How does an executive coach help develop individuals to become great leaders? This is a question we often hear from people who have never used or heard of this type of coaching. So let’s take a look at a few of the answers.
First off, it’s important to realize that being competent in ones own field of expertise isn’t the only skill needed for a person to become a successful leader. A person also requires leadership skills. However, schools and master’s programs seldom offer to teach these skills. Therefore, a good executive or business coach is needed to develop and strengthen effective and highly competent leaders.
Companies are starting to recognize the shortage of good leaders for the future. And realizing that coaching can be a powerful option for turning their better employees and managers into leaders who can face today’s demands of our ever changing world. Learning about coaching and how it can help to hone functional skills can be ones primary step to achieve success as a leader.
The Coaching Process Defined
A coach is a skilled professional who develops an ongoing relationship with the client and concentrates on assisting that person to act upon the achievement of their desired goal. They can be viewed as a mentor, guide, manager, and even personal trainer. To help the client realize their true potential, an efficient mentor draws out answers from the student and doesn’t just provide the answers for them.
Now, this is all true for any coach but when it comes to a business coach the goals are focused on the leadership development skills the client needs in order to become an effective leader. The coach guides the individual toward positive and lasting behavioral changes fit for a competent leader. And towards reaching better results not only in their own work but the work of those employed under them as well.
The entire process is focused on improving performance and behavior. Its essential features are short-term; time limited, paid for, goal specific and action oriented all geared towards a busy business professional. It uses assessment surveys, feedback and also offers objectivity.
Reason to Engage in the Process
With today’s highly competitive society, it’s necessary to strengthen your core competencies and leadership abilities. For some, it may be a means to enter a new company while others utilize it to advance to a higher paying position. The business coach working directly for an organization is used to develop high potential employees and facilitate transitions of employees into new positions.
Also, seeking the assistance of a coach can help improve time management and work balance as one is taught to better manage pressures from work. The development of more productive work relationships and enhanced conflict management skills are also addressed along with encouragement to implement new strategies or directions.
Considering the Cost
The cost for an executive or business coach depends on the person’s level of expertise and experience. Reports show that the rates range from $300-$3,500 per hour. When considering the cost, think about the cost of having weak leaders as compared to the profit of having strong leaders and you will realize the difference is priceless.