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Is Executive Coaching Worth the Investment? TVG's Guide on Executive Coaching

Updated: Jun 12

4.5 billion dollars.


Did you know that's the revenue estimate for the global coaching industry in 2024?


This reflects an increase of 62% from 2019, and that trend is expected to continue (source).

This is certainly great news for Leadership Development firms like ours!


At TVG, Executive Coaching is a core part of our client work - and together, our team has had the distinct pleasure of coaching 100s of business leaders - from newly promoted managers through more seasoned C-Suite Executives.


Interestingly, regardless of career level or experience, a majority of our coaching clients have never formally worked with a coach.


As we're exploring coaching as a solution, we often hear questions like:

What is Executive/Leadership coaching anyway? ⁣

Who is a good candidate to work with a coach and what impact does coaching have on the individual, their team or function, and the organization? ⁣

How do you decide which coach might be a good fit?

So, let's talk about it and dive into the world of Executive Coaching!


Within this guide, we'll walk you through the realm of Executive Coaching, structured into four essential parts:


1. What is Executive or Leadership Coaching?


2. Who is a good candidate to engage with an Executive/Leadership Coach?


3. What outcomes can a Leader, Team, and Organization expect after investing in Executive Coaching?


4. How do I know if my company is ready to invest in Executive Coaching?


Our hope is that this helps you decide where and when to invest in coaching for yourself, your leaders, or your company.


 

Part 1: What is Executive or Leadership Coaching?



What is executive or leadership coaching?

Simply put, Executive Coaching is a professional learning and development process that involves a one-on-one partnership between an educated and well-trained coach and a leader.⁣


⁣The focus of the coaching can - and should - vary based on the leader's current context, development needs, and desired outcomes; however, coaching often focuses on helping leaders build self-awareness, understand their reputation and impact, enhance leadership capabilities, and experiment with/build new skills.⁣


This is all done in the context of a confidential, trusted partnership wherein the coach provides space for reflection, experimentation, and subsequent action.


Executive Coaches are often brought in to help leaders navigate transitions, overcome intense change, learn to lead at higher levels, or actualize their potential and have outsized impact for their company.

As an example, our TVG Coaching team has recently helped the leaders we support:


  • Develop coaching skills to empower others strategically


  • Navigate complex stakeholder relationships adeptly


  • Communicate thoughts compellingly and persuasively


  • Motivate and engage teams effectively around their vision


  • Transition from tactical to strategic operations seamlessly


  • Manage energy, time, and attention for sustainable results


  • Navigate work-life conflicts and career transitions smoothly


 

Part 2: Who is a good candidate to engage with an Executive/Leadership Coach?



Who is a good candidate to engage with an Executive Coach?

How do you know if someone (you, included!) might be a good candidate for Coaching?⁣


⁣At TVG, we truly believe that anyone can gain value from a great coaching relationship (that's why we do what we do!); but that insight alone isn't very useful. ⁣


⁣More traditional Executive Coaching often comes with a relatively high price-tag, so before making the investment, it's important to understand who a good coaching candidate will be, as well as who will make the most of the investment.⁣


⁣This can be considered from two angles – (1) the personal characteristics that lend to someone being coachable, and (2) the situational factors that create conditions where coaching is highly impactful.⁣

⁣What characteristics lend to a good coaching candidate?⁣


⁣From our friends at Coachability Consultants, Inc., we know that coachability is defined as: "proactively seeking out feedback from a variety of sources, demonstrating receptivity and openness to feedback, and acting on feedback by implementing new ideas to maximize growth."


⁣These elements are key to a coachee getting the most from an Executive Coaching engagement.⁣


Next, what situational factors create conditions for coaching?


  • Navigating career transitions, whether big or small


  • Taking on leadership responsibilities for the first time or expanding managerial scope


  • Adapting to increased demands or resource constraints


  • Pursuing ambitious goals within tight timeframes


  • Managing life transitions such as family expansion, relocation, or remote work adoption


  • Facing challenges in skill development or adapting to new responsibilities


  • Identified as high potential or a key candidate for future leadership roles


  • Seeking support in senior roles, where leadership can be isolating, from a trusted advisor


...and many more!⁣


 

Part 3: What Outcomes Can a Leader, Team, and Organization Expect After Investing in Executive Coaching?


What outcomes can a leader, team, or organization expect from Executive Coaching?

Now, let's explore the outcomes you, your team, and your organization can expect after investing in a high quality leadership coaching engagement. ⁣


Individuals who engage in coaching can expect to:⁣


  • Gain impactful self-insight and enhance self-awareness⁣


  • Expand their views by understanding how common situations may be viewed in new and different ways⁣


  • Develop lasting leadership skills and capabilities⁣


  • Set and make progress toward goals, both professional and personal⁣


  • Be better equipped to achieve extraordinary results on their own and through others⁣


 

At the team-level, individuals who work for a leader being coached may experience:⁣


  • A more positive, developmental work environment, which can lead to higher engagement and morale⁣


  • Increased support, empathy, AND accountability - a trio of leadership behaviors that lend to strong results and a climate where employees can thrive⁣


  • Working for a leader who is energized and supported themselves, which spills over into employee-leader relationships⁣


 

And, finally, from an organizational perspective, when leaders received coaching and support, the organization may experience:⁣


  • A positive workplace culture and environment where employees can thrive⁣


  • Improved capacity for attracting, retaining, & engaging high potential talent⁣


  • Maximized performance and results⁣


  • A stronger, more defined leadership culture and set of behaviors


Overall, the benefits of coaching expand across levels and help leaders cultivate cultures where their employees can truly thrive!


And we're not saying this because we're coaches ourselves, the research supports this too.⁣


 

Part 4: How do I know if my company is ready for Executive Coaching?




Four Indicators to Evaluate if you're ready for Executive Coaching

In the final part of TVG's guide on Executive Coaching, we'll explore some indicators that suggest that your company is ready to invest in leadership coaching.


Executive Coaching is an investment in your leaders' career growth and development. Determining if your leaders are ready for coaching involves some diagnosis and an understanding of your current needs and goals.

Contemplating partnering with a team of coaches to strengthen your leadership bench and help your leaders and teams thrive?


Here are some key indicators that might suggest it's the right move.


Your leaders are:


Ready for Experimentation

Being open to trying new approaches and perspectives, embracing trial and error, and being receptive to direct feedback are essential traits for successful executive coaching.


Willing to Take Personality Responsibility for Their Development

Acknowledging personal accountability for growth, rather than placing blame on external factors, is crucial. Taking charge of your development journey involves recognizing and controlling what you can influence.


Motivated to Embrace Discomfort

Transitioning from old habits to new ones and accepting the discomfort and challenges that come with growth requires discipline and resilience.


Hungry for Feedback and Self-Improvement

Being open to receiving constructive feedback, even when it's challenging, and demonstrating a commitment to continuous self-improvement are key characteristics of individuals poised for growth through coaching.


If your organization resonates with several of these indicators and is committed to fostering personal and professional development among its leaders, you may be ready to explore Executive Coaching as a valuable resource.


Reach out to TVG today—we'd love to pair your leaders with one of our experienced PhD Executive Coaches.
The Dr. is in!

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