The Value of Executive Coaching

One of the most important aspects of being a successful leader is knowing what you don’t know…which compels you to seek advice from others to aid you in your leadership journey. Closely related to seeking counsel from others is being coachable. Many leaders are very good at a lot of things, but all leaders have areas in which they can improve, hence, their need for coaching. Whether for a CEO, the entire C-Suite, or an aspiring leader, executive coaching can become an asset to any organization because it can lead to vast improvements in important leadership skills.

There are a few aspects to consider in deciding whether executive coaching would benefit people in your organization. The most important thing to consider is whether the member(s) of your leadership team are coachable. Executive coaching will only work if the person being coached is willing and able to be coached. Be on the lookout for these characteristics of un-coachable people: having a fixed mindset, being forced into coaching, and lacking trust and openness. If the person you are targeting for executive coaching displays any of these characteristics, coaching is likely to be unsuccessful. And if a person cannot be coached successfully, maybe you should reconsider if that person is a good fit for a leadership position.

Executive coaching can be very beneficial to those being coached. Coaching usually focuses on feedback, insight and accountability, content, and development. With the help of an executive coach, leaders can discover their areas of weakness and develop ways to improve those areas. At the end of the day, the purpose of coaching is to increase work performance, enhance leadership potential, and accelerate the development of successful performers. In fact, some studies have shown an average ROI in the range of 5 to 7 times the cost of coaching. If you think executive coaching is right for your organization, it can be a very valuable tool, once you ensure it is deployed to the right members.

Peterson, D. B. (2011). Executive coaching: A critical review and recommendations for advancing the practice. In S. Zedeck (Ed.), APA handbook of industrial and organizational psychology, Vol. 2. Selecting and developing members for the organization (pp. 527–566). American Psychological Association.