Benefits of Executive Coaching from the Company’s Point of View
Organizations are constantly looking to enhance the potential of their employees. This quest has two aspects – first, to get the employee working to full potential and enjoy personal and professional growth and the second is to ensure that the organization is peopled with the right kinds of people, especially at the executive or senior level. One way of realizing this goal if you are in Washington is to go in for executive coaching Washington D.C. The “industry” if you can call it that of executive coaching has shown steady and significant growth in the recent past. A few years back, a Philadelphia based research company found out that 86% of the companies have used coaching to sharpen skills.
So what are the benefits of executive coaching? From building employee morale and strength to enhancing the business processes of an organization, there are some wide changes and benefits that the right kind of coaching can bring about.
Here are a few such benefits:
- Strengthening the employee’s potential – many an executive needs external intervention to realize his or her full potential. A qualified executive coach can be this external agent. Furthermore, the employee’s potential should be honed and matched to the organizational plans as well. For instance, if an organization has identified Ms. A as future marketing head, then executive coaching will be able to bring out the requirements of that role in her.
- Change management – sometimes an organization may want to manage a change in leadership. People in key strategic roles have to retire at some point of time and executive coaching can help identify, train and build the next line of leaders.
- Improving productivity – there is also no doubt that executive coaching can help enhance organizational and employee productivity. By helping enhance the performance of executives and leaders, the entire team can get galvanized too. This will, in turn, reflect on the morale, productivity and loyalty to the company. Employee retention is something that also improves with coaching. With coaching, the leaders can connect with all levels of employees in a way that gets everyone to perform cohesively.
- It is not a tool to remedy the ills of an organization – unlike the perception of training, executive coaching is a positive reinforcement tool. It is not brought in for increasing performance per se though that might be an indirect result of such coaching. With executive coaching, an individual becomes committed to his career and the organization in a greater way.
- The strategic point of view – every company needs strategy – whether it is in business or in employee and personnel policies and executive coaching can help in this requirement. Cush coaching is all about enhancing the strategic thought ability of the individual. So instead of thinking only about the near future and immediate business plans, a leader who has gone through executive coaching will be able to plan for the future as well. These plans will propel him to choose the right people and make the right decisions in all areas of management. This, of course, will result in longevity of the company in the market as well.