What Is Leadership Coaching?
Leadership coaching improves the effectiveness of anyone in a leadership position.
Leadership coaching is the most effective form of professional development for people in leadership positions. Leadership coaching focuses on improving a person’s effectiveness in addressing their specific challenges and opportunities arising within the current work environment. Furthermore, coaching occurs regularly, usually every other week, until a client’s specific goals are achieved. This embedded approach allows a person to incorporate new behavior, perspectives, and insights from coaching over time and adjust coaching goals as they evolve and their needs change.
Benefits of Leadership Coaching
Leadership coaching provides leaders with individual attention, support, and feedback regularly and aims to help a person who is already performing well do even better. Regular sessions with a leadership coach provide a confidential, supportive setting for exploring how to move forward in achieving a leader’s coaching goals, as well as sorting through how to best respond to emergent opportunities and challenges.
A typical coaching session ends with an agreement about what next steps the leader will take before the following coaching session. Then the following coaching session begins with a review of the last session’s next steps. In this way, leadership coaching also provides a framework of accountability for a busy leader to ensure there is timely follow-through on completing specific actions.
ROI on Leadership Coaching
According to the 2009 International Coach Federation Global Coaching Study, the median company return was 700%, with almost one-fifth of respondents reporting an ROI of at least 50 times (5000%) the initial investment.
There are various ways to calculate executive coaching benefits, such as 360 reviews, climate surveys, customer surveys, and surveys of sales, costs, employee turnover, and other business results.
Of course, some results are more “tangible” than others and are easier to translate into a monetary value or bottom-line impact. Of course, that doesn’t mean that the tangible benefits outweigh the intangible in terms of importance. In fact, intangible changes in the client’s behavior can often have a wide-ranging impact than, or may actually lead to, the more tangible benefits of coaching.
Here are some examples of tangible benefits from leadership coaching
- Increased sales
- More customers called on
- More new accounts opened.
- Decreased costs
- Decreased employee turnover
- Decreased absenteeism
- Shorter time to market
- Improved productivity
- Fewer customer/employee complaints