways to effectively coach leaders in organizations:
- Executive coaching. An intensive 1 on 1 process where the leader and the coach address well defined challenges to enhance the leader’s effectiveness and the effectiveness of his team. The efficacy of this program is in the rigorous follow through process and the measurement of enhanced effectiveness throughout the coaching engagement.
- Group / Team Coaching. This is ideally suited for organizations that provide coaching to a group of people managers through a combination of shared sessions and individual 1 on 1 coaching sessions and at the same time desire to optimize cost effectiveness and to create real change impact.
- Coaching seminars. Such programs focus on understanding coaching processes and skills to enhance people management competencies in coaching as well as other people management related skills. Our coaching seminars consist of three parts:
- Assessment on coaching requirements in the leadership team or the organization as a whole.
- Seminar on coaching process to improve leadership effectiveness
- Seminar on particular leadership skills that require change based on aforementioned assessment. Such seminars would be tailored to the organizations needs or could focus on general management issues as addressed in our seminars.
Coaching has become a major leadership development tool. Studies in USA show that:
- > 50% of Fortune 500 companies use coaching for executive & leadership development
- Coaching has become a top 5 learning method in these companies
- Most coaching programs have been in place from some 3 years
- Coaching is directly linked to higher performance of people and the business
- 50% of companies that do not do any coaching today say they have plans to implement coaching shortly
Source: American Management Association & Executive Development Associates, 2008