An organization functions well when all the employees work dedicatedly and sincerely. Employees in each department from all hierarchy have to be responsible and serious about their duties. But often, problems may arise, and even the senior employees may lose track. In such a situation, executive coaching can help the high-potential and ranked employees regain confidence, learn about their weaknesses, fix the problems they are facing, and enhance their performance.
What Is Executive Coaching?
Executive coaching refers to the cooperation between an executive and a proficient coach that aims to utilize the official’s potential and subtly extract the best out of him. An executive coach doesn’t instruct the official; instead, they work in coordination with the official, understand his faults and failings, and encourage him to solve the problem by himself.
The coach doesn’t force the employee or advise him to act in a certain way. He closely observes the problem and makes the employee realize the problem. This is a better policy for the employee’s development as he learns to identify the drawback. The next step involves modifying the issue and developing the employee’s capability and efficiency.
Thus executive coaching is to subtly groom and prepare an executive to fulfill his job responsibility without pressuring or stressing him. It is basically to make the official realize and understand his weaknesses and strengths and overcome his difficulties. A coach simply helps him throughout the process.
Cost And Availability of Executive Coaches
Various agencies offering executive coaching, and they have experts associated with them. Apart from these agencies, you can also search for coaches that offer the service online and conduct the activities virtually. These virtual sessions are suitable if the coach is located far from the workplace. Also, it depends on the executive’s comfort if he wants it to be online or offline.
The cost of hiring a coach depends on how much time he is investing and the type of duty he has. An average rate of a coach per hour is $350 to $500 per hour. This can go up to $3000 per hour based on the workload and duties of the coach. Also, the cost varies with the mode of coaching, i.e. online and offline.
When you are hiring an executive coaching service, you must conduct thorough research about the coaching, and check its reputation. Also, make it a point to meet the coach to understand their credibility. It will help you assess whether or not the coach can fulfill your requirements.
The Benefits And Outcomes of Executive Coaching
Let us know the benefits and outcomes you can expect after executive coaching.
A coach makes you realize your strengths and weaknesses. Through conversations and various tasks, the executive understands and knows more about his drawbacks and capabilities. So the first task is self-assessment.
Fix An Aim
Executives usually manage big tasks and projects. They need to have a goal to be accomplished and work accordingly. After self-assessment, fixing the goal is necessary to plan out the tasks. The coach and the executive can now prepare the executive for the task considering the self-assessment result.
The coach encourages the executive to modify the mistakes and drawbacks, understand and adapt to his job responsibilities, and enhance performance.
It is always good to opt for executive coaching to motivate the executive and maximize the outcome. This coaching makes the executive confident and self-reliant. It works as a push to utilize the executive’s potential and capabilities to extract the best out of him. Therefore, hire an executive coach to increase the efficacy of the executive.