As we look towards the future through the eyes of our own executive coaching practices, it is difficult to predict with certainty what 2023 will bring for executives and leaders in the industry. However, it is likely that there will be ongoing challenges and opportunities for everyone to navigate in the coming year.
Some potential developments that could impact executives coaches and leaders alike in 2023 may include changes in the economic and business environment, technological advancements, shifts in consumer behavior and preferences, and changes in the social and political landscape.
In order to be successful in the face of these challenges and opportunities, it is important for executives coaches, and leaders to be proactive, flexible, and adaptable. They will need to be willing to embrace change and adapt to new developments in order to remain competitive and achieve success in their roles.
“Successful leaders see the opportunities in every difficulty
Rather than the difficulty in every opportunity”
-Reed Markham
“Choose one of the four skills (connection, attention, respect, or empowerment) where you feel the most comfortable initiating change, and focus on improving those other three skills. These skills will help create a better culture which is based on teamwork to increase employee commitment, adaptability, quality, and creativeness” (Paulise, 2022) [1].
Executive Coaching
Executive leadership coaching is a form of professional development that helps upper management become more effective in their roles. It focuses on developing the skills and qualities needed to lead a successful organization, such as communication, decision-making, problem-solving, emotional intelligence, and strategic planning.
Different people require help in different areas so it is up to the executive to perform their own due diligence and self-assessment to find out what type of coach would be best suited for them.
- Business Coaching is basically coaching for the whole organization. The coach works with wider groups within the company to discover strategies that will best utilize the company resources for a better outcome. Through collaboration and input from different people specialties and strengths are revealed and deployed. This type of coaching often focuses on areas such as strategy, marketing, sales, and financial management.
- Executive Coaching is much more focused than other types of coaching. It focuses on developing leadership and management skills for the top-level executives and managers of the organization. It usually involves 1 on 1 session where the executive coach tailors their approach based on the individual they are coaching. This type of coaching is often focused on helping executives improve their leadership skills and abilities, as well as their decision-making and problem-solving skills. Executive coaching is best suited for new managers and executives.
- Strategic Coaching is a type of coaching that helps leaders develop the skills and abilities needed to effectively develop and implement strategies within their organization. It provides insight into how the industry as a whole is evolving so that the leaders can come up with new and improved strategies that best capitalize on those changes. This type of coaching often involves working with leaders to identify and assess strategic opportunities, develop and implement strategies, and evaluate their effectiveness.
- Behavioral Coaching is where leaders are led to understand and change their behavior in order to improve their performance and achieve their goals. This coaching often involves working with coaches to identify behaviors that are destructive or unhelpful in achieving one’s goal. The coaches then devise strategies to change those behaviors so that a better outcome is achieved.
“The greatest part about executive leadership coaching is the fresh, unbiased perspective that it offers. A coach is a neutral third party that tries to improve the organization by helping the upper management, by telling leaders where they are going wrong and what their weaknesses are. Coaches try to tap into and harness emotional intelligence and accountability so that the organization as a whole becomes adaptable and agile” (Stogdon, 2022) [2].
“A leader takes people where they want to go. A great leader takes
People where they don’t necessarily want to go, but ought to be”
-Rosalynn Carter
Executive leadership coaching can help improve an executive’s ability to manage their team, motivate their employees and create an environment where everyone can thrive. It is a powerful tool to help leaders reach their full potential and create positive change within their organizations.
Leadership Styles
Leadership style refers to the approach that a leader takes in leading and managing people. It is the way in which a leader interacts with and directs team members, and it can have a significant impact on team performance and morale.
“In 1939 a study was conducted by psychologist Kurt Lewin and his team, to discover the different leadership styles found in organizations. This study found 3 major leadership styles; authoritarian, democratic, and laissez-faire. In this study, Lewin separated school children into 3 groups each placed under a leader that used these leadership styles” (Cherry, 2022) [3].
Authoritarian Leadership
Authoritarian leadership also known as autocratic leadership is where the leader makes decisions without consulting others and expects their orders to be followed without question. There is usually a clear division between management and employees. Research has shown that there is less creativity in such leadership and abuse of such style is often viewed as controlling, bossy and dictatorial.
Democratic Leadership
Democratic leadership or participative leadership is well known to be an effective leadership style. Democratic leaders value the input of their group members/employees. While participation is encouraged in such a style, the final decision is still in the hands of the executive. The workers are more creative and motivated under such leadership because clear communication about the plan fosters a sense of trust and commitment in the employees. It was found that while the members of this group were less productive, their input was of a higher quality.
Laissez-Faire Leadership
Laissez-Faire leadership, more commonly known as delegative leadership, involves the leader taking a hands-off approach and allowing their team members to make their own decisions and solve problems on their own. This style can be effective when team members are highly skilled and motivated but with a normal group, this style was found to be unproductive, uncooperative, and unable to work independently.
However, a lot has changed with the way we do business and expect leaders to behave. In the past 80 years since Lewin released his finding the Industrial and Technological revolutions have significantly reshaped our world.
During that period we saw the advent of many different Leadership styles, with two of the more notable being Transactional and Transformational.
Transactional Leadership
A transactional leader focuses on establishing clear expectations and consequences for meeting or failing to meet those expectations. This style can most easily be seen in employer-employee relationships. This style involves setting clear goals, giving feedback, and rewarding or disciplining team members based on their performance. This style leaves clearly defined roles and expectations and allows for a great deal of supervision and direction.
Transformational Leadership
A transformational leader focuses on inspiring and motivating team members to achieve their full potential. This style involves working with team members to set challenging goals, develop their skills, and create a shared vision for the team. A certain level of emotional intelligence, passion, and energy. This style results in higher performance and improved group satisfaction.
“Even modest improvements can justify hiring a coach.
An investment of $30,000 or so in an executive who has responsibility for tens of millions of dollars is a rounding error”
-Jerome Abarbanel
But in the last decade prior to the turn of the century, we witnessed many the onset of many styles – here are six of the more popular at that time coming from David Goleman – Visionary, Coaching, Affiliative, Democratic, Pacesetting, and Commanding.
And the changes continue for our 21st-century leaders as they evolve with the times.
Today some of the most popular spoken still include the above six but this list has grown, servant, collaborative, agile, adaptable, and catalyst to name a few. In fact, as executive leadership and career coaches, we guide our clients to pursue the Catalyst leadership style as the most suitable in the fast-paced ever changing world, supported by at least 4 other styles that can assist the leader in 80% of circumstances.
One thing that remains constant regardless, is that there is no one style to suit every occasion and leaders must be able to call on using a multitude of styles interchangeably to suit specific needs and goals of the team and organization, as well as the personality and leadership capabilities of the leader.
Benefits
Every leadership style has its own benefits and uses. The best way to make use of this knowledge is to understand what style you identify the most with and work with that. You might need to tweak the styles a bit or maybe take aspects of different styles to find what works best for you. This is where executive coaching comes in.
Experienced coaches can help you figure out where you might need help the most and come up with plans and strategies to improve your performance by working on your strengths and weaknesses.
Executive coaching can help improve leadership skills by providing individuals with feedback and helping them to identify areas in which they need to improve. Coaches can also provide guidance on how to develop better communication and problem-solving skills, as well as how to become more effective leaders. Executive coaching can also help leaders to better understand their own strengths and weaknesses, which can make them more effective managers.
Executive coaching is a critical business function that can offer significant benefits to organizations of all sizes. By providing impartial, confidential support to executives, coaches can help them overcome challenges, optimize performance, and improve their decision-making skills.
“If your actions inspire others to dream more, learn more,
Do more and become more, you are a leader”
-John Quincy Adams
“In recent years many leaders have hired external coaches and there are some that have gone further, conceptualizing their jobs as executives as fundamentally about coaching. An example of a great coach is Bill Campbell, who started his career as coach of Columbia University’s football team and later became known as the “Coach of Silicon Valley.” Bill acted as a trusted confidant and executive coach to many of the entrepreneurs who built Silicon Valley. Campbell rejected the notion of “command-and-control” leadership, saying, “Your title makes you a manager; your people make you a leader” (George & Clayton, 2022) [4].
Coaching also enables leaders to develop a better understanding of their own strengths and weaknesses, which can lead to more effective management and greater success. The leadership style of the executive is important to keep in mind for all coaches.
In addition, coaching can help teams work more effectively together by fostering trust and communication. Ultimately, the benefits of executive coaching can be felt throughout an organization, resulting in improved productivity, efficiency, and morale.
Conclusion
Executive coaching has become an important part of many businesses, as it can help improve employee productivity and satisfaction. Coaching can help employees learn new skills, develop better work habits, and resolve conflicts.
In addition, executive coaching can also help business leaders improve their own skills, such as communication and decision-making. It can be a very effective tool to improve a business’s overall performance.
“There is a need for strong leaders now more than ever before. We need executives that can overcome the difficult hurdles of the current business environment. This is why personalization in learning is becoming increasingly important. Challenges are no longer simple and require multiple teams and perspectives to overcome. This problem can be made easier by receiving direct mentoring from experienced professionals” (Sharma, 2022) [5].
The process can help businesses achieve success by improving leadership skills and navigating challenges. Coaching can help leaders become more effective in their roles and provide direction for the future.
“Executives and HR managers know coaching is the most potent tool
For inducing positive personal change, ensuring better
Than average odds of success and making the change stick for the long term”
-The Ivy Business Journal
As we look ahead to 2023, it’s important for executives to be aware of their leadership style and how it impacts their effectiveness as a leader. Whatever leadership style you find most suitable, it’s important to continually evaluate the outcome of your approach and consider if it is serving you and your team well.
If you’re looking to improve your leadership skills, consider seeking out executive leadership coaching or other resources to help you grow and develop as a leader. Remember, effective leadership is a journey, and it’s important to continuously learn and grow as a leader in order to achieve success in your role.
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Coaching 4 Companies – Your premier executive coaching service
We are a young, vibrant, and diverse executive career coaching group, with the operation registered in 2019, however, the formation was a 45-year career lifetime in preparation. During that period our founder Wayne Brown observed and worked with leaders of all levels in organizations across industries and cultures globally.
Based on that exposure, our company has intentionally set out to support those practicing the art and science of leadership – or as often referred to, “Executive Talent.” These are people who acknowledge that they are not experts. They are open to opportunities for continued growth and carry the desire for learning what is needed to become a success in today’s complexity and uncertainty.
To this end, we have purposely structured our company and engaged with associates in strategic global locations, so that we are able to provide the full suite of transformational executive career coaching, facilitation, and education support required.
References
[1]: Luciana Paulise, 13th December 2022, 12 Leadership Skills For Growing Teams In 2023
[2]: Matthew Stogdon, 16th December 2022, What Is Leadership Coaching And How Is It Beneficial To Your Business?
[3]: Kendra Cherry, 14th November 2022, How to Lead: 6 Leadership Styles and Frameworks
[4]: Bill George & Zach Clayton, 6th October 2022, Successful Leaders Are Great Coaches
[5]: Deeksha Sharma, 26th December 2022, The 10 Leadership Development Trends Set To Rule In 2023
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