The ROI of Coaching
5 Ways Coaching Can Overcome Your CEO’s #1 Challenge
“Between an idea and execution, most organizations face a massive gap. Most people simply don’t focus on the need to bridge this gap. It’s a massive disconnect between strategy and management.”
Richard Vargas, Executive Director, Brightline Initiative
In today’s age of digital disruption and rapid change, the role of the leader becomes increasingly critical. Leaders take on the formidable responsibility of navigating through constant organizational change; inspiring and influencing others to follow them on the journey and contribute to organizational success. However, recent research of more than 1,000 C-level leaders from the Conference Board shows us that the current efforts to find and develop these transformational leaders are failing.
Top 2 challenges for CEO’s today:
- Developing next generation leaders.
- Failure to attract & retain top talent.
As the largest employer of executive coaches globally, LHH has a unique perspective on what successful coaching looks like to maximize leader performance and overcome the execution gap evident in organizations today.
The ROI of Coaching – 5 ways coaching can overcome your CEO’s #1 Challenge
1. In Coaching, Three Is No Crowd
Too often, a leader’s perspective on what they need to achieve out of coaching differs from their direct leader’s perspective or HR’s, so we recommend that the first session is a triad meeting to ensure this alignment.
2. Don’t Abdicate Performance Management
Coaching should be used to maximize or optimize performance, not as a tool to manage poor performance.
3. Coaching ROI Is Behavioral Change, Not Lip Service
Using multi-rater feedback or 360 feedback from a leader’s stakeholders measured pre- and post-coaching is a more accurate method to quantifying any behavioral shifts
4. Sustainable Coaching
There is allot of discussion today on creating a ‘coaching culture’, however it’s important that a corporate culture starts with the right coaching practices. Within each coaching program, each manager & leader needs to be developed to be a coach themselves.
5. Democratize Coaching
Historically, it’s always senior executives that receive coaching, and organization forgets about middle management. If only doing individual coaching, organization is losing the team and opportunity to grow.