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CUMA Conference 2005
Where Credit Union Managers Connect
CUMA Welcomes
Peter Bedard People First Inc.
“Holding up the Mirror! Executive Coaching…”
Introduction
• Why are you here?
• People First Model of Alignment
PURPOSEMISSIONVALUES
Comm
unica
tion
Cultur
e Strategy
Structure
Tea
m B
uild
ing
Satisfaction and
RetentionRecruitment and
Selection
Job Design
Succession and
Career P
lanning
Per
form
ance
Man
agem
ent
Training and Development
Compensation and
Incentive
VisionMissionValues
Some Statistics
• “Between 25 percent and 45 percent of Fortune 500 companies use executive coaches.” Survey by The Hay Group,
• Metropolitan Life Financial Services– retained all of the salespeople who had coaching– each representative who leaves a company with three
years’ experience cost $140,000 to replace. – the coaching program which cost about $620,000,
delivered $3.2 million in measurable gains: A 5.16 ROI. The Rowell Consulting Group
More Numbers
• “…a full ROI study on an executive coaching program that produced a return on investment of nearly $3 million per year or 689 percent.” Ed Cohen, senior director at the Center for Performance Excellence
• According to a study done by the Manchester Group, organizational benefits from coaching include:– Improved Relationships 77% – Improved Teamwork 67% – Improved Job Satisfaction 61% – Improved Productivity 53% – Improved Quality 48%
Exercise
1. Write down names of people you know or know of when you hear the word coach.
2. Write down the top 3 attributes that you think of when you hear the word coach.
Are these what you pictured?
An Executive Coach• “holds up the mirror”• offers an outside perspective• creates a safe haven for executives to admit their own
desires and fears• motivates the executive to clearly articulate his or her
vision for the organization or department• helps executive set stretch goals• acts a sounding board for ideas related to managing the
team• holds the executive accountable for living the
organization’s values• connects the individual with specialists as required
Coaching the executive team
• fosters more openness from those who may feel threatened by “Right Hand” or by HR
• says the things that team members are thinking or feeling but are afraid to say
• can act as “integrator” with overall team• observes the next level of implementation and provides
timely feedback• helps to “translate” leader’s vision and intentions• removes “power of the pen” in meetings by acting in a
facilitation role • introduces timely learning opportunities• helps overcome natural team dysfunctions
The 5 Dysfunctions of a Team
Absence of
Trust
Fear of
Conflict
Lack of
Commitment
Avoidance of
Accountability
Inattentionto
Results
Taken from The Five Dysfunctions of a Team – Patrick Lencioni
Status and Ego
Low Standards
Ambiguity
Artificial Harmony
Invulnerability
Dysfunction
Result
Executive coaching
Can be confused with…
…consulting
…mentoring
…teaching
…advising
Shouldn’t be confused with…
…managing
What isn’t coaching?
• a therapist relationship• a judgmental relationship• a nodding head / ego-stroking• a structured relationship• an execution role or line position – coaches work through
the client• a proxy role – “on behalf of the CEO you should do that”• off-the-shelf• measurable – leap of faith• forever
Qualities of a good executive coach
• Relevant / transferable business experience• Good interpersonal skills• Emotional “radar”• Political savvy• Flexibility and creativity• Tough love• Organizational insight• Comfort with the top but happy in the background
Why an External Coach vs. “Right-hand”
• perceived objectivity• comfort with vulnerability – should be working self
out of a job• less fear of recrimination• may be able to use more than one, depending on
circumstances and specialty required• easy to change when timing and “fit” change• trained as advisor not as technical Subject Matter
Expert• Hopefully, less political
Possible downsides to using an external coach
• may be perceived as a “mole”; creates suspicion• may lack suitable business knowledge to put into
context• cost; may be perceived as luxury• may become a crutch; held solely accountable for
lack of leadership or team performance• there is no “silver bullet” in Leadership
What can coaching help you do?
• Ensure alignment• Develop Potential Leaders • Select and Retain Key Talent • Succession Planning • Create an Engaged Workforce • Improve Company Flexibility and Responsiveness • Increase Innovation• Increase efficiency and reduce costs
How do you know if you need a coach?
• look at the executive team dynamic – communication, support, meetings, sharing best practices
• when an individual is taking on a new assignment
• when a person is developing new leadership and management techniques
• When you wish to build interpersonal and team skills
Executive Breakout Workshops1:00PM – 2:30PM
• Workshop #3 – Tom Thomson– Holding up the Mirror! Executive Coaching…
• Workshop #4– Varley– Implementing DICO’s Revised Bylaw #5
• Workshop #6 – Governor General– Trends in Retail Service Delivery
• Workshop #7 – Carmichael/Jackson– Acquiring, Retaining & Growing Profitable Members