Why Leaders Need Leadership Coaching – Now
Last year 99% of senior leaders of a reputed organization quit within a year of joining. When one of these leaders was interviewed, they said that lack of strategic vision was why they left. What went wrong? The company did not do enough to keep its leaders. What about the leaders themselves? Did they not do their homework before joining? Could they have done something different once they were in? The company spent one bn USD to retain employees in 2021-22. But that alone was not enough evidently. Could transformational leadership coaching have helped?
Some amount of turnover is normal in any organization and can’t be avoided. But mass exodus is unhealthy. Leadership coaching can be a highly effective preventive measure.
Common reasons employees leave organizations
- Bad bosses.
- Individual purpose not aligned with the organization’s
- Don’t get respect
- No psychological safety
- External circumstances, such as relocating to a new place
Why leadership coaching?
Old leadership styles ineffective
The concept of leadership has altered significantly with the beginning of the new millennium. The old alpha male style of leadership is out. Next-gen leaders must develop a new muscle to stay on top of their game—the coaching muscle. Coaching is the future of leadership. Leaders exposed to leadership are more likely to coach their employees.
Improve EQ
Employee well-being is directly proportional to employee performance. It’s time leaders developed their EQ. Displaying empathy and unconditional positive regard can boost employee motivation, increasing productivity. Leadership coaching enables leaders to tap into their EQ and find ways to express it.
A coach narrated an instance of EQ in action. He visited a large textile mill in a tier-two city. The mill had an annual turnover of around 4000 Cr. The mill owner would visit the mill only once or twice a year. But when an employee’s son was hospitalized after a serious accident, the owner visited the patient thrice during his hospital stay! Wouldn’t that one gesture of empathy ensure the loyalty of a lifetime?
Some leaders naturally display this quality. Others can build it with leadership coaching.
Increase agility and resilience
Leadership is about leading oneself effectively and then leading others the same way. When companies do not invest in their leaders, and the leaders do not invest in themselves, both are unprepared for a crisis. This is what the Covid pandemic revealed all too starkly. Research shows that leadership coaching is the best kind of investment an organization/leader can make for their organization/themselves in preparing themselves adequately.
To know more advantages of leadership coaching, read our blog Leadership Coaching for Organizations & Leaders.
Effective leadership coaching strategy
Organizations should ideally introduce mid-level and entry-level leaders to leadership coaching. Senior leaders can access one-to-one coaching and team coaching—at least the former, if not both. Senior leaders need someone outside their organization who is trustworthy, someone who can be their sounding board and cheerleader. Having a leadership coach is a long-term strategy that can prove highly beneficial.
The above are excerpts from my podcast, All About Coaching on Mentza. Tune in for more insights.
