Leading companies around the world provide their most valuable executives with executive coaching to fast-track improvement and extend much-needed competencies.
Executive coaching is used to address:
- Development of high-potential leaders
- On-boarding of new leaders
- Mergers or restructurings
- Changes in strategy or required competencies
- Change in management
- Succession planning
- Cultural alignment
- Improvement of underperforming executives
Coaching improves engagement, retention and the bottom line.
According to a Wall Street Journal survey of CEOs, retention of key executives is by far the most critical success factor for companies today. Meanwhile recent research finds that 82% of executives in the U.S. are currently searching for new jobs while Gallup reports that 70% of U.S. employees say they feel “not engaged or “actively disengaged” at work. Dissatisfaction with potential for career development is a leading reason executives offer for being dissatisfied.
A key to keeping the highest-achieving executives is to correctly identify them and provide them with meaningful development. Executives who receive coaching feel more connected to their firm through a greater sense of commitment to their jobs, increased alignment with the firm’s goals and a sense that their value is being recognized. Organizations that focus intensively on developing leaders build higher levels of employee engagement. This translates into higher levels of performance as measured by customer satisfaction metrics, market share and financial performance.
An overwhelming body of research clearly indicates the value of heightened self-awareness. From the recipient’s point of view, useful feedback is a rare phenomenon in corporate life—even more so the higher you go in an organization. WJM Executive Coaching is centered around providing honest and objective feedback in the context of a supportive and high-trust, confidential relationship, and then using this information about the executive’s strengths and limitations to develop a reflective and practical action learning plan that supports both the individual’s growth objectives and the company’s core strategies.
An executive’s effectiveness is largely determined by how well his or her team performs. In addition to coaching for individual executives, WJM offers rigorously customized programs that provide practical, long-term solutions to the specific challenges faced by senior management teams. We assess working relationships, team objectives, cultural alignment, meeting management, communication styles and other issues, as well as assist teams in traversing impasses that inhibit optimal performance.
How WJM Associates Brings Quality Control to Executive Coaching
According to a survey of executive coaching industry participants (What Executives Want From Their Executive Coaches – D. Balut, May 2005), the number one criterion for a successful coaching experience is strong and positive chemistry between the coach and client. While many coaching companies offer the services of a small team, or even a single coach, WJM’s highly experienced faculty of over 100 professional coaches allows for greater adaptability in complementing the personality, developmental needs, corporate culture, industry, personal background, location and even the language of the executive being coached.
According to the same survey, the number two determinant of coaching success is the coach’s own professional/business experience. While WJM’s Faculty members have had rigorous training in organizational development and/or psychology, we also put great emphasis on choosing consultants with direct business experience and a strong, real-world understanding of corporate dynamics. In fact, many of our Faculty members have proven track records in senior corporate positions in industries similar to those of WJM’s clients. The Company has received consistent positive feedback from clients who appreciate that WJM’s services are delivered from experience, rather than just theory.
WJM offers experienced Account Directors (ADs) who serve as strategic partners to our clients. Our ADs collaborate closely with line managers and HR executives to define requirements and success factors, while establishing the most comprehensive and strategically effective approach to executive and organizational development. ADs serve as ‘project managers’ for all coaching assignments. They ensure that the process is moving forward appropriately and that all deadlines and expectations are being met. They provide monthly “report cards” on each specific engagement, providing to HR and management an overview and status update against established goals and developmental action plans.
Serving the Organization
While we aspire to address the developmental needs of the individual, we never lose sight of the fact that this executive functions within an organization that has commissioned our services. Our coaches are deeply committed to helping individuals lead better lives, but they are only successful when that benefit comes in addition to meeting specific organizational objectives and delivering significant bottom-line value.
Measuring and Guaranteeing Results
WJM’s coaching is custom-designed to deliver observable bottom line value to the company in a short period of time. We hold our coaches accountable by monitoring improvement using reliable, objective measures of change. Results are tracked against individual action plans and/or leadership competencies and are guaranteed by WJM. As your executive coaching partner, we can provide reports that measure the overall and comparative effectiveness of all of the organization’s coaching assignments, whether or not they are delivered by WJM.
The WJM AD meets with HR and the manager of the executive to discuss the selection of a coach and the developmental opportunities, specific desired outcomes, communications to the executive, reporting process, etc.
The executive, the manager, HR and the coach reach agreement on confidentiality, desired outcomes and measurement. Up-front contracting outlines key duties and responsibilities.
WJM typically utilizes MBTI® Step II and the 16PF® online. Other assessments that the client favors can also be utilized. Interviews with the boss and the executive along with face-to-face or online 360º surveys with key stakeholders are conducted.
The Coach summarizes all relevant assessment data (personality/leadership-style assessments, 360º surveys, interviews) in WJM’s Leadership Effectiveness Assessment for Development (LEAD)™ report and shares with the executive. The coach and the executive then collaborate on a developmental action plan, focusing on 2 to 3 major developmental opportunities arising from the LEAD™ report findings. During a three-way meeting between the executive, the coach and the manager, the executive then presents this developmental plan and an executive summary of the LEAD™ report (subject to previously agreed upon confidentiality guidelines) to the manager for additional input.
The executive gains awareness of her/himself, leverages strengths, understands the impact he or she has on others, creates new alliances with the manager, peers and subordinates, feels more comfortable collecting and reflecting on feedback, applies new behaviors to see results in very specific, business situations, and transfers coaching skills to subordinates. Periodic progress reports are provided to the appropriate people.
Measurement of desired outcomes and the developmental plan are developed, bridging the executive to the future, and includes evaluations of WJM services.