If you’re a CEO struggling to take your business to new levels or just can’t identify what to do next in your role, Executive Coaching could transform your company and goals. Coaching is no longer a “nice to have” service but a necessity to empower leaders and their teams. The effects are powerful and trickle down to your team to improve areas like morale and productivity.
The ROI compared to your investment is also eye-opening. A Metrix Global study found that executive coaching had a 788% ROI thanks to increases in areas like productivity and employee satisfaction. With the right approach, you could end up scaling your business with less interruption and resources with the help of an experienced C-Level Coach.
Ready to explore the next steps? Here’s what to know about Executive Coaching for the CEO and how it benefits your team.
Distributes Company-Wide Values Quickly
Your company’s culture and foundational success needs cohesive, company-wide values. But if your team isn’t aligned with those values, doesn’t see them in action, or considers them business jargon, they’re unlikely to practice them.
Executive Coaching helps define or reevaluate your company’s existing core values. You may discover that “determination” was once a highly regarded value, but you recognize it’s outdated or the wrong fit today. Instead, your C-Level Coach may identify that ingenuity, accountability, and commitment to customers are a better fit for the company’s long-term goals.
Regardless of your core values, they need to be identified, clarified, and instilled from the top down. Your C-Level Coach may also make recommendations for how to encourage more conversation around those core values. Recognizing employees who emulate them and holding your executive team accountable to those values are a few effective ways to lead.
Creates Operational Realignment
In today’s ever-growing remote workplace, it’s more important than ever to break down the silo mentality of organizations. Long-standing businesses also experience challenges breaking down their existing silos, even if everyone already works in the office. At some point, operational realignment is probably inevitable for your company to reach its fullest potential.
Collaboration is still essential for companies and requires horizontal teamwork to effect change and meet goals. With few exceptions, a company can’t efficiently scale when departments work independently with little understanding of how their work impacts other areas of your business. It’s also not uncommon to see departments hold onto valuable information and work in their own microcosm instead of sharing those insights.
Executive Coaching helps your CEO identify existing and mental silos within your company. Depending on the issue, your Coach may help guide you through the process of identify gaps, the need for more collaborative tools, and creating more opportunities to socialize in the workplace. In some cases, your management team may decide to encourage remote work if problematic silos exist across geographic locations. Your team might benefit from working remotely with colleagues who live across the country and work in similar departments or projects.
Improves Company Culture
Work culture is more than a trendy buzzword; it’s part of how we work together as human beings and rooted in your business values and goals. When your work culture suffers, so does your company’s bottom line and future. It also directly impacts your ability to retain employees. Are your employees quitting without jobs? Are the complaints tricking in on sites like Glassdoor? The issue may have less to do with salary and more to do with a weak or even toxic work culture.
Once a work culture takes shape, it’s not always easy to change it without seeing lots of turnover and disruption. Executive Coaching helps improve how you interact with your employees and the expectations set for communicating with one another. You can also use the coaching and leadership skills you learned to help spark radical organizational transformation.
Treating failure as a dealbreaker or opportunity to vent frustration leads to a poor working environment and demotivated employees. But even if you’re indifferent to it or open to embracing it as doing better next time, you’re missing out on the opportunity to use it as a strength in your company.
Coaching helps CEOs and their team redefine what failure means in the workplace. Each failure is an opportunity to rethink your goals and strategy, analyze your data, and talk through actions to correct any issues. Instead of blaming others for the failure or ignoring it after a blow-up, you can leverage it to strengthen your next project or task.
Over time, each failure lends itself to a strong, capable, and productive company in which people feel valued for their contribution. Instead of being blamed or dreading going to work, they face the issue head-on, find viable solutions or learning opportunities, and see the results firsthand.
Promotes Confidence and Self-Efficacy
Confidence without self-efficacy isn’t always productive. After all, you must fully believe you have the skills and leadership ability to guide your team to success. The results trickle down to your team as you assign and encourage tasks that may fall outside their comfort zone.
C-Level Coaching works on changing your mindset to step into the role of leader and redefine what you and your team are capable of. Our coaches are trained and specialize in specific industries to help address your needs, shatter plateaus, and redefine your company culture.
Remember that Executive Coaching isn’t anecdotal. It’s a hands-on, action-oriented process that leads to faster change. You’re focusing on an issue, finding solutions, and enacting change within specific timetables and parameters. Executive coaches can also help you evaluate your progress and the company’s progress, which in turn creates momentum with your confidence and self-efficacy. There’s no ambiguity as to what’s happening within your company. You’re gathering the tools and skills to measure those changes and set new goals as needed.
Stimulates an Entrepreneurial Mindset
Does your C-level team and employees have an entrepreneurial mindset or are they focused on a list of tasks? Entrepreneurialism extends beyond starting a business or launching an idea. It’s about strategic thinking and considering their actions today and their long-term goals and mindset.
When CEOs adopt a more entrepreneurial mindset, they foster a learning environment and take calculated risks. They may navigate with experience, insights, and instinct to develop new and innovative ideas. CEOs also enjoy the benefits of an entrepreneurial mindset, including honing self-confidence, inner drive, and enthusiasm. As a result, teams become more entrepreneurial by example and learn to adapt faster to new situations and projects.
Increases Company Morale
One of the most impactful ways to use Executive Coaching is to raise team morale. Morale impacts everything from productivity to profit. With Executive Coaching, you learn to ask for feedback and use it while encouraging more growth and development in your team. The problem is widespread, with Gallup showing that just one-third of employees are engaged in their workplace.
There’s no time to waste when it comes to poor morale. To start, you can work to improve the situation by encouraging more communication and accountability in your team environment. Executive Coaching helps you identify workplace morale issues, their root causes, and where it most impacts your business.
Executive Coaching is so much more than a leadership tool; it can impact your entire company from the top down for growth and transformation change. If you’re ready to get the support you need for yourself or your C-level executives and management teams, we can help. John Joseph Partners allows companies and executives to grow to their full potential as your trusted Executive Search Firm. Contact us today for more information.