Going a Level up with Your Business - Executive Coachingby Ronald Wolf Business Consultant
One of the greatest misconceptions of the business world is the idea that one improves in order to get a promotion or a raise. According to that logic, once a person reaches the top or near-top of the corporate ladder, they would no longer need to self-improve or learn. In truth, this is when they need this the most. The higher one rises, the more impactful their actions become, which is why they need to become as effective as possible. The best way to get there is through executive coaching. Here are several examples of how this works.
Learning from other people’s experience
The first massive benefit that your brand gains from executive coaching is – the ability to learn from someone else’s experience. You must have noticed that some of the veteran executives have the ability to recognize a potentially troublesome situation and avoid it, same as they can spot a lucrative opportunity a mile away. Some people like to call this ‘a gut feeling’ when, in reality, it’s just a subconscious recognition of one’s previous experiences. This sensation they feel is just a flashback to a previous situation with similar circumstances.
The advantage that you gain from this lies in the fact that you can avoid learning from your own mistakes. Sure, some of the greatest businessmen of all time like Henry Ford and Walt Disney went bankrupt at one point in their lives and learned from it greatly, nonetheless, not a lot of people can bounce back from the brink of defeat. Needless to say, learning through someone else is much safer and it can be equally as effective.
Reduction of internal conflict
Conflict mediation may seem like a necessary function but it has one significant downside. Instead of treating the root of a problem, mediators try to handle symptoms. Needless to say, with this course of treatment, the illness always reemerges. Unlike them, executive coaching addresses the main causes of employee conflict in the workplace. For instance, a poor communication or a different set of values for different team members can become a major point of conflict. Luckily, this can be resolved through executive coaching.
Apart from this, the issue of competition and difference in personalities is also quite a persistent issue. The problem with this, however, is that it is something that can’t just go away. In order for this to change, you need to adopt a corporate culture that values diversity and teamwork. Rewarding backstabbing and individualism will only make the matters worse. To counter this, you need to learn how to promote a work-friendly environment around the office.
A better focus for the executives
One of the greatest problems for executives all over the globe lies in the fact that they don’t know how to focus on their core tasks, in fact, they don’t necessarily know what their core tasks are in the first place. Does a CEO of a steel-manufacturing conglomerate need to know all there is about steel? Of course not, this is clearly someone else’s responsibility.
By hiring people who are good at what they do and placing them in all the right positions, you can ensure that all this work is done properly. As for the executive, they have their own set of responsibilities and this is exactly what executive coaching aims to teach them. In other words, executive coaching gives you more focused leaders, which is a trend that inevitably leads to progress.
Grooming people for leadership positions
Bringing in a manager from another company can be incredibly efficient, however, it is usually expensive and comes with a long adjustment period. Every company has its own internal structure and relations which is something your new manager will have to get accustomed to. On the other hand, there is an alternative solution that might yield even better results.
Namely, taking promising employees and grooming them for leadership positions is a sensible idea. First of all, they know the company inside and out, which means that you can avoid bringing in the outsider. Second, it is cheaper, seeing as how poaching an employee from a competitor tends to be a costly practice, as well as one that creates bitter rivalries. Finally, the effects are better, due to the fact that you get to mold them into the type of a leader that your company needs.
At the end of the day, executive coaching is a trend that benefits your company in more than several ways. Apart from making your leaders more efficient, it also molds your employees and sets them on the path of corporate leadership early on. In this way, you make the growth of your brand both inevitable and easily scalable. A clear and undeniable win-win situation if there ever was one.
Created on Mar 28th 2018 04:23. Viewed 766 times.