A good number of Chief Executive Officers (CEOs) don’t receive outside coaching on their management and leadership abilities. The corporate world still considers coaching to be a remedial activity rather than a way of enhancing one’s performance and productivity. With the pressures existing in today’s corporate sector, it is vital for top executives to receive outside guidance and mentorship. There is never an end to learning, and growth never stops. Here are some of the reasons why corporate coaching is necessary in today’s vast and dynamic corporate world.
Enhance Performance
As previously mentioned, learning and growing never end. It is important for CEOs to get outside coaching once in a while. The dynamic nature of today’s corporate world requires that you keep yourself informed of new developments. You may be performing well in your position, but new changes can quickly render you redundant if you fail to keep up. As a CEO, getting outside reflections enables you to stay a step ahead of the rest.
Get Time to Think
As a CEO, you barely have time to sit back and reflect. You are always on your toes working hard to ensure your organization stays afloat. As a leader, everyone in your organization will be trusting in you to provide guidance and leadership. This responsibility will no doubt take a toll on you, thus the need to take some time off and reflect. A coaching experience can provide exactly this opportunity and even challenge your existing knowledge and ideas. Great CEOs in some of the world’s most successful organizations have always had coaches to push them on.
Maintain Healthy Work-life Balance
As mentioned earlier, leading an organization is extremely demanding. As a CEO, you are always on the receiving end of whatever happens to the organization. You have to ensure good employee working relationships, as you also focus on your clients and family. Juggling all these responsibilities goes beyond a normal 8-to-5 job. A coach will not only assist you in keeping a level mind in your working environment, but will help you to manage a good work-life balance. At the end of the day, you are also a human being who needs to have time with your family away from the pressure of your position.
Improved Decision-making
As a CEO, you are required to make the most important decisions and delegate the minor ones to your junior associates. This responsibility requires a clear mind and up-to-date information. Trying to handle everything alone can quickly lead to burnout. A coach doesn’t come in as a guide; he or she comes in as a professional to keep you updated with the current developments and give you new perspectives that can enable you to make informed decisions.
Improved Success Rate
About two out of five CEOs fail within the first 18 months of being at the top position. Research shows that this failure is not due to incompetence or lack of knowledge, but due to ego and unwillingness to keep learning. CEOs who see the need for getting coached and have actually worked with coaches have a greater success rate than those who don’t.
