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What Can Executive Leadership Coaching Do For Your Company

Jun 12, 2008
With all the costs involved of running a business of any size, executive leadership coaching is low in the priority list for many business owners. But in reality, investing in executive leadership training is one of the best things you can do for your business.

Today's economy is fickle and precarious and nearly all businesses are feeling the effects. Far from having the luxury of employing executive leadership coaching, many companies have to deal with deciding where to cut costs in order to make up for decreased revenues.

Unfortunately, some companies believe one of the easiest ways to do this is to cut their employee training budget. Deemphasizing or illuminating the costs of executive leadership coaching programs may prove to be a short-term gain, but businesses interested in long-term viability need to understand that to be successful they must continually develop their people, especially their leaders.

The American Society of Training and Development conducted a study surveying HR Directors at small, Chicago-based, start-up companies and found that leadership training was their number one professional challenge. Another recent study showed that companies with regular executive leadership coaching consistently outperform companies who do not train their people by about 35%. These findings are consistent with those of previous studies, and prove that proper executive leadership coaching is one of the single most effective ways to improve productivity at every level of a business.

There are all different kinds of executive leadership coaching programs. The best ones (the ones that have been proven to have most positive and lasting results) promote leadership in three phases;Plan for Leadership Development. The first part of planning an executive leadership coaching program is to examine what you currently have in place.

The next planning step is to begin identifying characteristics of people who are already successful leaders in your company. Every company has a unique culture that favors particular characteristics. The key to building a successful executive leadership coaching program begins with looking at successful people. Ascertain what it is about them that makes them successful. Chances are you will begin to notice patterns of common experience, educational background, training, communication skills, and interpersonal relationship skills.

The next phase is Practice Leadership Development.
Once you have decided on characteristics you want your leaders to emulate and have defined what "success" looks like, it's time to implement the program. Start small, with one or two people. This will allow you to test your executive leadership coaching program and make adjustments. There are different ways to begin the program, but nearly all successful ones include elements of: Effective business communication,Conflict resolution skills,Team building,Relating to different personality styles,Time management,Delegation skills, Goal setting,Critical coaching skills,Other areas specific to your business.

The last phase is to Promote Leadership Development. Once you have refined your executive leadership coaching program by working with a couple of leaders, you are ready to start promoting the program. One way to start is by informing potential employees of your executive leadership coaching in the interview process. This ensures that all new employees start out with the company developing good habits.

Executive leadership coaching is absolutely critical to the success of business, especially small to medium sized companies. Successful companies understand that "people are our most valuable asset," and therefore, developing people through effective executive leadership coaching is a most important investment. Smart companies are beginning to recognize that leadership development and people training is a process, not an event. So executive leadership coaching deserves more than just the annual workshop attention.
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