Leadership coaching is widely available; finding an executive coach is almost too easy. Selecting one with criteria that makes sense to you is not as easy. What likely confuses the leader seeking coaching is plowing through the many varieties of leadership coaching choices that are offered. Leadership coaching comes in many flavors, shapes and sizes. While this might sound like an advantage, it contributes to the complexity of selecting a coach and program. Now the busy leader must determine which coaching program will make a difference. A leader’s time, like any professional’s time, is scarce.
You’ve worked hard, you’ve sacrificed, you’ve exceeded expectations, but they chose someone else for that promotion you wanted. It’s extremely disappointing. It’s confusing. It’s painful. It truly sucks. What should you do now?.
“Before he can become a [insert desired role here] he has to pay is dues, just like I did.” Have you heard this point of view? I’ve heard it my entire career. It’s high time to evolve our thinking, to leave this point of view behind.
The phraseology indicates that the dues-paying activities are a sort of penance — nothing more than a cost to the employee of pursuing a particular career goal. If a person isn’t willing to go through this experience they’re not worthy. They don’t want it enough. This reminds me of fraternity initiations..
Human capital is the #1 CEO challenge globally for the third year in a row 2015 Conference Board CEO Challenge. CEO’s know that without the right talent, they can’t maximize the growth and success of their organizations. Developing talent, especially developing leadership talent, comes at a cost. For large companies, spending on leadership development averages over $12,000 per participant on senior-level leaders and over $19,000 per participant on executives. Mature companies with stronger pipelines invest even more, sometimes as much as 2-3 times more Leadership Development Factbook 2014. Companies are making big investments in leadership development, and the stakes are high. These are some of CEO’s top strategies for addressing the human capital challenge:
- Adopting a grow-your-own strategy for filling key roles rather than looking outside the organization (culture fit is a concern)
- Retaining top talent
- Improving leadership effectiveness
Let’s take a deeper dive on each of these strategies and consider the stakes.
This post is third in a series that started with debunking the myth that Millennials are job hoppers. The post that followed dug deeper into what Millennials are looking for from their employers. This post draws from both of those posts to offer specific coaching strategies for Millennials.