Here's one way to look at it. If an experience—through coaching or anything else—reveals an interest that leads an executive away from the firm, everyone stands to gain. The executive finds a better fit and, ideally, a space in the firm becomes available to someone who is motivated by the challenges at hand. It's much the same thinking that companies have gone through regarding leadership-development programs at large. The occasional departure of a manager in whom the firm has invested a great deal is offset many times over by the increased value of those who remain.
Ajay Jagtiani, a principal with Miles and Stockbridge, had just hired a coach to help him navigate the environment at his new law firm when he had a heart attack. He had planned to use the coach to adapt to the new culture, decode political factions and crush it on the way to becoming managing partner. The heart attack changed everything. “I was young enough to survive it, but old enough to appreciate it,” he explained.
Business coaching is a type of human resource development for business leaders. It provides positive support, feedback and advice on an individual or group basis to improve personal effectiveness in the business setting, many a time focusing on behavioural changes through psychometrics or 360-degree feedback. Business coaching is also called executive coaching, corporate coaching or leadership coaching. Coaches help their clients advance towards specific professional goals. These include career transition, interpersonal and professional communication, performance management, organizational effectiveness, managing career and personal changes, developing executive presence, enhancing strategic thinking, dealing effectively with conflict, and building an effective team within an organization. An industrial organizational psychologist is one example of executive coach. Business coaching is not restricted to external experts or providers. Many organizations expect their senior leaders and middle managers to coach their team members to reach higher levels of performance, increased job satisfaction, personal growth, and career development. Research studies suggest that executive coaching has a positive impact on workplace performance.