What is Executive Coaching?
Executive coaching is a structured program which is designed to help executives take their careers to the next level and hone definite leadership skills in them. The program is detailed and comprehensive and focuses as much on a person’s organization skills and facilitates leadership development as it concentrates on personal growth. The curriculum is geared towards accepting industry flux and riding organizational change over it. With the right coach and the right training program one can expect improved performances and better and faster fulfillment of specific personal as well as professional goals.
Key features of an executive coaching program:
#1 – Developing self-awareness – One of the first exercises include introspection and concentration on the inner self. Special activities and sessions are designed to help develop greater self-awareness so that one can identify their own interests and skills better, focus on specific goals and work towards them.
#2 – Developing skills – Once you have a better understanding of yourself it becomes easier to identify and the hone specific skillsets which are the foundation of an executives’ future growth. These are not just working on an individual’s potential but working on them in conjunction with the new and upcoming trends and demands of the industry at large.
#3 – Setting goals and actions plans – While the key focus of all modules in an executive coaching program is individual development, it is not done in isolation. Instead the individual is asked to deal with every problem or challenge in a team environment so that their actions and decisions have the desired impact on the organization as a whole. So when they set specific goals they do so with definite action plans in mind to drive the team towards success.
#4 – Managing resources – The growth of an executive from a manager to a leader has a lot to do with careful handling and managing of resources. This includes human resources as well as other assets which can be complex, challenging, difficult and prone to constant change. One has to not only manage these existing resources but also make optimal use of them without stretching finances any further.
#5 – Transitioning to new roles – The final module focuses on assimilating all information and knowledge so that the future leaders can apply these effectively in their decision making processes.
Why is executive coaching important?
It is not just an important corporate strategy but executive coaching is the need of the hour in today’s global corporate culture. Today the entire business world is facing fast paced and completely unprecedented changes at every turn. Business models as well as management of resources have turned complex and difficult and need specialized treatment at every stage. In such scenarios one has to not only deal with organizational challenges like employee discontent and overwhelming communication bombardments, but also focus on developing the abilities and potential of the team as well as oneself in order to reach the next level.
Complex organizational change has become more challenging and stressful in an environment which needs higher results with lesser resource utilization. Or rather, with more compact and efficient resource utilization, so that the profit margins are not compromised in this competitive growth phase. It can be difficult to tackle all this without help and an aspiring leader can achieve his or her goals if they are a part of an executive coaching program that aids in managing these conflicts.
Gary Takacs is the founder of The CEO University is a US-based, CEO and Executive Peer Group Organization that creates opportunities for accelerated business growth and personal development through CEO Peer Group Meetings that are CEO-led, one-to-one mentoring focused on unique business and personal challenges, and purposeful learning events.