Businesses in the USA spend more than $1 billion on executive coaching for their leaders but what are the benefits? Businesses which previously invested all their money on improving the employees below the leadership level have realised that they enjoy a better return on investment when focusing on their high potentials and business leaders. Their organisations accelerate their performances when leadership is developed, improved and future proofed.
Coaching can be an integral part of a learning organisation. In a fast-paced environment, high performing individuals are expected to have keen technical skills and exhibit strong leadership, ownership, and accountability behaviours. When business leaders drive performance from leadership, ownership, and accountability, they are better positioned to make decisions, interact with and lead teams, and provide world-class customer service.
So what are the benefits? Here are the 5 key ones;
1. Modelling leadership from the front
Leaders set the tone for the business. By working with an executive coach you show that personal development is important to you and will encourage others to follow to establish a company-wide culture keen on learning and enjoying looking outside their comfort zones.
2. Enhanced productivity
The performance of a CEO has a direct effect on the performance of the organisation. Your executive coach can help you to see and act on your "blind spots", become more self-aware and dismantle roadblocks that will lead to better personal and business performance.
3. Empowered decision making
Coaching will provide you with more confidence to make empowered decisions by removing distractions, providing more clarity and ensuring that actions are aligned with purpose, vision and values.
4. Effective feedback and communication
The key to evaluating performance is truthful feedback, and there can be no better way for you to get quality feedback on your performance than using executive coaching tools. Communication skills are critical to a successful business leader and executive coaching will help to enhance these skills.
5. Driving results and organisational shifts
One of the best benefits of executive coaching is the potential to get measurable results that can lead to organisational shifts. A real focus will be on moving from the distraction of constant firefighting to a culture of creating sustainable and repeatable processes.
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