Executive coaching works so well that there was an approximate 1.5 billion dollars was spent on it just last 2017. Most of the big companies all over the world employ coaches for upper management. So, what makes this concept so attractive to CEOs? What are they hoping to gain from it?
In one study, business coaching professionals were asked what was the main subject area for which they coached CEO’s, the overwhelming answer was “self-awareness.” The second one being “interpersonal skills, listening skills and empathy.” Upon closer inspection of these skills – a portrait of emotional intelligence emerges. An increase in the former results in an increase in the latter, which is extremely crucial for the leadership positions of managers and CEOs.
So, how can executive coaching help out CEOs and managers? Here are some of the reasons as to why:
It Helps Heighten Self-Awareness
As mentioned, self-awareness is one of the main areas in which coaches target – and for good reason; as it’s the catalyst by which growth starts to happen. Without that first step of realization, people blindly continue doing things in the same way as usual.
Improves Self-Regulation
Sometimes, awareness of one’s emotions brings about discipline to control such. At the very least, the task of self-regulation is made more attainable. For instance, picture out a scenario at work where you have to oversee a brand new employee and you face feelings of inferiority; however, you don’t recognize what your feelings are (you’re not aware of yourself). All you know is that you feel uncomfortable, edgy or uneasy when dealing with someone.
Self-awareness is the first step in regulating your emotions and handling situations with ease and comfort. People with high emotional intelligence tend to possess better self-regulation skills.
Promotes High Level of Empathy
Empathy is that special something that allows people to feel how another person is feeling. Chances are if someone empathizes with a problem you may have, you start to feel it. Empathy is a powerful tonic that can soothe the soul of the receiver. Plus, it leads to understanding other people’s emotions and enhanced interactions with business colleagues and subordinates follows.
Improves Your Social Skills
Social skills make up the fabric of a successful relationship, whether it’s in the workplace or anywhere else. Teams with high emotional intelligence, have an abundance of advanced social skills. They have great communication skills, meaning that they can lead without coming across dominating; they negotiate effectively so that all parties feel like it was a win-win situation; they start to work well in teams, fusing together leadership and negotiation skills to help achieve a goal.
As your executive coach, who also is your top wealth coach at the same time, help boost your emotional intelligence quotient, you start to see a positive impact on the workplace environment. Securing an executive coach can reap a ton of good benefits; however, improving self-awareness, and hence, increasing emotional intelligence should always be your top-most priority in your success.