March 3, 2023
Five Business Benefits of Leadership Coaching
For many companies, leadership coaching has evolved from a nice-to-have to an essential part of the competitive strategy. As leaders strive to thrive in an increasingly ambiguous, volatile, and complex market, they must develop critical leadership skills they can use now. Whether it’s a first-time manager, middle manager, or senior leader, people in these influential positions encounter distinct obstacles that can set them and their teams back when progress matters more than ever.
Leaders are proactively learning to lead instead of letting gradual trial and error evolve their expertise and capacity over time. Coaching helps expedite the learning process, and so it’s become hugely popular for HR teams. People in authority positions or headed toward them can avoid making many of the mistakes that come up at different stages of their careers when it comes to managing teams of people.
Forbes reported a study that found that companies get back seven times the dollars they initially invest into leadership coaching.
Metrix Global found leadership coaching brings a 48% increase in organizational performance and a 70% increase in individual leader performance. These increases result because leaders reached more of their goals, communicated more clearly, and reported more job satisfaction.
Mentorship can be a separate practice or an additional layer to the coaching relationship, and it brings high-level results as well. People who participate in mentorship programs are six times more likely to get promoted. Where do you see the results? Read on.
Here are Five Business Benefits That are Powered by Leadership Coaching:
#1. Quick Adaptation
75% of companies have undergone a rebrand since 2020. The next few years will bring more changes, including agile product pivots, restructuring, and reductions. Leaders are well-equipped to carry out change orders successfully. They have the skill set to help their teams move to new processes efficiently and effectively with fewer moments of lamenting. These leaders know how to communicate the reasons for the change, the corporate benefits, and the personal upside for their team members. They’re actively driving an evolutionary culture among their teams. They have an eye on the horizon, anticipating market changes in order to manage for the moment. When circumstances require a shift in approach, these leaders pull out other facets of their leadership style to meet the need, balancing humanity with systems.
#2. Lock-step Succession
It’s difficult to move a leader to a new position if there’s no qualified person to fill his or her shoes. Leaders that work with a coach are working as much on training their replacement as they are on moving up the ladder. What results, is a consistent highway of forward progress because companies have the people and talent to seize new opportunities and expand their existing footprint.
#3. Exceptional Team Talent
Keeping up with the market is one of the companies’ biggest challenges. Talent-deep companies are more likely to keep pace. Their teams bring the brain power to plan, innovate, streamline, and pivot effectively. Superstars want to work for great leaders. When they find one, they tell their friends about their awesome boss and recruit personnel for the team. A leader’s good reputation can attract the choice talent, and when these individuals get together, they produce dynamic results.
#4. Effective Systems
Leaders engaged in developmental coaching have access to highly effective systems through their executive coach. A leadership coach can show them specific systems and processes that have worked well in other firms, and walk them through how to implement them. They can help the leader to diagnose a problem and deploy the right methodology to resolve it.
Leaders move through challenges faster with minimal time spent on trial and error. A system that leadership coaches bring to the management table can also serve as an innovative leg up on the competition, especially, if it comes from another industry or culture.
#5. Organizational Health
A leader’s mindset infectiously impacts their teams. Coaches make leaders conscious of their psychological influence and help them to build psychologically healthy and cohesive teams.
- maximize their potential
- making good decisions
- engage in productive conflict
- reach goals on time
Leaders coach their teams with some of the same tools they have used on themselves in their independent coaching journey or put team members in touch with their own private coach. Leaders help teams gain clarity on their team identity and culture. And that includes –
- The team’s purpose
- The members’ respective roles
- Individual responsibilities
- Key signs they’re achieving their goals
Healthy teams make a healthy, high-functioning, and highly competitive organization. Leadership coaching sets leaders and their teams in motion toward optimum organizational health.
Leadership development coaching and mentorship programs bring the return on investment (ROI) that companies can leverage in this challenging business climate. TaskHuman makes rolling out coaching and mentorship seamless and accessible, thereby increasing effectiveness.
Check out these recent case studies:
Case Study: Juniper Networks
On A Mission To Improve Employee Well-Being, Employees Consumed One Million Minutes Of Coaching
Case Study: One Workplace
Enhancing Employe Camaraderie Through Wellness Competitions & Group Wellness Sessions
Case Study: BTS
Remote Employees Create A Culture Of Well-Being Amid Pandemic
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