The Benefits of Executive Coaching
The benefits of receiving executive coaching overwhelmingly outweigh the cost! | By Sabrina Thomas | December 10, 2019
If you are new to McCarley International, and our website, you may be asking yourself, “What actually is executive coaching?” You may also be asking yourself if it is right for you and your company and what benefits will come as a result of investing in it. Executive coaching is a long-term investment in the senior managers of a business or organization.
Executive coaching is defined as “a professional relationship between a trained coach and a client (who may be an individual or a group) with the goal to enhance the client's leadership or management performance and development.” Executive coaching can be set by your own terms, rules, and regulations, with the end goal of becoming a better all-around organization.
At McCarley International, our top priority is to guide and coach executives and business owners through day-to- day operational issues, especially through significant transition periods in the company. There are a wide range of coaching services offered, meaning that each engagement is completely customizable to tend to your needs. We realize that each company is not the same, so we will never give you the same coaching and advice. You can read more on our coaching here.
Receiving executive coaching can be highly rewarding for a company, but there is a stigma that comes with it, which leads executives to think twice about investing. The myth is that executives only receive coaching because there is an ongoing problem within the company that needs to be fixed, and if executives invest, it gives companies a bad reputation for having “deep-rooted issues”.
This is not true at all, and is only a myth, for executive coaching is most times utilized before any problems can arise. In fact, according to this Hay Group study, 21-40% utilize executive coaching, and it was used as standard leadership development for elite executives and talented up-and-comers. Not to mention all the benefits that this study found, including productivity (reported by 53% of executives), quality (48%), organizational strength (48%), customer service (39%), and more
Of the many benefits of executive coaching there are seven that stand out, according to blogger Ryan Bonnici:
1. Heightened Self-Awareness
According to Bonnici, “self-awareness is the catalyst by which growth occurs.” Executive coaching gives us the tools to be emotionally intelligent, leading us to be able to regulate our own feelings, as well as help others with theirs.
2. Improved Self-Regulation
Coaching helps you be able to self-manage, both in your professional-life and home-life. Both are incredibly important to retaining relationships and respecting one another.
3. Higher Levels of Empathy
Empathy is a powerful tonic that soothes the soul of the receiver. A coaching benefit is being able to be empathetic, which makes us seem more open and approachable to all of our colleagues. After all, great leaders are always empathetic.
4. Boost in Cognition at Work
“When your mind broadens in one area, the tendency is for expansion overflow in other areas.” Boosting cognition will help us see situations through our colleagues’ eyes, and open us up to solving issues that deal with more than just ourselves.
5. Increased Level of Motivation
Coaching can help us all strike that motivation we sometimes tend to lose in the workplace. We are able to reflect, and understand why we work for our respected companies in the first place, which we can often forget.
6. Better Social Skills
“Social skills make up the fabric of successful relationships, whether it’s in the workplace or elsewhere.” No matter what, we need to have some form of social skills in order to be successful. Our goals are accomplished through teamwork, leadership, and negotiation, all things that are impossible without social skills.
7. Improved Leadership Abilities
Finally, coaching can help us unlock the leadership potential that is within us. Whether it is just below the surface, or deep, deep down, we all have the ability to lead in some way, making our companies successful.
The best thing about these benefits is that they are intertwined and work together; we cannot have one of these benefits without the other. Through executive coaching, we are constantly working to achieve each of these benefits.
McCarley International has helped numerous companies reach their fullest potential through executive coaching. Whether there was an issue before, after, or in the midst of assistance, executives leave feeling confident and ready to lead their companies to a bright future of success. With McCarley International, you can receive these benefits and more, because the benefits are endless.