Is executive coaching just "useful therapy"?

I read two things about coaching this past week that made me pause and think.

1. An article in the Economist - Executive Coaching is Useful Therapy You Can Expense.

2. This Reddit thread👇🏼

Given the title, I expected the Economist article to have a negative take on coaching. Actually, the author’s view is positive but inaccurate. Coaching is absolutely NOT therapy.

I chuckled at the Reddit thread. First on the list of professions with “the most f’d up people” is “Life Coaches”, ahead of politicians and car sales representatives.

I’m NOT a life coach, but I have friends who are… and they’re definitely not f’d up.

Both the Economist article and the Reddit thread highlight that many people don’t really understand coaching and its value.

So, today I will share my point of view on the value of executive coaching.

Executive coaching solves three challenges:

• Managers don’t have the time or skills to coach. Some managers are decent coaches, but many first-hand conversations and surveys have convinced me it’s very rare. Most managers don’t spend much time coaching. Those who coach often do it poorly.

• It’s lonely at the top. The higher a leader ascends up the organizational hierarchy, the less likely it is that they have people within the organization who they can rely on to support their development.

• It’s hard to coach yourself. It’s easier to develop and grow when we have support from others. This is why I personally work with coaches to improve as a coach and business person.

7 Benefits of Working with an Executive Coach

Working with a good coach offers benefits that are difficult to find in other ways.

1. Support through all stages of development.

Five elements must be in place for development to occur:

• Insight - Awareness of what you need to develop.

• Motivation - Willingness to put forth the effort to develop it.

• Capabilities - Attaining the knowledge, skills, and abilities.

• Real-World Practice - Applying capabilities in a real setting.

• Accountability - Measuring performance and being held responsible for progress.

(Source: David Peterson, 7 Paths Forward, LLC)

Often leaders are left to cobble together support through each of these five areas.

But unlike other development strategies, coaching supports leaders through all five elements in one package.

2. An objective perspective.

We are plagued by cognitive biases and often have trouble moving past our myopic subjective perceptions. Coaches challenge assumptions and help us think more broadly.

3. Accountability for progress on goals.

We tend to either be too easy on ourselves or too hard on ourselves. Coaches work with clients to hold themselves accountable for progress in a realistic, balanced way.

4. Useful knowledge and experience.

Good executive coaches have seen a lot. They curate and create frameworks and tools that help clients with common needs. They’ve worked with many clients and bring valuable experience to their engagements.

5. Support through challenges.

They serve as trusted sounding boards - listening, empathizing, challenging, and working with clients to reframe thinking when needed.

6. Focus on the critical few next steps.

The many possible next steps a leader could take in any situation can be overwhelming. Coaches help clients prioritize and select the few steps that will make the most difference.

7. A safe sounding board.

Clients need someone to talk to. They need to process their thoughts and feelings honestly and openly. The confidentiality of coaching engagements creates the psychological safety for this to happen.

I could go on. This isn’t an exhaustive list. But these seven benefits go far beyond “useful therapy you can expense” and make executive coaching a valuable strategy that’s worth the investment for many leaders.

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