Brought to you by Ellig Group:
The past two years have been full of monumental changes and disruption for leaders and businesses alike. Conventional business practices have been replaced with a new reality that still remains uncertain. Things we once took for granted, such as seeing our colleagues in the office every day, have been replaced with a new normal of hybrid working – or working from home altogether. And this is not expected to change any time soon.
Research from McKinsey found that, “more than 20 percent of the global workforce (most of them in high-skilled jobs in sectors such as finance, insurance, and IT) could work the majority of its time away from the office—and be just as effective.”
Furthermore, both the rapid pace of work and its’ increasing digitization, for example, are here to stay. The same McKinsey report found that, “The great acceleration in the use of technology, digitization, and new forms of working is going to be sustained. Many executives reported that they moved 20 to 25 times faster than they thought possible on things like building supply-chain redundancies, improving data security, and increasing the use of advanced technologies in operations.”
Since the once predictable is now unpredictable, how can leaders conquer this new reality? The answer is by acquiring new skills and honing existing talents. Training Magazine says, “The ‘New Normal’ post-pandemic workplace represents a new reality requiring new executive skills.”
Amidst such unprecedented disruption, how do leaders acquire these new skills, while still driving impact and growth in their businesses? One way is by investing in themselves and their own professional development through executive coaching.
As executives adapt to the new normal and seek ways to optimize their leadership, the forecast for coaching is strong. Research from the International Coaching Federation found that, “Almost two in three (65%) of internal coach practitioners and those who practice both internal and external coaching felt that the role of coaching within their organization will become more important over the next six months.”
While a consultant answers questions, a coach questions answers – and that’s where the real growth happens. In this new reality, a coach can help executives compete, succeed, and lead by developing and refining vital skills.
What critical skills are most needed in this current climate of uncertainty and disruption? Here are a few:
Today’s leaders know that change is a constant and adapting to change is a must. But it’s equally important to go beyond simply adapting to change to actually being the driving force behind transformation. An executive coach can help leaders shift into a transformational mindset that enables them to unleash their strategic agenda in a powerful and lasting way.
The global pace of change is unparalleled, we are on demand 24/7, and burn out is increasingly on the horizon. While we cannot control the soaring demands of work and life, we can learn to control our responses to these challenges. By working with an executive coach to build resilience, leaders can create and hone the support mechanisms necessary to building a powerful resilience.
We know that smart employees gravitate towards inspirational leaders, stay with them during good and bad times alike and follow them from one organization to the next. These beacons for talent lead by inspiring others to be the best versions of themselves, giving them opportunities for growth and development, and championing their successes with other senior leaders. An executive coach can work with leaders to cultivate a culture of inspiration and followership.
Article written by Barbara Stahley. Managing Director of Executive Coaching for Ellig Group.