The
following article was published in Nevada Business Journal,
2004.
Staying
Great with Executive Coaching Joelle K. Jay, Ph.D.
The best leaders realize the time to improve
is when things are going well. Instead of shoring up weak spots
when they lead to trouble, smart leaders strengthen strong
spots to prevent trouble. It’s how the great stay great.
One of the most powerful strategies for staying
great is executive coaching, which takes into account the specific
strengths of
leaders, and aims for the advancement of individuals and
the company as a whole.
One corporation that has implemented
executive coaching is International Game Technology (IGT).
Forbes magazine calls
IGT one of America's Best Managed Companies. IGT is consistently
a high performer, capturing the lion's share of the gaming
equipment market at 70 percent
And yet, this is the time
they have chosen to enhance their leadership. Now, during
their boom, they have instituted
executive coaching for top and promising leaders. IGT
has launched this
initiative while the time, energy and resources are available
to further advance the company’s success.
What’s
interesting about IGT’s approach is its
focus on successful executives. Coaching is extended
to the director-level executive all the way up to its
senior vice
presidents and highest-level officers. Coaching suits
this level of leadership, where the issues are so complex.
Leaders
are able to talk in context about things like strategic
planning, managing change, and—especially for leaders
ascending the ranks quickly—shifting from a narrow
concentration on daily operations to more global thinking.
Executive coaching
at this level does not try to “fix” something
that’s “broken,” but
rather maximizes the opportunities for leaders to successfully
manage business.
What makes executive coaching so appropriate
for accomplished leaders is its emphasis on building
upon existing strengths.
By applying this approach with her coach, one IGT executive
was able to use her distinctive organizational system
to improve her efficiency. Another used her reserved,
quiet
nature to
create tighter bonds among her team. These leaders leveraged
their unique styles to sustain the company’s growth
and improve their own performance in the process.
IGT
is just one example of the many corporations maximizing
the good times by expanding the capacity of their leaders
through executive coaching. The most successful programs
are characterized
by five important elements.
They focus on high-achieving,
high-potential leaders. The kinds of issues faced by top leaders are the
most complex and have the greatest bearing on the success
of the
company.
They build upon the
existing strengths of individuals. Leaders reach their positions by virtue of their talents.
These same
talents are the ones to amplify to keep them and their
companies going strong.
They are individualized. The private nature
of coaching provides the safety that is vitally important
to leaders,
who need to be able to explore issues freely, directly,
and in
confidence.
They are flexible. The duration, structure,
and format of coaching vary from one leader (or one company)
to another.
It’s critical to give the change process time
and create a program that befits the goals for the
coaching.
They function in context. The dynamics
of a company’s
people, pace and processes complicate every leader’s
job. Good programs take this into account while staying
true to the vision of the company and the growth of
the leader.
When companies offer leaders the opportunity
to improve through executive coaching, they take full advantage
of the talent
in their ranks. But the time to do it isn’t when times
get tough. By investing in their leaders when they’re strong,
succeeding companies can capitalize on momentum and push the
limits of performance.
Joelle Jay, Ph.D., is the owner and president
of Pillar Consulting LLC, a leadership development firm in
Reno, N.V., specializing in leadership and personal effectiveness.
She coaches business leaders and executives in achieving success
while maintaining a healthy life balance. She can be reached
at Joelle@pillar-consulting.com.
Reprinted with permission from Nevada Business Journal, 2004.
