Executive coaching fills leadership gaps

From the mid-2000s and continuing today, executive coaching has evolved into a $1.5 billion industry and a needed resource for C-suite executives and senior leaders. Because these leaders are key contributors in executing strategic goals and delivering impactful business results, they are more willing than ever to do what it takes to be successful.

There are many reasons executives seek out coaches, but most of the reasons focus on implementing change in their organization. According to Ed Bohlke, founder of Deserve Level Coaching, the top reasons he has seen executives seek out coaches are to deal with a crisis, seek a different viewpoint, or grow leadership, decision-making, and communication skills. "If by working with a coach, senior leaders can find any blind spots (in their leadership) they didn't know existed and develop a new level of leadership, it can alter the trajectory of the company."

Commitments for executive coaching sessions require both time and money. With the median coaching session costing $500/hour and most programs lasting at minimum three months, serious consideration is needed by both the executive and the organization. The coaching should be viewed as not only an investment in the leader, but in the organization as a whole. Michaelene George, an executive coach with 25 years coaching experience asks two questions when senior leaders and organizations are determining the potential return on investment (ROI) for the cost of the coaching. She asks "What will happen if you don't do anything?" and "What is the cost if change does not occur?" She further asks leaders to consider what adding new behaviors could mean to their leadership ability.

Because of the variety of approaches offered by executive coaches, it is imperative senior leaders are committed and willing to actively participate in finding a coach that will meet their needs. Finding the right executive coach is key to getting the biggest ROI. The leader will often go through an initial assessment to determine if there is a chemistry between coach and coachee. "I offer an exploratory session at no fee where the leader and I interview each other," Grace Lichtenstein, executive coach and psychotherapist explains. In her work, Lichtenstein has found the number one predictor of success between a coach and executive is how well they work together.

Executive coaches work with senior leaders to set goals that target transformational needs. According to Lichtenstein, some goals are unique to execs because their biggest asset may also be their biggest deficit. Goals may also focus on these leaders' need for confirmation that the actions they are taking are "right." The expression "It's lonely at the top" articulates this need for affirmation. Bohlke found during his many years as an executive coach that senior leaders think they are doing things beneficial to the organization, but often seek the perspective of someone else to confirm this and expand their base of leadership techniques. Through coaching, senior leaders add reflection and better judgment to their tool kit.

Asking about a coach's success stories is important to justifying the cost. One of the coaching success stories George has seen involved working with an executive to shift his behavior away from managing the sales team to taking a statesmanlike approach. This shift in the executive's actions resulted in retaining several million dollars of revenue that would have otherwise be lost. Another success story involved coaching a group of top executives on implementing strategic direction and public relations for a successful IPO launch.

The decision to embark on an executive coach program is one that requires budget-setting, a time availability study, and coach methodology research. The rewards of executive coaching include having a senior leader who is self-aware, strategically focused, and can maximize personal contribution to meet the needs of the organization. As one senior leader put it, executive coaching is a blend of therapy, a boardroom discussion, and an intense behavioral and physical workout.

• Christine Johnson, SHRM-SCP, SPHR is a human resources and business professional who owns Cued Forward, a leaning and development company that connects organizations with learning experiences and resources. Contact her at christine@cuedforward.com.