How and Why CEOs Should Be Leveraging Executive Coaching

The short answer to ‘why’ CEOs should leverage
executive coaching is simple: it is the clearest way to develop leadership
skills, to take a leader with potential and help to make them extraordinary. Also? It’s lonely at the top. Few people
will tell you where you are going wrong and even fewer will support you through
developing skills to change that path.

Or put another way: “Dare to cross the bridge between the leader you are and the leader you
have the potential to be.”
Sound familiar? It’s a tagline we favor because
it’s true.

“Two-thirds
of CEOs don’t receive any outside advice on their leadership skills, and yet
almost all would be receptive to suggestions from a coach.”

This from a Stanford University/The Miles Group survey of
200 CEOs. What’s interesting about the information gathered in the survey isn’t
so much why the CEOs need coaching, but how interested they were in it and how
they leveraged it.

Let’s go back a step, and look at the WHY:

Why CEOs need to leverage
executive coaching

“Given
how vitally important it is for the CEO to be getting the best possible
counsel, independent of their board, in order to maintain the health of the
corporation, it’s concerning that so many of them are ‘going it alone,’” says
Stephen Miles, CEO of The Miles Group. “Even the best-of-the-best CEOs have
their blind spots and can dramatically improve their performance with an
outside perspective weighing in.” (
Source)

Executive coaching helps leaders to:

  • Gain clarity
    on their goals and achieve them, with strategic thinking;
  • Become more
    self-aware, with a strong and authentic style;
  • Develop
    strength, resilience and presence.

There are four key areas where executive
coaching can really make a difference:

1. Communication is at the top

This isn’t just about making speeches and
getting people to do what you want them to do. Executive coaching helps
individuals to dig deep on their understanding of communication, including
developing active listening skills, nonverbal cues, credibility, respect and
authority in speech.

2. Perception is reality

If you learn how people perceive you and how
to expand upon the ways in which they do so positively, you can take those
perceptions and grow your presence.

3. Leadership style that works for you

Often leaders don’t realize that their
leadership style can actually be inhibiting them, and their team, from growing.
For example, leaders who tend to over-manage their team won’t be getting the
best performance that they would get if they learned to step back and allow
people to do what they do best. Executive coaching helps to hone in on the
traits that could be holding you back.

4. Develop your EI—emotional intelligence

More important that IQ, your EI is the basis
of how you relate to others. If you’re in tune with how people—including
yourself—use emotion, how you/they react in different situations and where you
can be helpful to manage these within the working relationship, you’re way
ahead!

Now let’s take a look a closer look at the
survey results to understand the HOW:

How CEOs leverage executive
coaching

Most leaders who have reached the C-suite are
aware of any shortcomings they might have in terms of leadership skills. For
many, the ascent to the top had a lot to do with technical ability in their
particular industry or business, and less to do with the inherent skills that
good leadership requires.

In fact, according to the survey: “78% of CEOs said it was their idea to
receive coaching.” (
Source) This despite a sense among some
organizations and their boards of directors that seeking coaching is a sign of
weakness in the C-suite. In reality, it’s anything but.

“In
general, where there is a relationship between coaching and getting to the top
is when an executive believes in continuous learning and development.” (
Source)

(Source)

And when CEOs did look for coaching, they were
usually looking for very specific skills development including, in the top 3:

  • Conflict
    management  – 42.9%
  • Listening
    skills – 32.1%
  • Sharing
    leadership / delegations skills – 35.7%

Another important point is that getting
executive coaching from a source outside of the organization is optimal. Like
anyone looking at their own work, it’s difficult to be objective. By bringing
in a coach from outside the existing organizational structure, the CEO is
guaranteed to find out about areas of need that they might not even have
realized they needed to look at. Furthermore, they can be guaranteed a ‘safe
place’ to work through issues of self-awareness, growth and understanding of
their role.

It’s clear WHY executive coaching is important
for those ascending to newer and higher roles, and HOW executives have been
shown to leverage it proves that they gain a tremendous amount of
self-awareness and understanding of their goals, styles and abilities, with a
view to improving all of them, to help them to explore all of their potential.

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