Executive coaching has emerged as a leading business service with considerable impact on management and organizational development.
According to IACCM for the last few years significant number of corporate and middle-sized business organizations reported increasing of their market profit due to results they achieve by using executive coaching services.
Senior management and company owners sought out the executive coaching for a wide range of organizational issues:
– serious performance and/or leadership skills deficit;
– inability of the executive staff to cope with significant increasing stress;
– ambiguous or indeterminate management responsibilities into organizational processes and dynamics;
– inappropriate appointment of high-potential individuals;
– no clear matching of corporate goals and available management’s resource;
– low levels of executive’s motivation and engagement to company’s values.
Coaches, management consultants and leadership development professionals welcome the very practical and long-term oriented investment companies are making in their management staff. It’s indicated like a really high-potential ROI, especially the efforts in supporting the executive’s development.
That is why contracting an executive coach is most effective as a three-party engagement between executive, coach and sponsoring manager/company. This practice can add great value by developing leaders who support their organization’s business aims. It is proven that those companies investing in their executive’s professional development continue to thrive.
As many of senior managers are result oriented they usually are interested in what is next after coaching service provided.
All the three parties the executive, the coach and the company take the necessary steps to ensure that executive will be able to continue his/her development. It is very important part of the coaching process. It includes preparation in cooperation of a mid or a long-term development plan. In order executive to profit by coaching it is needed the future areas of focus, relevant resources and action steps to be identified.
One of the crucial concepts all the players in the business development need to understand: Executive coaching process is a part of a bigger picture. It is not just a personal benefit, life improvement or a personal change for the coachee – it is always a subject of organizational intervention towards development.
Whatever personal needs were met through the coaching process coaching is sustainable work, result oriented process, functioning within the context of the organizational system’s goals and objectives.
What are the basics needed for executive coaching process to play a catalyst role for sustainable executive’s and organizational development.
Executive’s Involvement – being able to:
– identify and understand any possible areas of a further progress
– identify those areas which could be critical to address in his/her future roles
– identify his/her own development needs and to provide the sponsor with a regular feedback on his/her performance;
– identify his/her specific role in formulating his/her own development plan;
– identify the level of correspondence of his/her own development needs to organizational goals;
– identify specific actions to be taken;
– identify the organizational capabilities to maintain a proper and direct communications;
– accept his/her manager’s role to monitor his/her team development, on a regular basis;
– identify his/her manager’s commitment to his/her future development.
Executive’s manager/sponsoring company involvement – senior management levels involved are expected to:
– take responsibility for monitoring future progress of the coached executive
– work in close partnership with coached executive;
– support the executive in his/her participation and proposals for company development;
– incorporate into the development plan a regular review of progress towards company’s objectives and goals.
Coach’s Involvement – openness and readiness to:
– work on increasing executive’s awareness of company processes and procedures w/o direct connection with his/her management role;
– facilitate involvement of the executive in company development measures as rotational and stretch assignments, task leadership, staff motivation and assessment, corporate culture building or change initiatives;
– support the executive’s future development planning;
– provide a constructive feedback about the executive’s progress toward organizational development objectives;
– provide internal coaching and mentoring culture building possibilities for future use in the organization in order to increase it’s effectiveness;
– provide feedback to the senior management on performance, strengths, and organizational development needs. – – – – – – –