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Ceos Want & Need Executive Coaching?
In a study conducted recently by the Stanford Business School, it was revealed that almost two-thirds of CEOs and nearly half of senior executives don’t get executive coaching or leadership development. Ironically, as reported by Bloomberg Business Week and Forbes, nearly 100 percent said they would like executive coaching to enhance their development.
So, what are the reasons behind CEOs and other senior leaders wanting coaching but not seeking it?
Probably, they are misguided about what coaching provides, in contrast to what they think they require.
Both views generate a gap between desire and action. Paradoxically, that gap is accidentally supported by most of the executive coaching programs.
Most coaching programs leave out or misinterpret the core coaching element. CEOs need an increased self-awareness, truthful self-knowledge about one’s aims, personality capacities, and values to develop their skills and effectiveness. The absence of that ends up lessening the weight of coaching in the opinion of the majority of senior leaders.
Self-awareness is critical to leadership. You can heighten it through coaching. The CEO of the Miles Group, Stephen Miles associated with Stanford on the study, stated that executive coaching is somehow “remedial” to CEOs, in contrast to something that augments high performance. It can be compared to how an influential athlete uses a coach. Furthermore, the CEO’s affirm that they are mainly interested in skills such as conflict management and communication. However, their need for compassion, relationship and persuasion skills is listed far below on their list. They consider the latter as “soft skills”.
The CEOs’ insight is reflected by both views. However, those, in turn, reflect the failure of coaching programs to illustrate that the basic structure of a winning leadership vision and behavior is increased self-awareness about one’s objects, values, and personality traits.
The higher you rise in businesses or corporations, the more psychological stress and relational issues crop up. To be a successful CEO, you need good judgment about others. You have to know their emotional and tactical personal drivers; their self-interest, obvious and concealed. In order for the relationship to be successful, you need self-knowledge, self-awareness. And you won’t be able to make out the truth about others without knowing it about yourself.
Self-knowledge and the relational competencies can allow CEO’s to devise, clearly express and lead a planned vision for a motivated, energized organization. Lack of self-knowledge leads to disagreement and argument among members of the senior management team or between members and the CEO as it builds clarity about objectives. It can tweak your understanding of the perspectives, values, aims and personality traits of others.
Power and Empathy
To be a successful leader, you have to observe, comprehend and deal effectively with others’ perspectives. Empathy is that part of self-awareness. Two recent studies show its crucial role. One study reveals the impact of power in an organization upon behavior; the other, its impact upon brain activity. Both studies found that increased power reduces empathy.
The qualities of a developed, mature mind are empathy, compassion, and self-awareness. If you have it, you can combat stress, handle internal conflicts, experience a deep connection with others, and maintain well-being. It kindles broad insights to understand the problems and unpredictable challenges that CEOs face.
You can build self-awareness when you honestly evaluate your emotional strengths and vulnerabilities, principles and attitudes, personality traits and unsettled differences. You are a whole, not simply a set of skills carrying out a role.
As per Chade-Meng Tan, one of Google’s earliest executives, self-examination is vital for leaders’ positive development. They positively benefit success and well being. In a business review, Scott Keller, a director at McKinsey & Company, stated that overcoming self-interest and delusion is important. He affirmed that one should be open to personal growth and development from within; leaders don’t accept the fact that it is they who need to change and the real bottleneck is to know what needs be done to change at a personal level. With self-awareness, leaders will come to know more about what not to chase and not simply what to pursue.
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