Fortune Magazine once asked Eric Schmidt, Chairman and former CEO of Google, what was the best advice he’s ever received.
His answer? “Everybody needs a coach.” Watch below:
Executives and leaders today are expected to deliver ever-increasing results with ever-decreasing resources. Despite this mounting pressure, the top of the pyramid is a lonely place – executives and leaders have a scarcity of people with whom they can test ideas and frankly discuss challenges. An executive requires command of the requisite leadership skills and behaviours. Unfortunately, these traits are often found to be in short supply.
Role of an Executive Coach
Executive coaches are the solution. Executive coaches are a dependable, trustworthy sounding board for leaders and executives. As trusted guides, they effectively help leaders to achieve sustainable development, change, and growth at every level, whether it’s an individual, group, or organization. An executive coach is simultaneously a business coach that can guide a leader on vital skills such as communication, conflict management, team building, decision making, and interpersonal interactions, giving an executive the strategic planning tools to boost both efficiency and effectiveness.
Executive Coaching Benefits
Executives and leaders will clearly witness progress and forward movement in learning, performance, and fulfillment. Not only that, but the benefits are tangible – surveys have shown that nine in 10 executives believe coaching to be worth their time and money; the median return on investment was more than seven times the amount spent. Executive coaches are invaluable in providing the business coaching and leadership training that the leaders of an organization need.
Executive coaching is, at its core, about helping create the changes that will lead to achieving goals. It accomplishes this by expanding choice, increasing awareness, and deepening executives’ trust in themselves. According to Fortune, executive coaching is 55 percent more effective than just training alone. It is a huge boon for leadership development, particularly in the case of C-suite executives but also to foster high potential talent within an organization.
To sharpen leadership skills and foster the qualities crucial for being an effective leader, executive coaching is a smart business investment with abundant return.