Executive coaching is an affordable and useful treatment

INA Documentary In 2004’s “Metallica: Some Kind of Monster,” members of a titular heavy metal band hire a “performance improvement coach” to resolve their disagreements. The musicians can’t stand him and bond over their decision to kick him out. After working for years at Lehman Brothers, when he was a former banker, UBSMorehired a coach to discuss next steps, but the nuggets of wisdom gained over six 40-minute sessions set him back about $8,000 and seek out roles that are “paid for experience.” It should have been.

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It’s tempting to paint executive coaching as just another status symbol that boosts the already ample self-esteem of powerful managers. However, this practice of combining administrative advice and therapy need not necessarily be an expensive and routine practice. Few executives hold a fixed stance in their careers, but many need guidance in moments of transition when relying on internal monologues isn’t enough. The COVID-19 pandemic has heightened the anxiety felt by high achievers and heightened the need for skilled coaching. A 2019 study by professional training services provider Angel Advisors found that coaching in the United States is now a $2 billion industry, big for what appears to be a niche business. The existence of such a demand strongly suggests that professional grooming can be leveraged.

In particular, many managers CEOs find it difficult to discuss the challenges they face. Hierarchical structures can undermine a manager’s authority, making it difficult to share issues with employees. At the same time, confidentiality prohibits management from discussing company matters with outsiders. Robert Pickering, former president of investment bank Casenow, which was acquired by JPMorgan Chase, wrote about his own experience in his memoir, “Blue Bloods.” “Companies are run largely by command and control, with very few insiders to share their frustrations and frustrations,” he explains. By working with his coach, he was able to develop coping strategies and direct the boardroom.

Coaches have a better understanding of how managers think if they were once managers themselves. London Business School’s Herminia Ybarra points out that many professionals with industry expertise and people skills eventually tire of operational roles. Some consider coaching to be a meaningful second act. Take Anna Lüneberger, for example. He left the corporate world to coach founders and companies. C.-Suite. Her approach is outlined in “Unfiltered: The”. CEO And the Coach, a book she co-authored with one of her clients, focuses on maximizing strengths rather than fixing weaknesses.

Your columnist guest Bartleby decides to consider his own strategy by going to a private club in Mayfair for an extra coaching session with Ms Luneburger. Preparation included filling out an extensive questionnaire including Hogan’s Leadership Prediction (a psychometric assessment of “derailers and personality-based performance risks”, as you are asking).

Coaches routinely ask clients to describe obstacles to their well-being and growth, from difficult peer relationships and harsh inner critics to dwindling motivation and drive. Given the time constraints, Ms. Bartleby discussed personal issues plaguing her at work. After two hours of drinking tea and carbonated water, the session ended.

Despite the jargon, coaching is not a scientific method. But when you take all the talk out of your comfort zone and he returns to 360-degree change, it ends up being an intuitive, collaborative process whose success hinges on the chemistry between coach and client. . Ms. Luneburger didn’t appeal to the self-care siren song or simply tell Mr. Bartleby what he wanted to hear. Instead, she changed the angle of the issue. This is not easy for most clients to do on their own. Many of our clients operate on autopilot at work and elsewhere.

according to via On character questionnaires (completed alongside Hogan), Bartleby scored low on leadership but high on truth-telling. Here’s her message, using these new credentials: C.-Sweet, hire a coach. It doesn’t have to revolve around a crisis or a fork in your career path. At best, it can reveal problems faced by executives. The worst thing that can happen is spending time with a well-meaning, usually intelligent interlocutor who helps cement common sense. What wouldn’t you like if you could put your fees into an expense account?

Read more from business and work columnist Bartleby:
How white-collar warriors prepare for the day (July 6th)
Potential and plight of middle management (June 29th)
“Expansion of Human Resources” is a textbook work of business administration (June 22nd)

Related Article: How the Bartleby Column Works got that name

https://www.economist.com/business/2023/07/13/executive-coaching-is-useful-therapy-that-you-can-expense Executive coaching is an affordable and useful treatment

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