Executive coaching is one of the hottest tools and strategies major Indian companies are implementing right now. No longer are businesses turning to an Executive coach to fix a problem. Now organizations turn to executive coaching – as a method to give them a leading edge and advantage in the ever evolving business world. Approaches such as leadership development are being used to help businesses grow and strengthen from within their organization by supporting their top-level executives and hiring from within. In the past, executive coaching used to be seen as a sign of weakness or taboo. Management and executives did not want to be seen as working with an executive coach because they felt that others might believe that something is wrong with them or that they cannot execute and perform at a higher level. But in recent years more companies now realize that this is not true and that executive coaching can give them a boost in their productivity, strengthen their leadership and communication skills, improve their balance of work and personal life, and enhance their overall performance within the company.
Executive coaching is where a CEO, top-Level executive, or manager ( trickle down effect? ) engages another person who has the level of expertise to support and guide the client to become a better leader and help them address certain challenges and decisions they may be faced within their company’s organization. An executive coach not only provides a neutral space for the leader to assess what is happening to ensure quality decisions are made, but the executive coach also brings a level of management experience to the coaching relationship in which the client can draw from. It should be made clear that executive coaching is not telling the client what to do or think. An executive coach is not a business consultant who is bringing a certain level of expertise to the relationship to tell the client or business what to do. Executive coaching is about helping the CEO, executive, or manager become a stronger leader via leadership development skills, execution strategies, and developing stronger communication skills whether they are implemented in inner office situations, presentations, or business meetings.
How does it work?
If you observe an well-accomplished athlete – he engages a coach and spends long hours with his coach to harness his superior skills to become the best in the activity he is already good at. One should not consider it as a weakness or lacking in his ability, if he employs an executive coach. Executive coaching works because it allows you the time to focus on a specific area in which you may need some help or support in working on a specific aspect of your game to excel at a higher level.
Why to engage an executive coach?
If you observe, during the booming time of the e-commerce or software companies in the years 2002-05 – the leaders and CEOs were primarily young and they held senior positions in several mushrooming organizations due to their technical expertise in core business areas. I do not say they lacked leadership skills – but, it is a known fact many such organizations went kaput or closed down. There was a gap in expectations and deliverable and it is here an executive coaching can help to bridge the gap. Instead if these companies had brought in an aide or an executive coach and assisted their CEOs or management team to help them build better communication and motivation – productivity and workflow would have drastically improved.
One trend that is starting to grow within Indian organizations is bringing in an aide or an executive coach to help build management and leadership skills with existing employees so that the company can hire from within. Recent studies have shown that businesses are better off spending money on engaging an executive coach and training existing employees who already know the business versus spending money, time, and manpower on recruiting a new top level executive or manager. By hiring within and using an executive coach, companies now see that it not only saves them money on their recruitment efforts, but also time since their employee already knows and understands the business. More importantly, this helps boost overall moral of the entire staff because they see employees being rewarded for their hard work.
( The Author is Director/ Proprietor of Rambuna consultants extending new business start-up assistance, recruitment services, corporate training workshops including executive coaching assignments)