Your New Secret Weapon: Executive Coaches

02/05/2008

Chairman's Message

Recently drew up a list of Ten National Trends in Healthcare. It was so easy to do that I did not break into a sweat and could have added more to the list. The point being, dear readers of this newsletter, is that you are facing a busy and challenging time into the foreseeable future and need to be "on top of your game."

A good place to start is with an effort to hone your personal management skills. This month's topic on Executive Coaching provides some sage advice on how to proceed.

Read carefully, and good luck.

Your New Secret Weapon: Executive Coaches

A woman I've worked with – we'll call her "Judy" – is the Vice President of Development at a large New York teaching hospital. Despite her skills at organization and delegation, Judy felt she remained far too reactive during the day. Answering phone calls and email took up too much of her day, she felt. This left limited time for her "big challenges," such as significantly growing the hospital's donor base the following year.

To help, Judy hired an executive coach.

"I thought my time management skills were excellent – I was wrong," she said. Hiring a business coach for just three months made a huge difference in my effectiveness. He was able to identify immediately where I was wasting time and how to streamline and better organize my day. He also got me to focus on business development initiatives that include more networking and contact with donors. Now, I am so looking forward to a great 2008!"

Could someone on your management team benefit from using an executive coach?

We've written before in this space about how a good manager, by definition, is a good coach. So why should you consider hiring someone from the outside?

Executive coaches bring years of experience to the table, are passionate about their areas of expertise, and have the time to help clients focus on objectives and set goals. Similar to the fitness coach, a business coach works with the executive to determine what areas need strengthening, and what objectives are on the table. He or she is impartial, coming on scene with no more baggage than an attaché case.

You could argue that just going to the gym "solo" and following a solid routine will get someone in shape, and it sometimes does. However, most serious athletes, and increasingly more business leaders, owe their success to coaches who push them past their comfort zones to attain goals they never would have met on their own.

Coaches offer fresh perspectives, listen attentively, make recommendations, and hold the executive accountable for implementing change and realizing positive outcomes. While a coach can help in many ways, four popular areas of concentration include:

Organization and Time Management
Professional Development
Work/Life Balance
Creativity

I encourage you to think about whom on your team might benefit from a business coach. As you do so, avoid the instinct to target your poor performers. Instead, consider the one or two individuals who are at the very top of your list in terms of productivity and accomplishment.

This may seem counter-intuitive, but by improving the strengths of your stars:

Your stellar performers will become even more effective;
You will underscore to them that they are extremely valuable to your team, and that your organization is willing to invest in their career development; and
Other members of your management team will want the organization to make a similar investment in their careers, so they will work harder to reach their goals and objectives.

The 80/20 rule suggests that 20% of your leadership team contributes 80% of the value. With coaching, you can reward your executives with the ability to progress even further.

How can you find an effective business coach? From my experience, the best coaches come by way of referral. Ask colleagues for recommendations. Keep in mind that a coach's overall track record is far more important than whether he or she has worked in your industry.

Including your executive in the selection is essential to the success of the coaching experience. There should be a certain level of comfort and trust between the coach and your executive, right off the bat. A short, preliminary meeting will determine if there is a good fit. If not, keep looking.

In my example, Judy hired her coach for three months, which is about the time it takes to show progress. Once goals are set and a plan is in place, it's up to the executive to take off the training wheels and put the coach's advice to use.

The great thing about a good coach is that he or she becomes the "secret weapon" in your management arsenal; someone who can help you and your team stay on top of their game.



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