Executive coaching has been proven to be one of the most lucrative business endeavors to date. It is not surprising why up until now, it is still expanding and growing in popularity. You seldom see some people who are unable to grasp the value of executive coaching and why it has expanded rapidly in the previous years. A lot of people still have the misconception that it is some form of deceiving leadership development training effort. This is certainly not a fact through and through. Executive coaching has actually benefitted a lot of companies for a long time. To know the value of executive coaching for your business in this day and age, this is the article to read.
To find out what is the most effective strategy that could turn an employee into a leader, a study of one hundred top companies was done. For more than half of the respondents, they have stated that the use of external coaches has helped them. When a follow-up survey was done, it was determined that the importance of the use of external coaching has increased. There is no denying how much value external coaching has achieved.
There are a lot of reason why executive coaching is here to stay. If you look at companies in the past few years, you will see that they have become much leaner and flatter. This keeps leaders in strong association with their customers. These efforts are done to maintain costs and make sure that the company is still in a competitive position in the industry. From the point of the manager alone, they are able to receive direct reports ranging from ten to fifteen. Mentoring and coaching on the part of the manager seems hard to accomplish with the increase in demand that they get from doing their primary tasks. They do not have the time anymore to invest in coaching. That is why the use of executive coaching services always comes in handy.
When it comes to most if not all companies, they are too preoccupied with their busy tasks and their leaders are no doubt included in them. Because managers use handheld devices and the internet to do their job, they can never avoid paying attention to their job 24/7. With a steady stream of communication, managers put themselves in an available status all the time. This leaves the managers with not having enough time to do what needs to be done. This leaves managers that do not have the time anymore left on their part to do their executive coaching task. This is one of the reasons why executive coaching exists.
When it comes to executive coaching, any company in the business sector can truly benefit from it. You just have to make sure to choose the right company to give you such services as well.