Reading Lecture 11 Executive Coaching

7/28/2019 Reading Lecture 11 Executive Coaching

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Executive Coaching: What is it?One on one working engagement

between a company executive and an

executive coach

Requires substantial commitment andenergy from both parties


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What is the purpose?

To improve executives performance

To further develop the talent bank ofthe organization


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Is there only one model?No, there are many models

Most have similar protocols

This discussion will summarize modelsmost familiar to the speaker


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Who gets Executive Coaching?Many Fortune 500 companies readily

use it for their top executives and

managers

Example: One of top five internationalpharmacy company has individualcoaches for its top 40 executives


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What does it cost?Sample model

$32,500 per executive for one year

$40,000 per CEO for one year


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Who pays for it?

In 80-90% of the time, the companypays for it


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Can an individual buy it?

Yes, many individuals consider it sovalue added that they self pay it


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Can an individual negotiatethe price?

Yes, individually , everything isnegotiable


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How are coaches selected?Large Fortune 500 companies have avery stringent vetting process

Executives can then pick 3 coaches

from the vetted pool, and interviewthem, and select the one best for them


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What is profile of a coach?Many are very seasoned/successful

retired executives who feel an

obligation to help the next generationof leaders

Many are psychologists who areexperienced in working with senior

leaders


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Who do executives prefer?Executives in staff roles may like the

approach of a psychologist

Executives in line roles almost always

prefer a highly seasoned executivecoach who has been there and iscombat tested


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Male or female coaches?Some executive coaching companies

think only women can coach women,

and only men can coach men

This speaker recommends getting thebest coach regardless of gender


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How long does coaching last?

A typical model is a 10-12 montharrangement


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Are there are quick fixes?No.

It is very difficult to significantlychange behavior in a very short period

of time


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How often do coaches meet?Typical model

Twice a month for 90 minutes

On call by phone, as needed


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What are success rates?

Typically, executing coaching issuccessful 85% or higher

Sometimes failures do occur


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Is coaching sometimes for

executives in trouble?

Yes, it happens in a minority of cases

The executive coaching may be a last

attempt to save an executive introuble


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What is success?The executive receives great value from

the relationship

The executives future in the companyis enhanced

The executive is being prepared forhigher assignments


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What is failure?A troubled executive may be fired

The executive and coach may find theyare not compatible, and stop.

The executive may leave the company,

sometimes for a higher position inanother company, or competitor


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What happens in 12 months?There are typically 3 major phases

Phase 1: Assessment (the most time

intensive)Phase 2: Positioning for

Leadership/Leadership Development Plan

Phase 3: Implementation/practicing/finetuning/review


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What happens in Assessment?

Career history interview

Extensive testing

360 degree interviews

Gathering of key information includingresume, organizational charts


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Does paying company get all

the information?No, the coach views the executive as the

client, not the companyThere is a cone of silence over the coach and

the executive.

There maybe periodic high level reports tothe company, but only with the consent ofthe executive on the content


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Can executive bare his/her soul

to the coach?

Yes, trust is an essential component ofthe relationship

The engagement is sacred, almost like aphysician-patient relationship


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What are tests used in Phase 1?Sample Tests are:

Myers Briggs Type Indicator (MBTI)

NEO-PI-R

Life Styles Inventory (LSI)

Leadership Effectiveness &Adaptability Description (LEAD)


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Myers Briggs OverviewProfiles basic traits about a person not

likely to change

There are no good or bad profiles

Helps understand basic psychological

preferences or stylesHelps understand the styles of others


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Myer Briggs traits examined

Extraversion

Sensing

Thinking

Judging

Introversion

Intuition

Feeling

Perceiving


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What does NEO-P-R look at?5 dimensional model of personality

Emotional

Interpersonal

Experiential

AttitudinalMotivational


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What does LSI look at?

Looks at individuals self image

Looks at thinking styles

Reflects on individuals current state

Snapshot of how you are dealing withchallenges


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What does L.E.A.D. look at? Provides insight into your perception of leadership

style

Major styles are:

Delegating

Participating

Selling

Telling


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How did 360 interviews work?

Done confidentially

Interview 3 executives at a higher level

Interview 3 executives on the same

levelInterview 3 subordinates


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What are sample 360 fixed

questions? On a scale of 1 to 10 (1 being terrible, and 10 being

outstanding) how do you rate the executive on thefollowing traits (without comment):

A) Listening skills, b) General Business skills, c)Leadership skills, d) Loyalty, e) Integrity, f) Delegation

skills, g) Respect for coworkers, h)Timeliness, i)Stewardship, j) Decision making skills, k) Creativity,

l) Team player, m) Public speaking skills, o) Hardworker


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What are samples of open

ended 360 questions? How long have you known (client) and in

what capacity?What do you see (clients) major strengths

and skills. Please give examples.

Everyone has areas where they can improve.How could (client) improve?


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Sample questions, continuedPlease comment on (clients)

communications skills in groups and in one

on one.Are there some specific things that (client)

could do to be more effective in his/her role?

If you could give (client) some career, orprofessional advice, what would it be?


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Sample questions, continued

What else do I need to know about

(client) or about how issues areimpacting his/her future?

Anything else?


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What precautions taken during

360 interviews? Emphasis on the fact that the interview is

confidential

Told that interview will be summarized generically

Ask person being interviewed to avoid anycommon phrases that client would instantlyrecognize. (example: you need to work smarterand harder)


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How candid are the answers?

Once confidentiality is assured, thequestions receive very candid answers


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Positive examples of answers? he has a commanding presence

he is good boss.no sitting on the fence.he goesfor solutions

she has strength in leadership, without beingdominating

she has CEO potential


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How long does Phase 1 last ?It can last 6-10 weeks

You never rush it because of the valueof information being assembled

A good Phase I also has a very positive

impact on the Leadership developmentplan


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What happens in Phase 2?Phase 2 is positioning for the future

A Leadership Development Plan isprepared which addresses the leaders

strengths and weaknesses

The client must sign off on the plan


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How long is Phase 2?

It usually lasts about 6-8 weeks

It represents the blueprint for the

future


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What happens in Phase 3?

Phase 3 is the implementation phase ofthe Leadership Development Plan

The coach is constantly pushing theexecutive to excel, to fix or improve

weaknesses, and to focus on the future


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Personal case studies in

Phase 3?Many actual scenarios, as presented by the

executive , are reviewed are the coach

What could the executive have done better?

What behavior does the executive need tomodify?


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Is leadership plan evermodified?

Yes, absolutely.

Any executive may improve substantially in any onegiven area and then has to take his/her executive skills

to the next highest level?


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When is it over?It is over when the executive and coach

feel their job is accomplished, or at

about 10-12 months

Sometimes, the engagement may beextended by mutual consent of the executiveand the coach


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What happens at end of

initial contract?

Usually, the engagement ends and a

summary leadership plan is prepared

On occasion, the client may want toextend the contract under specificterms and conditions


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What is satisfaction level?For completed engagements, the

satisfaction level is usually very high;

example greater than 85%Clients recommend others consider

the investment in leadership


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What is Ed Golin story?Ed was my coach

How it started

Our big differences

What happened

How it endedHis final recommendations to me


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What happened 7 yearsafter Ed died?Special phone call to Eds wife


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SummaryIf you ever have the opportunity to have

an executive coach.

Make sure you pick the right coachfor your needs

Then, jump at the opportunity to investin your leadership potential and future

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Reading Lecture 11 Executive Coaching