There is a lot of debate and conversation surrounding the question of what makes an effective executive. Executives are deeply knowledgeable about all aspects of their business, they work to create value and deliver results. They are subject matter experts, know their industry thoroughly and make difficult business decisions on a regular basis. On top of this, executives need to form trusting relationships with people both inside and outside of their organization. This is a lot of responsibility for one person to take on, and with so few people to shoulder the burden, it’s understandable why so many CEOs feel lonely, overwhelmed, and isolated.
It can certainly be lonely at C-suite, but nobody should get to such a position that they can’t ask for help and guidance. This is why one source has declared that the smartest business move an executive can ever make is to hire an executive coach. In fact, a number of COOs and CEOs have come forward to discuss their use of executive coaches, explaining the advantages it has offered them.
But are executive coaches really worth the money? What benefits do they offer and how can your day-to-day work and home life improve as a result?
An executive coach can help you adjust to a promotion
Receiving a promotion is always good news, but such a huge change can prompt a great deal of problems and uncertainty. In fact, according to Fast Company, a promotion can even be more stressful than a divorce. With a big promotion, your identity, role, and purpose suddenly changes, which can lead to burnout and failure if not managed properly. An executive coach will have experience in this area, and will be a source of comfort and guidance during this exciting and turbulent time.
An executive coach acts as a sounding board
As an executive, you might often find yourself in need of an objective third-party in order to discuss business decisions. An executive coach can give you a fresh perspective or simply act as a sounding board, all the while respecting the necessary levels of confidentiality. This will help to ease the isolation often felt by those at the C-Suite level, and it will give you confidence in your decisions going forward.
An executive coach can give you feedback on your strengths and weaknesses
Any good executive is aware that the quest for self-improvement is never over. This is why successful people devour self-help books; there is always a weakness to work on, or a strength to further improve upon.
Coaching and mentoring can help you improve your levels of self-awareness, so that you will be better able to highlight, and then address, your own drawbacks. Such dedication to development and learning will not only improve you and your work life; it’ll also improve your business overall.
An executive coach gives you someone to answer to
If you’re at the top rung of an organization, other than your shareholders you you might not have anyone to answer to. You might set yourself goals and objectives, but who is there to ensure you stick to them? This might not be a problem if you have unwavering self-discipline, but if you need someone to help keep you in check, a coach will be happy to do so. They will support you so that you can progress and advance in all the ways that are important to you.
An executive coach can help you with your communication
You have advanced to the highest rungs of your organization, you know your business through and through, but are you letting yourself down in terms of communication? Unfortunately, this is the downfall of many executives around the world, with one study confirming that 91% of employees say that communication is a major issue for executives. Enhancing your communication skills can lead to better employee relations, improved productivity, and increased engagement. A coach can emphasize the importance of great communication and help you become more effective in this area.
Remember: there is no shame in asking for help. From time to time, even leaders require some management advice. However, it would be unwise to select an executive coach at random. Be cautious and careful about who you decide to trust, and take the time to find a professional who you feel is best suited to assist you in going from good to great.