Why is Executive Coaching an Important Part of a Manager's Journey?
Leading and managing a business team is a hard nut to crack. A manager is expected to create the right balance of multiple skill sets and get the best out of a dynamic team for the achievement of business goals. While managers are professionally-equipped with the theoretical knowledge to lead teams, sometimes, they fall short in analyzing the behavior of team members, realizing their potential and bring necessary changes for improvement due to limited practical knowledge and skills to manage dynamicity among team members. This is where an executive coach comes into the picture. An executive coach plays a crucial part in the professional journey of a manager by providing him with necessary insights and feedback that helps him/her to develop additional skills for success.
Benefits Of Executive Coaching For A Manager
A manager is expected to wear multiple professional hats- from being a mentor who guides a diverse team towards goals, to an analyzer who has a keen eye for talent and how the same can be utilized for better results. An executive coach helps a manager in professionally improving his inherent strengths that can help him in becoming a complete bundle of necessary management and leadership skills. As the behavior, personality and manners of a manager define the work culture of the team he/she is leading, it is important for a company to invest in executive coaching for a manager that improves his/her professional skills while making him a good role model for the whole team.
Getting Back On Leadership & Management Track With The Help Of Executive Coaching
Often, in an endeavor drive organization towards end goals, a manager forgets the importance of motivating and leading a team, efficiently. Executive coaching help business managers in improving relationship with team members and acquire necessary leadership skills to drive team members according to the set goal. By helping a manager in identifying his personal management and leadership deviations, an executive coach can bring a positive change in the performance of the whole team and ultimately ensure a company’s success. To realize the true potential of executive coaching, a manager must find a coach whom he/she can respect as a mentor.
The relationship of an executive coach and a manager closely resembles that of a train and its conductor. The executive coach functions as a conductor that helps the manager (train) to stay on track at all times and acquire required pace while overcoming dynamic hurdles during the course of professional journey.
To get back on leadership track, a manager must be open with the executive coach and must accept his/her blind sports that are pushing him away from growth for the best results that help in driving professional growth.
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Quantifying The Benefits Of Executive Coaching
Executive coaching is an important part of a manager’s journey as well as that of an organization. According to American Management Association, the organizations that make use of executive coaching for managers are reportedly stronger in terms of market performance. This is a result of better leadership and management skills of managers. Also, according to a survey by PWC and Association Resource Center, the organizations that invested in executive coaching registered a greater ROI that ranged from seven times to 49 times of the initial investment.
Along with quantifying the importance and benefits of executive coaching by looking at organization’s growth, the benefits can also be measured by having a look at multiple external and internal factors. A manager can look at the impact executive coaching has on his personal growth by analyzing if the same has led to growth in the output of his/her team, increase in revenue share of his/her department, or conducting a self-assessment of personal skills or getting feedback about positive change in behavior from team members or higher management.