The real contributors to the success of any organisation are the individuals that are part of it and the role that they play; each employee in the organisation, whether they are junior, mid-level or senior, is vital to the organisation. But the fact remains that the ultimate responsibility for the make or break of a company rests with the top management, the decision makers, the CEOs. And that’s why most organisations, to stay a step ahead of the competition, invest considerable resources to ensure that these core leaders remain effective.
This is where corporate leadership coaching can play a crucial role by offering top professionals the tools and techniques needed to reflect on their goals & challenges, explore novel ideas, and recognize their full potential. Read on to find out why coaching is important in leadership development and its key benefits to the individual and the organization.
What is Leadership Coaching?
Do the top rung leadership, with their excellent qualifications, knowledge & experience, really need coaching? After all they are already at the top of the professional pyramid! But statistics show that even the most dynamic leaders, decision makers and influencers may not always ready enough to meeting every single future challenge successfully.
One of the main reasons why many companies invest in corporate leadership coaching is because it can provide leaders with tools and techniques that can enhance their skills to maximize their performance, provide career development opportunities, become better managers, boost employee engagement & retention, and accelerate organizational growth.
Why Coaching is Important in Leadership Development
Leadership coaching can help top executives better understand the nuances and fundamental nature of leadership, challenge them to explore their undiscovered leadership qualities, improve self-awareness, sharpen their competencies, guide & motivate their team members towards delivering specific goals, infuse fresh energy within self & team to drive change (personal, professional & organizational). Leadership coaching helps leaders become the most effective version of themselves, helping upgrade not just their personal or team performance but ultimately their company’s functioning and results.
Key Benefits of Corporate Leadership Coaching
The benefits of leadership coaching are wide ranging, from personal development & professional insights to contributing to having an immediate quantifiable impact on organisational success. Here are some of the key benefits of corporate leadership coaching.
1. More open thinking
Leaders, especially at the top of the chain, can get quite set in their own way of thinking and executing, often ignoring different opinions or perspectives, more so if they come from their subordinates. In such a scenario, a leadership coach can work with the senior executive in a manner that stretches their cognitive abilities & opens up their mental capacities to be more inclusive and less narrow-minded, to consider ideas and viewpoints that may not necessarily be in tune with their own but that may align with organisational goals.
Leadership coaching can help leaders be more flexible and adaptive to out-of-the-box and creative thinking, helping them make more informed decisions when under pressure.
Once there is a trusting professional relationship between the coach and the client, the leadership coach can empower that client to be better versions of themselves, to speak up, and take constructive actions. The coach can help the executive uncover previously unknown skills as well as pinpoint weaknesses and reflect on ways to enhance those competencies as well as improve on the limitations.
The coaching sessions may also be insightful for the leader to better gauge their team resources, their skills as well as areas that need to be worked on, all of which can be beneficial in motivating team members as well as in resolving issues quickly.
3. Greater self-awareness & self-discipline
One of the most important areas that a leadership coach can help their client is bringing about more self-awareness and understanding of their own personal & professional situation, how they see their future goals, and the steps needed to achieve those objectives. Self-awareness for a leader is vital as it is the facilitator of growth. Basic comprehension of one’s talents and flaws is the first step towards embracing change, which can then lead to more progress.
Self-realisation can also bring about the ability to have a better grasp, control and discipline over emotions and thoughts, better time management & work-life balance, improve social skills & personal interactions that can ease handling of difficult professional situations.
For instance, a senior executive who has been working with an organisation for a long time is assigned a junior but a more tech savvy assistant. In this case it is natural for the senior member to feel insecure about their lack of latest tech skills and feel threatened by the new joinee. A leadership coach can help the executive navigate through these disturbing thoughts and realise their strength – which is their vast experience and understanding of the detailed working of the company.
4. Better communication
Effective leaders need to be good communicators. A leadership coach can help leaders improve their communication skills and get their point across in clear, crisp and precise manner. Not only does this help establish better connect with their team members of varying characters, skills and needs, it avoids misunderstandings and enhances the leader’s credibility and standing within the organisation.
5. Improved performance
One of the ways leadership coaching can make a substantial difference to an executive (and in turn to an organisation) is by identifying the core strengths and weaknesses of the individuals being coached.
Leaders who get coached can learn new leadership techniques that can help them focus on issues, brainstorm ways to overcome those challenges, set practical & measurable goals, develop better man-management skills, ensure that all stakeholders are in tune with set objectives to deliver successful outcomes, and more.
Leadership coaching can help foster innovation & collaboration within the team and encourage members to contribute collectively to a shared organisational goal.
6. Fresh insight, all round strategizing & analysis
Leadership coaching can help top leaders, who are used to doing things their way, to take a step back and reflect whether their vision is the best or if including concepts and views of others is more beneficial on the road to achieving targets.
A leadership coach can help a leader concentrate on matters of true importance by introducing some of the best management methods & techniques that will enable a 360°analysis of the issue and arrive at a more insightful solution that can work realistically.
A leadership coach can infuse newer thought processes, questions and a fresher take on difficult problems. This can lead to leaders looking beyond their tried and tested processes and employing new strategies that can inspire & motivate their teams to solve issues.
7. Inclusive, positive & motivated work culture
A company’s work environment is vital to employee satisfaction, their retention and ultimately to the organisation’s success or failure.
Leadership coaching can help leaders shape the culture in their company to one that is more inclusive, positive, is empathetic to differences in individuals, does not tolerate discrimination of any kind, and encourages equality of treatment & opportunity for all employees.
Coaches can help leaders establish and reinforce a working environment that appreciates hard work, talent, merit, encourages individual development and infuses a sense of belongingness in the employees.
8. Reduced employee attrition rate
Any leader, whether they are CEOs or junior team leads, will know the pain of losing an experienced and valuable team member and the difficulty in finding quick, equally talented replacements. Employee attrition is an expensive loss to the organisation and one of the main reasons why employees seek opportunities elsewhere is due to lack of career advancement opportunities.
Leadership coaching can provide leaders with newer tools & techniques that can help them develop valuable new skills and make them better managers. Coaches can help leaders build trust and communicate more honestly and openly with their team members, listen attentively to their aspirations and future ambitions, and nurture constructive working relationships that can open up more avenues of career development and promotion to help retain valuable employees.
9. Constructive feedback & empathy
Leadership coaches can help leaders be more empathetic, exercise greater discipline and self-control over their emotions and behaviours, as well as gain a deeper insight into character traits of their team members.
Coaches often give leaders their observations & feedback about individual performances and then assist them in devising improvement strategies. Leadership coaches encourage leaders to assess their team members by asking thorough questions, listening non-judgmentally and finally by providing frank but constructive & actionable feedback.
Leadership coaching can help leaders in devising mechanism to deliver feedback in a manner that helps their employees reach their potential and prosper.
To sum up, leadership coaching can help leaders become better communicators and more competent strategists that can help accelerate not just individual development but also benefit the entire organization by keeping it a step ahead of the competition.
- What is the role of coaching in corporate leadership?
The main role of corporate leadership coaching is to empower individuals in key positions to develop new skills, enhance their existing competencies, increase self-awareness, modify behaviours that are ineffective, improve their performance through goal setting, increase connect and communication with team members to identify potential future leaders, create a more inclusive work culture, improve all round performance and deliver transformative results that align with the organization’s goals.