Executive coaching has become a “Go-to” for executives and large corporations like Goldman Sachs who want to maximize the effectiveness of their leaders. For some, executive coaching may be new or something you want to learn more about; So, what exactly is Executive Coaching (EC)?
Executive Coaching, EC, is a personalized development process that uses research and data to maximize the growth of trainees as it aims to increase their capability to achieve both short-term and long-term organizational goals.
EC has consistently been used in the development and assessment of executive leaders. Through one-on-one sessions, EC has proven to be an effective intervention that boosts the skills and practices of senior leaders. Whereas regular management training has increased the productivity of leaders by 22%, the implementation of EC increases the performance of leaders by 88%. Consistently, executives and Fortune 500 companies have reported a 529% return on investment of EC.
Performance management is another area where executives may benefit from EC. Knowing how to provide actionable feedback that actively shapes the performance of employees is a skill that many leaders still aim to develop. Executive coaches serve to help facilitate this process and train executives on how to properly develop their team. Through EC, leaders are trained on how to focus on what a team should be doing differently to what they are currently doing to achieve the desired outcome.
Executive coaches at times also take the role of a consultant and help bring your business aspirations into focus. EC uses a plethora of research-based practices to guide the design and strategic planning of an organization to boost the organization culture, the team cohesiveness, job performance, and organization commitment. EC also uses behavioral techniques to shape leaders to better tackle conflict resolution and polish their conflict management approaches.
EC is an effective and multifaceted tool that allows leaders to be challenged and have support as they move through ambiguity. In short, EC can assist organizations and their executive leadership through the improvement of working relationships, cost reductions, employee retention, job satisfaction, productivity, and effective teamwork.
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