It has more than once been proved that executive coaching can measurably improve the performance and professional growth of senior executives in any business. Executive coaching is a fast growing business not only in the developed economies but also in the developing world. It has been a growing trend especially in the aftermath of global financial crisis, which is justly considered by many economists to be the worst financial crisis since the great depression of the 1930s; for the financial crisis of 2007-08 played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of US dollars and downturn in economic activity leading to the 2008-12 global recession and contributing to the European sovereign-debt crisis. The recent recession has already taken down major corporations and chains most of us thought would be sticking around forever. In this scenario, one way to protect and safeguard our companies from this kind of major system failure and ensure success against every odd is to hire services for executive coaching. And luckily there are no dearth of individuals, firms and educational institutions that are ready and willing to provide this much needed executive coaching; a must for sure success.
Hearteningly, executive coaching is no more a mere remedial effort aimed at some mediocre and under performers, but, a major thrust solely focused on developing high potential leaders, and accordingly they every business has a fair reason to invest their valuable time, energy and money for the purpose. It can be mentioned here that businesses across the globe have already been reaping the good dividends of taking the recourse to executive coaching, if we believe in what Marc Roudebush, CEO of Inspiring Workplace, who points to a recent global survey of coaching clients by PriceWaterhouseCoopers and the Association Resource center which concluded that mean ROI (Return On Investment) for companies investing in coaching was 7 times the initial investment, with over a quarter reporting an ROI of 10 to 49 times. He further vindicates his point against such large returns as, “When they are able to walk their talk, people listen and are likely to follow suit, improving the levels of enthusiasm, trust, and team effectiveness throughout a team or organization.”
As such, executive coaching can be defined as an executive development strategy that builds leadership and management strength which leverages existing strengths to help people become more successful in their current role and to the next level. There are times when it is necessary for a business to build certain skills, minimize, delegate or even outsource non-strengths of top level executives. Accordingly, we can see organizations specializing in strategic planning for other companies becoming a growing trend among all CEOs and executives with businesses. As a matter of fact, executive coaching is designed to provide business leaders with all of the tools and support in order to make sure that their businesses running to the best of their abilities. It is done by partnering with the coach’s experience, observations, and insights with current skill sets; and through this confidential and personalized learning process; executives are able to achieve success more quickly with superior and unfailing results. With this, executives can rest assured that they are joining a program that is bound to pay off, and they can become better leaders, make better decisions and see results that are clearly unambiguous, specific and measurable.
In this regard, it is stated that exchanging and sharing experience, knowledge, ideas and information with partners and other reputed counterparts can be the best way to keep any business not only running, but also relevant and successful. Executive coaching offers one of the best and surest business choices to steer ahead your company to the path of success and glory.