Corporations around the world are under constant pressure! There is the normal pressure to produce profits. There is the pressure to be socially conscious and good citizens of their communities. There are also the political issues that wash in like a tidal wave such as what Facebook and other technology companies in the United States are experiencing where politics and regulations exert a substantial amount of pressure on business leaders. Add to this the ever-changing social fabric of society and movements such as “#MeToo” and the fact that for the first time ever, according to generational expert, Anna Liotta, we have five generations in the work force and it becomes clear corporations have more than just their business to worry about. There are innumerable forces that can consume corporations and divert their eye off the targeted goal they have established for their business. How should corporations respond?
A growing number of corporations have responded by providing senior leaders access to professional coaching. Coaching is a powerful way to assist corporations and their leaders in dealing with the demands of today’s work environment. Coaching uniquely assists leaders in ways traditional training and mentoring cannot.
Executive coaches provide a forum for senior leaders to explore threats to their own personal and professional goals and that of their corporation. Additionally, executive coaches challenge their client’s view of reality and their own belief system and hold them accountable for creating and following through on goals.
In recent years, coaching has been pushed beyond the executive ranks. Increasingly corporations are offering executive coaching to emerging leaders. In other cases, professional leadership coaches are engaged to reach an even greater audience in corporations to build a solid leadership bench and broaden the leadership capacity of the organization as a whole. In fact, according to John H Zenger and Kathleen Stinnett, today, “over 70% of large corporations in Western Europe, North America and Australia use coaching as a major form of management and leadership development.”
Coaching has become so important to corporations that many have started formally building a coaching culture in their organization. This takes on many facets. In some organizations they build a coaching cadre of external coaches to deliver an established program to leaders they identify.
For example, a leading United States corporation offers an executive coach to all newly hired and newly promoted senior leaders (identified as holding a Director title or higher) in addition to offering this service to existing senior leaders. These senior leaders are coached by top external coaches who are certified credentialed coaches through the International Coach Federation (ICF).
Another leading United States Corporation who has chosen to build a coaching culture, sends it managers through the Coaching Certificate program offered by the Association for Talent Development (ATD). They recognize they don’t want all their key human resource employees to become full-time, credentialed coaches. Rather they want them to be trained in the art and science of coaching to build a coaching culture where every manager is a coach first and a manager second. The ATD program has proven to be a superb resource in this regard.
When managers become more skilled as coaches the entire organization benefits. One reason is because if a manager properly coaches an employee they then build new competency and capacity in the employee that positions them for future success. By building the employee up in this way, it contributes to great employee satisfaction and increases retention. With retention increased the company improves its fiscal bottom line as there are less resources lost on the attraction and selection cycle for a new employee. Additionally, the often-unmeasured cost of lost institutional knowledge is retained and further disseminated within the corporation.
Corporations interested in a strong tool to increase retention, provide a powerful employee incentive, and produce a strong competitive edge are wise to consider the advantages of creating a coaching culture. Coaching makes a difference. Coaching matters to corporations!
About Eddie Turner
The Leadership Excelerator™
Eddie Turner LLC
Eddie Turner, The Leadership Excelerator™, has worked for several of the world’s “most admired companies.” He is passionate about working with leaders to “Accelerate Performance and Drive Impact!”™ through the power of coaching, facilitation and speaking. Eddie is a C-Suite Network Advisor, a professional speaker and a national media commentator who holds international certifications as a trainer, facilitator and coach.
Eddie is also the author of the book “140 Simple Messages To Guide Emerging Leaders”, which spent 10 days in the Top 100 Paid Best-Selling books in the Business Coaching & Mentoring category on Amazon.com! It peaked at #26. Get your copy. The 90-minute audiobook versions are also available on Audible and Libro.fm.
Coming in 2019…
Look for Eddie’s follow up book: “Facilitated Collaboration: How to use Leadership, Facilitation and Influence to Change Everything” in 2019!