19th April 2022

What are the Benefits of Executive Coaching?

Coaching Can Help You Achieve Personal and Professional Goals

Executive coaching has become a common service in the modern corporate world. With fast-moving and unexpected changes becoming the norm for our global society, having a neutral third party come in and guide an organization towards optimal performance from the top down is an excellent strategy for maintaining positive growth.

And that’s the reality of executive coaching – the guidance executive coaches dole out to the C-suite leadership trickles down to the rest of the workforce. Having a culture focused on continual skill-building and internal work – which are two achievements of executive coaching – helps promise continued success as a business.

Let’s learn more about executive coaching and how it can improve your organization.

What is Executive Coaching?

Executive coaching is professional training that typically lasts between 7 and 12 months. It focuses on improving crucial skills for business leaders that will lead to a happier, healthier working environment. These skills are taught in a safe and trustworthy environment as created by the coach and can include teaching company leaders to:

  • Better understand themselves
  • Understand how they’re perceived by others
  • Improve their understanding of the people around them
  • Challenge their own assumptions

Executive coaches will also help leaders identify goals and how to reasonably achieve them, such as with S.M.A.R.T. goal-setting, and a variety of other valuable assets.

Executive Coaching Benefits for Leaders

While executive coaching is tailored to the needs of its clients, there are some common benefits that leaders may experience.

Increased Levels of Motivation

When a third party comes in to objectively review your company and starts making suggestions to help leadership styles and organizations get back on track, it can cause an energizing boost in morale.

This is because as leaders are able to realign themselves with their business’s goals and ultimate purpose, that alignment instigates a feeling of shared purpose which is a powerful motivator for both leaders and their teams. Furthermore, as leaders set and meet their goals with the help of their executive coach, those results can inspire them to continue working on themselves and their business.

Improved Goal-Setting

It’s easy to come up with short-term and long-term goals for your business and yourself. However, executive coaches teach their clients how to set S.M.A.R.T. goals.

S.M.A.R.T. goals are:

  • Specific
  • Measurable
  • Achievable
  • Relevant
  • Time-bound

This combination of specific details and adaptable plans helps ground goals. So instead of pursuing a lofty ideal with no identifiable progress or plan to get there, S.M.A.R.T. goals provide a map for leaders to achieve results.

When a leader implements S.M.A.R.T. goals, the business can share in a unified purpose that will achieve its desired results. And results, as we’ve already discussed are powerful motivators for the continued positive progress of a business.

Personal Growth

One of the largest components of an executive coach’s work involves the internal world of a leader and how it affects their business. That means executive coaches will provide guidance on how leadership can improve their:

  • Emotional intelligence
  • Self-regulation
  • Self-awareness
  • Empathy
  • Social Skills

All of these traits work in concordance with each other, and when they’re improved upon they lead to a better understanding of a leader’s self and the people around them.

When leaders are in tune with how they’re perceived and they’re perceiving people compassionately, they’re simply better at leading. The working environment becomes more positive, people become happier, and long-term success is easier to achieve. You’re better able to evaluate peoples’ individual strengths and weaknesses, making it easier to set them up for success with the right role, and in the right team.

Additionally, knowing oneself leads to better confidence. When you know your triggers and how you’ll react to most situations, you gain better control over life – including implementing a work-life balance, being more organized, and having excellent time management and communication skills.

Executive Coaching Benefits for Companies

In most of the above benefits for leaders, I mention how they will lead to improvement within the larger company. I want to address some ways in which executive coaching strengthens a company from the bottom, up.

Resilience to Sudden Change

We all know that in the last few years, things have become increasingly unpredictable. Environmental changes, sudden war, global pandemic…you name it. Executive coaches can be brought on to help coach companies through the ramifications of these events, as well as more internal challenges such as:

  • Large expansions
  • Changes in capital
  • Private equity ventures
  • Power transfers
  • Successions

And other dramatic transitions, including migrating to remote work. Executive coaches are experts in the skills that make these changes easier and up to 48% of organizations have hired an executive coach to help them.

Pointing Out Areas That Need Improvement

As an objective third-party, executive coaches will see your business in a different light than you’re able to. They offer a fresh perspective, so they’re better able to point out blind spots that leadership would not have thought to analyze further. For example, it can be difficult for leaders to accurately gauge their employees’ happiness and efficiency – especially among remote teams.

Executive coaches can suss out the issue that’s negatively affecting your business, that you can’t seem to identify. They’ll then provide solutions for how to improve the situation with by facilitating employee surveys, one-on-one managerial meetings, company-wide conversations, and more. They’ll also help leadership accurately evaluate these results.

Creating a Better, More Diverse Company Culture

By now, we’ve all heard about the Great Resignation.

The 2021 Bureau of Labor report statistics alone show that the overall turnover rate in corporate America is 57.3%. With employee retention being a huge issue for businesses, improving the company culture is the first step toward rectifying the issue.

Executives are noted as having the biggest impact on the workplace environment, so when they begin to improve upon themselves they directly improve the workplace.

Furthermore, diversity in the workplace is a big aspect of improving employee retention. When workers feel like they’re in a diverse, safe environment with equal opportunity for all, they’ll feel happier and more secure in their work.

Where to Find an Executive Coach

The benefits of executive coaching include helping you reach both your personal and professional goals, and improving your interpersonal skills. Working Simply’s executive coaching helps leadership recognize their organizational impact and develop the authentic, agile leadership required to succeed in the new world of work.

Learn more about our executive coaching program.