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Executive Coaching is a growing market.  The value of the sector was predicted to rise to $11.6bn in 2021, according to Ibis World.[i]  Such business investment in your key talent is a means of achieving competitive advantage.

 As David B Peterson said in the Harvard Business Review article by Diane Coutu and Carol Kauffman in 2009,  “Coaching is a popular and potent solution for encouraging top performance from an organisation’s most critical talent.”[ii]

Here at  Space2BE, we observe that the intervening years have made coaching even more essential for managers, leaders, and executives.  Those turning to our one-to-one executive coaching programme have developed, or are developing, the capabilities expected of high-potential performers.  Coaching is the difference between mastering increasingly complex scenarios within business and not understanding how to lead, manage or drive towards profitability and optimal performance.

The Financial Times has said executive coaching is the equivalent of the training an athlete requires, if they wish to be a top performer.[iii] It’s about having someone challenge you at every step.  It should be a meeting of equals and of cerebral capacities.  It is a hugely pragmatic and ‘essential’ tool for businesses to deploy, not a ‘nice to have’ or ‘desirable’ one.

As the former Google CEO, Eric Schmidt, has said, it delivers necessary insight.  This is because, “the one thing people are never good at is seeing themselves as others see them.”

So, what’s changed to trigger the need for this support?  In short, this comes down to two factors; firstly, the business environment is increasingly complex and demands new (or focused) ways of doing business, thinking, being and executing in line with an up-to-date team and business strategy; and secondly, command-and-control management is dead requiring leaders and managers to look inwards, reassess their impact and build flexible ways of motivating, empowering, and leading their teams.

Executive and leadership coaching can work with those needing to ‘be better’ than they currently are.  However, those who are already delivering a superb performance would also  benefit from confidential support and challenge as part of their resilience toolkit, to help them continue to fulfil their potential.

“It’s lonely at the top so you better know why you’re there”  (John C Maxwell)

In an unregulated sector, it is vital, however, to find the right executive coach – with real credentials and relevant experience.  If you are a potential buyer of these services, it can be a minefield… Space2BE offer ‘non obligation’ 30-minute conversations to help you explore what type / level of coaches you require and give you some pointers as to what you should ask for and where you might look to find them. We are also ‘Supervisors’ of Executive Coaches so we understand the spectrum of offerings well.  Book here.

The other thing to ensure is that the person receiving the executive coaching has an open mind and a willingness to ‘grow’, in a business and personal sense.  If they are entirely resistant, progress against perceived goals will be limited at best, until the resistance is overcome… in this situation we would recommend naming the resistance first so that it can be worked on as the first coaching goal.

In short, providing executive coaching is something all leaders, businesses and organisations can benefit from and here are seven reasons as to why:

1) Self-awareness.  How often is a senior leader made aware of his / her impact on their team and colleagues?  A good Executive Coach will form a trusted relationship so they can ‘hold the mirror up’ and help leaders see and explore their blind spots.  Light-bulb moments are often a blessed relief for senior colleagues plus enhanced self-awareness is consistently associated with enhanced organisational performance and efficiency.  Leaders who exhibit self-awareness tend to inspire their teams more.  A robust programme will enable leaders to satisfy their curiosity about themselves, develop clarity on core strengths and explore, confidentially and safely, their shadow side.

2) New responses to challenges.  Executive coaching can equip your key talent with new skills, approaches, and attitudes, building capacity for challenging ‘edge pushing’ work.  As the saying goes, ‘what got you here, might not get you there’.

3) Pandemic strategizing. Our post-pandemic world is requiring leaders to be agile and adaptive.  How is this achieved?  An informed, skilled external pair of eyes, will be able to co-create an updated ‘you’ so that you continuously evolve in a helpful way.

4) Better team analysis.  With the help of a ‘neutral’ executive coach, you can better evaluate those around you, truly picking up on the value or lack of value which others contribute to the organisation and receive the appropriate challenge and input to equip you to build a high performing team.

5) Goal achievement.  With an executive coach’s help, even stretching goals can be attained.  A reassessment of tactics, a honing of skills and honest conversations about what might be getting in the way and deep relational support, to change this reality, are all ingredients you might expect.

6) Relationship-building.  An executive coach can help you forge more productive, healthier and performance enhancing relationships.   A plethora of approaches can be chosen to support this journey.

Why not join the ranks of some of our most valued successful clients and receive the right support for your most important talent now?   We provide coaching faculties that work across all levels of your business, including the Board.   Behind the scenes these faculties work as a team to familiarise themselves with your business culture and the intended purpose of the executive coaching support.  This ensures a seamless introduction, supported throughout with group supervision.

Enquire about Space2BE’s C-suite and leadership executive coaching programmes today, by calling 0208 720 6991, emailing connect@space2be.co  or booking your introductory chat here.

 

Be supported by some of the market’s best executive coaches who are already supporting some of industry’s top talent. 

[i] https://uk.newschant.com/business/online-job-coaches-are-exploiting-the-unemployed-during-the-epidemic-work-and-career/

[ii] https://hbr.org/2009/01/what-can-coaches-do-for-you

[iii] https://www.ft.com/content/9920eb52-1b7e-11ea-97df-cc63de1d73f4  (https://docplayer.net/187589265-New-year-new-you-the-boom-in-executive-coaching.html)