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The benefits to Directors of coaching.

More and more CEO's and Directors these days are receiving 1 to 1 coaching support. A recent Survey by The Hay Group about executive coaching revealed that at least 75% of FTSE 100 Companies have some sort of coaching programme for their most senior leaders.
So what is behind this rapid increase in coaching suuport for executives and what are the benefits that they and their Organisations get from it?
The need to provide hard pressed chief executives with a "lifeline" in the form of objective, independent, coaching support and challenge is felt to be one of the key factors. Another Survey by DBM Consulting showed that 62% of chief executives in Britain have less than 3 years experience in the job and that such short tenure has become fairly typical for British and American owned and led Organisations.
Losing a chief executive rarely does a company any good. For example the shock departure of Somerfield's chief executive recently knocked 47% off the share price the day it was announced!
So in addition to supporting a new chief executive to "find their feet and their voice" when they are newly appointed into a CEO role is important - but not as crucial as helping to support them to survive and perform effectively over a medium to long term period in their existing Organisation!
The benefits to both the individual and to the Organisation from providing objective, independent coaching support are significant. It is a lonely and potentially isolating role at the head of an Organisation and it is very difficult for CEO's and Directors to share their issues, concerns and insecurities with those around them - particularly their direct reports and any peers. The Chair of their Board will often be in a good position to support them - but they also share in the responsibility for the performance of the Organisation and may feel a need to be more directive than supportive of their CEO. An external coach can also be more objective, dispassionate and detached and is likely to be more skilled in their questioning and listening approach. An external coach is much better placed to support the CEO with other non-work related issues that they may be faced with which they cannot easily share with any one else inside the Organisation.
Giving a CEO the medium to long term coaching input can go a long way to help sustain and support them through the ups and downs of corporate life and provide them with the balance and confidence to build and grow their businesse's performance.