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Boston – As the slow economy persists, more companies are using executive coaches from outside their organizations to build business and profitability by sharpening the leadership, motivational, and competitive skills of their senior-level executives. Coaches are also working with companies to ensure that those who have been promoted to replace others no longer there have the necessary and desired management skills, according to ClearRock, an outplacement and executive coaching firm headquartered in Boston.
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* 74% of companies are using outside coaches to enhance the skills of their top-level executives, according to a survey by ClearRock (www.clearrock.com). Coaches are working with senior-level leaders to improve their leadership, strategic thinking, communications, motivation, employee engagement, and business development skills. |
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* 41% of organizations are using outside coaches to strengthen the skills of high-potential employees and to assist those who have recently been promoted to replace those who have left make the transition from being individual performers to managers, according to the survey |
"More companies are investing in growing and developing desired skills in their management teams as a way to increase business and improve profitability. They are utilizing coaches from outside their organizations to gain a fresh perspective on management styles and interpersonal abilities, and embed these attributes in high-potential and recently promoted workers," said Annie Stevens, managing partner with ClearRock.
Among the ways companies are using outside coaches to increase business and profitability are:
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* Effective communication: "Communication must be continual, quick, and honest. Leaders and managers must know how to answer tough questions, including whether there will be more cutbacks, and about the status of the business and employees' career futures and opportunities," said Greg Gostanian, managing partner with ClearRock. |
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* Motivation and engagement: "The ongoing slow economy requires different management skills, with an emphasis on motivating employees and keeping them engaged in their jobs with fewer financial incentives available," said Stevens. |
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* New leaders: "Coaches are working with employees who have been newly promoted to replace those no longer there to make certain they have the required and desired skills. Once successful individual contributors, newly promoted managers often find themselves in unfamiliar territory, being responsible for managing others. Companies are recruiting executive coaches with experience in developing new leaders and high-potentials," said Stevens. |
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* Managing change: ”Outside coaches are working with executives and managers on how to effectively prepare employees for changes that have taken place, and will be taking place, in their workplaces, as well as within their own jobs. More than two-thirds of change initiatives fail because they are ineffectively communicated and managed," said Stevens. |
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* Capitalize on opportunities: “Companies are also using coaches to hone employees' entrepreneurial skills so they can more readily seize business opportunities from their competitors. Coaches are helping executives and managers sharpen their vision, strategic thinking and team-building skills, and working with them to think like entrepreneurs who can identify business opportunities, take advantage of and more fully exploit weaknesses in competitors," said Gostanian. |
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* Assess desired competencies: "Outside coaches are assessing the skills companies desire in their leaders and ensure they are present in current and future managers. Assessments provide more consistency and better fit in developing the leaders of the present and future," said Stevens. |
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* Modify counter-productive behaviors: "Outside coaches are also working with managers and executives to modify counter-productive behaviors such as poor communication skills, and inability to manage or develop direct reports. These can be especially counter-productive in a down economy," added Stevens. |
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