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If Tiger Woods Needs a Coach, so do Executives
by OI Partners, Inc.
Corporate America frequently falls back on sports clichés to describe situations in the workplace.
Describing an executive as a "winner" or a secured contract as a "home run" is common corporate lingo. In today's volatile workplace, just as in the world of sports, it is easy to gauge a win or a loss. Executives must succeed quickly if they are to remain leaders of an entire organization. Let's consider Tiger Woods, easily the top golfer and perhaps the top athlete in the world. The criteria? He wins. The following question begs an answer: "If the No. 1 player in the world still relies on daily coaching, wouldn't executives in the business world benefit from applying the same principle?"
Why is it that executives are promoted, entrusted with running a company or a division, but are not given the same coaching advantages as athletes or performers?
Companies must be prepared to help valued executives succeed in our rapidly changing workplace. Business plans and strategies are created, but in many cases plans are not developed for the individuals charged with implementing them.
Today's executives need coaching for development more than ever. Cycle times, which once took years, now happen in months. New products are introduced. Expansions and cutbacks are announced on short notice. CEOs must deal with angry shareholders. Corporations must move quickly to remain profitable.
Coaching programs have diverse outcomes including:
- Executive development for "stars" companies hope to retain
- Making sure executives don't plateau
- Gaining competitive advantage
- Helping executives redefine roles
- Setting the stage for rapid, transformational change
A recent survey of chief executive officers clearly indicates that the need for executive-level coaching has never been greater. Thirty-two percent of these executives said that their own ability to manage or restructure their business could impede growth in the next year. This is in stark contrast to the mid-1990s, when only 10 percent felt that way. It's clear that coaching must be viewed as an expenditure that can impact return on investment in much the same way as sales training.
An executive coach should provide the following roles:
- Expertise in facilitating personal discovery
- Assistance to help the executive work through a specific problem
- Support for formulation and application of specific strategies
- Coaching for acquisition of specific competencies
In developing a coaching program, it is critical to define the coach's role and then determine a customized plan of action. For example, does the executive need:
- To learn a new skill?
- To perform better in the present job?
- To prepare for a future leadership role?
Additionally:
- Does the executive understand and acknowledge these needs?
- Is the executive willing to seek and accept coaching?
- Is the executive looking for a confidant?
With these issues determined, the coach and client embark on specific programs that can include:
Coaching for skills - This focuses on a specific task, such as making a presentation, preparing a business plan, etc.
Coaching for performance - This focuses on improving on the existing job and might involve developing systems to accurately evaluate employee performance.
Coaching for development - This concentrates on an individual's future job.
Coaching on a variety of topics - This program recognizes that executives can be lonely and frequently need insight, perspective and constructive feedback on both personal and business issues. It could also include developing specific leadership skills such as emotional intelligence.
The above points provide insight on the coaching process. However, prior to implementing a plan, companies need to understand the proactive nature of coaching.
The expectation is that executives are hired and retained to perform key roles, such as leading start-up, directing a new project initiative, raising capital and managing businesses that span the globe, to name a few.
The coaching applications proven most successful are:
- Tailoring leadership styles to meet diverse needs of different individuals and the factors that motivate them. Today's executives deal with downsizings, mergers and acquisitions, global shrinking, and the demands of increasing competition. Leaders must adapt their styles to new and emerging corporate cultures and a diverse workforce.
- Team building. Many executives targeted for promotion are unaccustomed to dealing with large groups of people and encouraging teamwork for projects. One critical step is instructing the executive on how to elicit input from team members. The executive's role would be that of a facilitator and reviewer of the results.
- Presentations and public speaking or media presentations are sometimes uncomfortable situations for executives. Understanding the accepted presentation style within an organization is critical.
Man corporations have discovered that the best talent often comes from within. And executive coaches are often the ideal professionals to tap a person's potential on behalf of the individual and the corporation.
About OI Partners
OI Partners is the talent management and leadership solutions firm that provides a better human experience for a better business outcome. Established in 1987, OI Partners Inc. is a corporation of leading career consulting, executive development, leadership development and outplacement professionals located in more than 180 locally-owned offices in 24 countries. For more information, please visit www.oipartners.net or call 800-232-5285.
Contact: Jill Van Nostran, 773-531-6968, jill@pro-prconsultant.com