What is Executive Coaching?

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Executive coaching is aimed at improving the performance of high-powered executives within an organization and is similar to sports coaching for high-performance athletes. The role of the coach is to expose blind spots and challenge the executive to achieve greater levels of success.

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Every day, hundreds of executives seek the support and council of independent third-party executive or leadership coaches - often referred to as thinking partners. Unlike middle managers or front-line staff, executives are in a unique position at the top of their organization.

 

Here at ExecXcell, we help both individuals

and corporations reach their maximum potential.

 

What Are The Benefits of Executive Coaching?

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Benefits Experienced by the Individual

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The benefits experienced by the executives vary depending on the focus of the coaching engagement. Some of the common benefits experienced by the individual include:

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• Enhanced strategic planning

• Presentation skills

• Executive management team building

• Leadership development

• Better communication with team members

• Increased confidence

• Better work-life balance

• Quicker decision making

• Better time-management

• Greater productivity

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Benefits Experienced by the Company

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The benefits of coaching depend on the type of organization and the desired outcome of the coaching. In the case of executive coaching, the company benefits if the executive’s performance is improved by more than the cost of the coaching PLUS any additional improvements experienced throughout the organization based on the executive’s performance.

Let us say for example, an executive earns $100,000 and the company invests $10,000 per year for their coaching. Can the coaching improve the executive’s performance by 10%, an amount equal to the investment? And what is the multiple effect? If the executive manages 10 people, how much of their performance is affected by the executive coaching? Ideally, there will be benefits throughout the organization and the return on investment will be much greater than 100%.

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According to the International Coach Federation Global Coaching Study performed in 2009, the median company return was reported to be 700% with almost one fifth of respondents reporting an ROI of at least 50 times (5000%) the initial investment.

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There are various ways to calculate the benefits of executive coaching, such as 360 reviews, climate surveys, customer surveys and surveys of sales, costs, employee turnover and other business results.

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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 wider-ranging impact than, or may actually lead to, the more tangible benefits of coaching.

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Here are some examples of tangible benefits from coaching:

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• 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