Executive coaching is a key success factor. You don’t need an executive coach only because you are having issues. It’s actually the opposite – getting an executive coach will help you avoid issues and strengthen your leadership and organizational culture, not to mention the many other benefits executive coaching can offer management.
“According to an ICF and HCI study, 60% of respondents from organizations with strong coaching cultures report their revenue to be above average, compared to their peer group,” says William Arruda on Forbes.
“When it comes to building your personal brand, a coach can be a powerful resource who can help you get out of your own way, stand out, and take action to achieve the things that are truly important to you,” he adds.
4 KEY SIGNS IT’S TIME TO HIRE AN EXECUTIVE COACH
While it stands to reason that all companies need some form of executive coaching from time to time, there are number of warning signs that suggest it may be time to enlist the help of an executive coach:
A lack of engagement
Your people are the backbone of your organization, and if they are not engaged, you will not get the results you want. Disengaged employees are less productive, more disruptive, and more likely to leave your organization, creating gaps in your company.
Employee retention issues
You are only as good as your top talent, and if you are having issues keeping top industry talent in your company, then it may be time to get an executive coach to assess the situation.
“You might have a great company but if you can’t retain your top talent that’s a sure-fire warning sign that something’s not right. Not only do you lose the time and training you invested in those employees but you lose the income potential they were capable of bringing in. An executive business coach can teach you how to keep your top talent employees by helping you identify why they’re leaving in the first place,” says Joel Garfinkle.
Clarity and focus are vital for companies. You need to know where you are headed and you need to have efficient processes that are clearly defined to help you achieve your objectives. An executive coach can help you analyze your processes to see what is and is not working.
There is division internally
Strong organizations are on the same page from the top down. If you notice that leadership is growing increasingly disconnected from middle management and employees, and people are increasingly becoming divided strategically and culturally, then an executive coach can help you get to the root of these issues.