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According to a recent study, half of all white-collar workers put in 50 or more hours per week in their job. And on an average, they tend to make about 400 million business trips in a year. In today's fast-paced, fiercely competitive business environment, executives are working way longer hours than their predecessors did many years ago. Moreover, they are increasingly expected to do ever more with ever less.
And then there are the endless issues to deal with ... so how does an executive keep the focus on the strategic direction of the organization.
Yes, it becomes difficult - even impossible to remain a high-performer when put against such high expectations and pressures in a rocket-paced environment.
In recent times, executive coaching has been the answer as it helps executives put the pieces together and remain competitive, while also maintaining a healthy life-work balance.
Executive coaching helps executives and leaders of large organizations stay on track by providing them with the motivation and strength training of sports coaching. Strength training takes on a brand new meaning when it comes to executive coaching. This could translate into helping executives identify their own strengths and weaknesses so they can efficiently go through their day's endless tasks and gain a level of personal mastery. Executive coaching thus helps them become more productive.
Executive coaching also helps executives deal with time management issues so they can prioritize their work strategically -thereby making them proactive rather than reactive. In this manner, executive coaching helps ensure crisis situations are at best, kept to a bare minimum.
An executive, who has been able to create a great team, is also one who achieves the most success. Executive Coaching can help in various key areas of team dynamics so executives are able to build and maintain highly efficient teams.
Finally, executives face much pressure in today's dynamic business world and executive coaching steps up to also help them balance their personal and professional goals, so they are able to enjoy healthy, balanced lifestyles.
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In one study conducted by MetrixGlobal LLC, companies including Booz Allen Hamilton received an average return of $7.90 for every $1 invested in executive coaching.
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A recent study of Executive Coaching in a Fortune 500 firm by MetrixGlobal reported a 529% return on investment and significant intangible benefits to the business.
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A survey by Manchester Inc. of 100 executives found that coaching provided an average return on investment of almost six times the cost of the coaching.
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An internal report of the Personnel Management Association showed that when training is combined with coaching, individuals increase their productivity by an average of 86% compared to 22% with training alone.
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A Hay Group study of Fortune 500 companies found that 21 to 40% utilize Executive Coaching; Coaching was used as standard leadership development for elite executives and talented up-and-comers.
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A 2001 study on the impact of executive coaching by Manchester Inc. showed an average ROI of 5.7 times the initial investment or a return of more than $100,000, according to executives who estimated the monetary value of the results achieved through coaching*.
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A 2001 study on the impact of executive coaching by Manchester Inc. showed an average ROI of 5.7 times the initial investment or a return of more than $100,000, according to executives who estimated the monetary value of the results achieved through coaching*.
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