Every field requires a mentor that can direct you on the tasks you are involved in so that you can increase your productivity. An executive coach enhances your leadership skills to help you become a better leader in your organisation. Executive coaching involves a one-on-one mutual relationship between you, a company leader and an executive coach.
What is executive coaching?
Executive coaching is the professional training that an organisation key leader receives from a trained coach regarding that particular profession. Coaching is provided to facilitate a leader’s ability to comprehend and to utilise self for a nonprofit perspective efficiently. The relationship between the executive coach and the organisation leader happens in a nonprofit corporation where there exist multiple stakeholders as well as board sponsorship for the assignment.
Typically, executive coaching is offered from executive director level in a smaller not-for-profit organisation but can be provided even to the departmental heads in more extensive and more complex nonprofit companies. Executive coaching is mainly provided with the aim of benefiting the customer who is accountable for significant decisions in his or her institution.
Benefits of executive coaching
Executive coaching has turned out to be one of the most beneficial business strategies in organisations and continues to expand. ROI for companies investing in coaching is 7 times the initial investment, corporates are now spending heavily on executive coaching for business leaders. There are various benefits that a leader and the entire organisation get by embracing executive coaching. The following are some of the benefits of executive coaching.
1. Enhancing productivity
The performance of a Chief Executive Officer impacts the organisation directly. Having an executive coach for your company’s key leaders result in increased production of the executives that are translated directly to the overall business performance.
2. Decision making
A professional executive coach focuses on supporting the leader develop essential leadership skills such as making empowered decisions that an ordinary leader could hesitate on. Additionally, executive coaching allows you to reduce distractions and improve how you focus on essential values.
3. Leading from the front
Executive coaching models to becoming a leader by example. Your commitment to personal development is enhanced to help you to set an excellent example for your employees.
4. Effective communication and feedback
The primary approach to evaluate your performance is by receiving honest feedback. When it comes to getting feedback, the best way to obtain quality feedback is by use of executive coaching tools.
What to look for in an executive coach
Just as it happens in other professionalisms, not every executive coach can offer you the exact thing that you are in need of. You need to make an informed choice when choosing your executive coach. You need to equip yourself with information about how to select an executive coach. It could be difficult to be well versed with tips on how to choose an executive coach. Some of the qualities of a qualified executive coach include;
1. A track record of success
It is vital for you to do some research before contacting and contracting an executive coach. Moreover, consult your colleagues on the coaches that they have worked with, research about the major mentorship companies that have attained a reputation of several years of success and also read online reviews about those firms.
It can be very complicated for you to work with an executive coach who is hard to honour your appointments as a result of a busy schedule that they have with other clients. Place yourself in a better position by contracting a coach who allows you enough time of service.
3. Willingness to support you
A coach that has full willingness to help and positively challenge your organisation can be the better for you. However, having a coach who combines this value with some little resistance is the best. A great coach will ensure that he or she has formulated ways to get you off your comfort zone and help you to look at business challenges in a professional manner.
Questions to ask an executive coach
Every training, learning or coaching is accompanied by questions especially when something is not clear to you. At the same time, asking questions helps your coach to figure out the amount of effort you need. Some of the common questions to ask an executive coach include;
1. How can you help me?
There are numerous career coaches in various mentorship firms making it hard to determine the one that can handle your needs best. Asking this questions helps you to examine the capabilities of different coaches to help their customers. Asking relevant questions is key to knowing how to find an executive coach.
2. How do you define success?
It imperative for you to know what your executive coach considers to be a success. A good coach will help you see success a few steps from you and show you how your business can become successful.
How much does executive coaching cost?
In most cases, an executive coach charges A$100 per hour on average. This is a starting cost and may rise even to A$15,000 depending on the agreement. A local executive coach can charge you A$150 per session and with a one year contract. Knowing the value of an executive coach helps you to determine how to use an executive coach.