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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