In today’s ever-changing corporate world, executive coaches are evolving to become business partners. Three of the most popular ways that coaches help these enterprises are:
- Becoming strategic partners on advisory boards and ensuring businesses make the best use of its employees,
- Helping to design hubs of excellence to deliver both innovative learning and talent management programs and,
- Working closely with Human Resource departments to provide specialist outsourced coaching services.
Two types of executive coaches fill these roles. The first is a professional that has expertise in a particular area of business learning and development. The second is one with extensive experience in building and managing organizations. Both can make substantial contributions to the future of your company.
Having an executive coach as a trusted business partner and advisor has now become a common success strategy for many executive. By helping corporate leaders and their senior teams navigate through various business challenges, the coach is able to add substantial value by collaborating directly with the senior management team. This guidance and support helps the team focus more effectively on both their own leadership development and that of their employees – and on the strategic interests of the company. The working relationship between a coach and senior teams more effectively achieves important business objectives by greatly increasing the success of each employee and of the team.
You should think through a few things before hiring an executive coach to act as a business partner. You need to understand that a coach as an adviser will often result in a radical change to the way you have been fulfilling your role. Creating an advisory partnership is a means to an end but not a quick fix. It is a transformative process. It involves your own personal and professional growth. It is a learning process; a journey rather than a destination.
A few of the most common reasons that companies are hiring Executive Business Coaches are:
- In order to be successful in today’s business world an organization must build and develop a large pool of highly skilled, creative, motivated, flexible and committed professional managers, leaders and CEO’s.
- It is increasingly difficult to recruit the best available people in today’s shrinking skilled labor pool. Coaches add to that pool and help recruit high-quality talent.
- A good coach is an expert in assessment tools. By utilizing management assessment and leadership development tools, psychologically based executive business coaching can provide a strong assessment program that leads to improvements in both organizational and individual performance.
Embedded within a company’s drive for competitiveness is the recognition that high-performing management and CEO leaders are essential for companies to achieve and sustain competitive advantage. In order to improve overall organizational effectiveness there is now an emphasis on working with the aspects of an individual leaders’ behavior – particularly one that has the potential to increase both their individual and collective performance.
One of the major advantages of receiving behavior based coaching initiatives within the workplace is that it can assist the company’s Human Resources Department in aligning management practices within the broader framework of the organizational strategies and improve the quality of the working lives of the corporate leaders.
The services of an Executive Business Coach as an Adviser result in a paradigm shift of operation and thinking, this type of partnering has very quickly become a corporate requirement that delivers open discussion and informed decisions, which in turn ensures long-term business growth and success. If you want to know more about executive coaching services, send me an e-mail and we will arrange a time to talk.
© Dr. Earl R. Smith II