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What is executive leadership coaching?
What is executive leadership coaching?
Coaching has been around for thousands of years. Athletes in ancient Greece had coaches for their Olympic events. This tradition continues today in all sporting disciplines and has found it way into all areas of our lives. We specialize in executive leadership coaching which is intended to support senior executives in medium to large organizations to strengthen their leadership abilities, achieve improved performance and exceed their personal and corporate goals. Executive leadership coaching has its roots in many fields - leadership development, clinical psychology, organizational development, peak performance training, and human resources. We believe that an effective executive leadership coach can assist their client to understand their unique gifts, exploit their strengths and maneuver around their weaknesses by making more informed choices. We are focused on seeking greater personal satisfaction for our clients by challenging them to exceed their business goals and fulfill their dreams – at the same time. Our approach is personalized, thorough and by asking the right questions, our clients find the right answers.
Are there other types of coaching available?
There are business, personal, career, life, sports and spiritual coaches. Each is a niche that attracts coach practitioners based upon their experiences, training and interest. Although we invariably assist our clients with career issues, our primary focus centers on helping senior executives to get better results through better leadership in their current role. Our coaches have many years of leadership experience and success in several different types of organizations and industries.
There are three areas where coaching can make a specific contribution: Developmental: Coaching clients in their current role. Few companies have continued to support a planned and consistent approach to the development of senior executives. Not all bosses you have worked for are natural mentors, so you have had to figure out a great deal on your own. There may be other options. You don’t know what you don’t know and there’s never a bad time to learn. Transitional:
Assisting a client who has just assumed a greater
level of responsibility in their current or a new
firm. If you rely exclusively on the skills that
helped you succeed before, you may join the 40% of
other executives who don’t make it through their
first year in a new role. The costs of failure for
all involved are very large here, financially,
emotionally and in terms of business momentum.
What does the coach tell my boss and others about our work?
The client owns the work between the client and coach. The coaching process is predicated on complete confidentiality between coach and client. The coach will solicit additional feedback or input from others only with the approval of the client. At the same time, the client must understand that the client company is making a significant investment in their development. The client is strongly encouraged to engage their boss and significant others in their planning to support their efforts to maximize the benefits of this investment.
How long does the coaching engagement last?
A normal engagement is for a year. The senior executives we choose to work with have challenging jobs and schedules. If we are to see a meaningful impact of the changes the clients choose to implement, it takes time. See our Coaching for Impact approach if you have interest in a 90-120 day effort with a narrower focus. We have another program designed for groups of mid-level leaders that is completed over eight months. See our Executive Leadership Learning Lab.
The coaching process is rather front end loaded; there’s a lot for the client and the coach to do to get rolling. The first 4 weeks or so we work in parallel and then we start to meet on a regular basis. We will have regular meetings every two and one-half to three weeks for the first several months, each lasting between one to two hours. After that, it’s about every three weeks for the remainder of the engagement. The coach is always there for the client however, with phone calls, emails, etc. whenever the need arises, days, nights and weekends. One client called from the beach on her vacation. We chatted briefly and then I told her to leave herself alone.
How can I be sure my coach knows my industry?
You can’t. At senior executive levels, it’s all about leadership and results. Although we have worked across a myriad of industries in our corporate lives and have served as coaches in even more, it’s not industry experience that matters. The similarity of leadership challenges across industries is quite remarkable. And we never suggest business solutions; that’s the client’s job. We ask the right questions so they may lead more effectively. Your chemistry with the coach is more important than industry knowledge on their part. Please see Client Companies to learn more about the breadth of our work.
Fortune Magazine* recently quoted a study indicating that executives across Fortune 1000 companies who had hired coaches, reported the following results: • A conservative estimate at least a $100,000 return was about 6 times the investment the client company made in the coaching relationship. 28% indicated a boost of quantifiable job performance of $500,000 to $1,000,000. • Better relationships with direct reports (77%), bosses (71%), peers (63%), and clients (37%). • A marked increase in job satisfaction (61%) and organizational commitment (44%) What our satisfied clients say is our testament as to why this is a very beneficial form of executive education. Please see Clients and Testimonials. *Fortune Magazine, February 19, 2001, page 250
What is the typical investment in executive leadership coaching and for other services?
This is an investment in the most critical resource organizations have. We charge $200 - $250 per hour for our services and for some there is a per person or an event charge. But we invest time at the end of our work with a client to determine the impact or improvements that have occurred. We are hired again and again by companies because we get results for the client and the client company. The time, energy and focus on the processes we use are what make the impact so significant.
If you have any other questions about any of our services, please feel free to contact us at:
Willy Steiner: coachwilly@executivecoachingconcepts.com PHONE: 847.778.9046 FAX: 847.692.2880
Write Us: Executive Coaching Concepts 8770 W. Bryn Mawr Suite 1300 Chicago, IL 60631 |
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Who Says Elephants Can’t Dance by Louis V. Gerstner, Jr. Lou Gerstner culminated a storied executive career and wrote this book to tell of his experiences in his last corporate challenge, leading IBM from its “depths” to a significant resurgence during his tenure from 1993 to 2002. It is well written (without a ghostwriter), but perhaps a bit tedious as Gerstner reflects on the many difficult and often mundane things he did to reenergize this proud but calcified organization.
Gerstner went to Dartmouth and then to Harvard for his MBA after growing up in a middle class family on Long Island. He went from college to McKinsey, to American Express in various senior executive roles and then to CEO of RJR Nabisco after its “Barbarians at the Gate” fiasco. He was hired to replace John Akers at IBM and began there on April 1, 1993. Not only is that an interesting day to begin such a challenge, but Gerstner provides one of his many interesting anecdotes when he tells about showing up to work on his first day only to have the building locked and having to convince a cleaning lady to let him in after pounding on the door for quite a while.
Who Says Elephants Can’t Dance is an easy read thanks to Gerstner’s straightforward style and his focus on the human element of the critical transformation he led. I was impressed with the confidence he conveyed once he had set a direction and his willingness to confront a very entrenched culture that had lost sight of its customers. It seemed if it was good for IBM, it was good for the world, to paraphrase a famous quote. I was also thankful that Gerstner’s confidence didn’t come off as him being overly impressed with himself. It’s not a “Lou centered” book.
The discussions about the business issues that arose and the strategies IBM developed were interesting but not compelling reading, unless you are associated with a related industry. There were some highlights to the book I would recommend you look over: • Chapter 6: Stop the Bleeding (and Hold the Vision); Pages 56-72: Here Gerstner speaks of how he kept the energy up to reengineer the organization during a time of wrenching change. Gerstner knows reengineering well based on his experience at McKinsey. His reengineering efforts to transform IBM led to what he states is “…the most significant legacy of my tenure at IBM would be the truly integrated entity that his been created. It was certainly the most difficult and risky change I made.” (pg.252) But he also states that reengineering is difficult, boring and painful. “One of my senior executives at the time said: Reengineering is like starting a fire on your head and putting it out with a hammer.” (pg.64) That’s my favorite. • Culture, Chapters 20-22; Pages 181-215: Here Gerstner gives a very insightful read on the huge challenges of turning around IBM. Although before he came to IBM he felt that corporate culture was but on of the many levers of organizational distinction, he came to feel differently. “I came to see, in my time at IBM, that culture isn’t just one aspect of the game – it is the game. In the end, an organization is nothing more than the collective capacity of its people to create value.” (pg.182) These 34 pages are worth the time. See page 206 for the behavioral transformation he pushed for. • Chapter 26: Elephants Can Dance; Pages 242-252: This is where Gerstner sums things up. He talks a great deal about the centralization versus decentralization and the valuable lessons he learned. • Appendix A – Employee Communications; Pages 285-338: Many examples of communications he wrote during his tenure.
Enjoy these insights from a remarkable leader.
Who Says Elephants Can’t Dance by Louis V. Gerstner, Jr., 2002, HarperCollins Publishers, Inc., New York, NY
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Business Trends:
Six months ago a friend recommended a magazine named Fast Company. It is an excellent resource of the latest and greatest in business trends. I have found lots of relevant materials for my clients. Visit their website @ www.FastCompany.com
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