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Executive coaching is more important now than ever before because most executives are dealing with unprecedented and fast-paced changes with limited experiential references to draw lessons from. There are also other factors besides work-related issues, and they include the impact of stress and workload on executives’ health and well-being. Executive coaching offers a powerful, safe, and sacred space for executives to process, reflect, decompress, and explore possible solutions to their often unique and hitherto unseen challenges.
Coaching can help you – or anyone who engages a coach – to hold up a mirror to yourself and/or to the issues and/or challenges that confront you. Coaching can assist you to grow your natural strengths and step up to tackle any challenges in your life. Coaching deepens and sharpens your awareness of who you really are, and what you can and/or cannot do. Great coaching helps those who utilize it to become clear on ways to change or move forward in their lives and/or careers.
Executive coaching can cost between $400 per one hour session to upwards of $700 per one hour session in new markets. In mature or developed markets, executive coaching can easily cost way more than this. Like any new profession, executive coaching is heavily impacted by various and diverse macro-economic and market conditions in different parts of the world or geographies. In most developed countries - or the west – coaching is far more advanced and easier to access
Executive coaching is mainly for professionals and leaders in all kinds of business across diverse sectors. Most people who seek executive coaching are senior professionals, managers, executives and other business leaders. Anyone who leads and/or manages people and/or businesses can engage an executive coach.
Executive coaching is about co-creating a safe container where the coach and the coaching client (one being coached) establish a partnership with the coach as the client’s thinking partner. In coaching the executive coach generally asks questions and makes statements, and observations, that help ignite different or deeper thinking and reflection in the coaching client. Coaching results in sharper awareness and generation of own new ideas in/by the client. A mentor – however – does not mainly ask questions, but guides, tells, shows, and ‘holds the hand’ of the mentee to ‘show them the ropes. This is because the mentor is vastly experienced in that area, field, or discipline, and shows the mentee how to do things based on the mentor’s own experience. A coach does not have to have experience in the specific area to coach a client, while a mentor is required to have vast experience.
Executive coaching and leadership coaching can be regarded as one and the same thing. Differences emerge when they are broken down into who exactly is being coached and what that is called. When executives are coached, it can be called executive coaching. When leaders – who are not necessarily business executives - are coached, it is called leadership coaching. These can be managers or board members of organisations. There are other more nuanced differences, yet the process remains mainly similar.
One of the best ways to prepare for executive coaching is to intend - or seek - to be as honest and vulnerable as possible during the sessions. It also helps to prepare to explore and experiment with new and unexpected ways and practices.
It is always important to ask the executive coach about their professional standing and accreditations or credentialing. This helps to confirm their credibility as a professional executive coach. Do not be afraid to ask your executive coach where they trained and how many hours of coaching practice they have. If possible, search for their background, ask them whether they regularly coach executives.
To become an executive coach, you must undergo extensive training in coaching from a coach-training business or program that is accredited by a recognized coaching body or association such as the International Coaching Federation (ICF). After certified training, you can then actively engage coaching clients and start building your coaching hours and attending coach supervision sessions regularly.
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