A Quick Guide to Coaching
Weyinmi Jemide (Partner)
|
Coaching shifts people from ideas, thoughts or desires to action. |
|
Coaching is a relationship by choice with a highly-skilled professional who works with you as a personal partner. |
|
Some experts call coaching “the new technology for learning and change” |
|
Coaching is a rapidly expanding industry, second only to the IT industry in its growth rate in the United States. |
|
Tiger Woods, the world’s best golfer, has a coach. His coach helps him stretch and refine his thinking and actions to achieve higher levels of performance. Olympic athletes are best in the world. Their coaches help them eliminate impediments to performance so they can achieve their full potential. Coaching works! |
|
The Business Case for Coaching |
-
A 1999 survey of human resource professionals found that 90 percent of companies in the United States offer some form of coaching to their key executives.
-
Recent studies indicate that companies who use coaches see quantitative results in productivity, and bottom line results in individual performance, profit, client service, competitiveness, next-level people development and retention.
-
In a study of 100 executives who had completed a coaching program between 1996 and 2000, they found that the return on investment was 5.7 times the initial investment outlay.
-
An International Coach Federation survey of 4000 companies found that the reported benefits of coaching included:
- improved individual performance
- improved profit, client service and competitiveness
- development of people for the next level
- management/staff relationship improvement
- improved retention
|
-
Examples of leading global corporate organisations that use executive coaching are General Electric, Johnson & Johnson, Gap, HP, Sun Microsystems, Cisco, IBM, Oracle, Federal Reserve Bank, Disney, Xerox, and Microsoft.
-
Between 25 and 40 percent of Fortune 500 companies use executive coaches, according to the Hay Group, a major human-resources consultancy.
-
Coaching is now part of the standard leadership development training for executives in such companies as IBM, Motorola, JP Morgan Chase, Hewlett-Packard and many others. Companies such as Merrill-Lynch and sales-based organisations like insurance firms use coaches to bolster performance of people in high-pressure stressful jobs.
- How does coaching differ in its approach to people development?
Consultants say “Here’s the solution”. Coaches ensure you follow through.
Trainers say: “Here’s how to do it”. Coaches assure you master that knowledge.
Mentors say: “Let me show you the ropes”. Coaches assist beyond corporate ladders.
Therapists say: “Here’s why you’re doing it”. Coaches focus on what’s right about you.
Motivators say “Here’s the carrot and whip”. Coaches assure incentives change with you. |
- Executive coaching.
- Business coaching.
- Team coaching.
- Sales coaching.
- Career coaching.
- Leadership development
- Top staff retention.
- Interpersonal relationships
- Management succession planning
- Work-life balance
- Team building skills
- Clarifying vision and purpose
- Retirement planning
- Specific benefits of coaching include:
- Clarifying work goals and developing concrete action strategy
- Maximizing strengths and abilities
- Eliminating impediments to success
- Recognising new competencies that leaders should be learning
- Preparing executives and business people for future challenges
- Developing team unity
- Sustaining momentum
- In coaching, the emphasis of the change process is on the person being coached and not on the coach. This implies commitment to change by the coachee.
|
