The Importance of Coaching in Leading a Successful Business

Recent changes in the workplace caused by the COVID-19 pandemic are heavily affecting professionals in leadership positions. The alarming figures emphasize the importance of coaching across all industries.

Nearly 60 percent of business leaders worldwide reported indications of feeling burnout in the DDI 2021 Global Leadership Forecast. Moreover, 44 percent of leaders who feel used up at the end of the day expect to change companies. Almost a quarter of these leaders intend to change companies within the following year. With nearly half of business leaders at risk of leaving their companies, the need for coaching programs becomes more evident. Read more about the importance of coaching and training in developing leaders and empowered employees.

Coaching versus Training: What’s the Difference?

Employee training programs impart new knowledge and skills to employees to improve efficiency. For instance, the tailor-made employee training programs that Damalion offers can teach valuable skills such as how to lead market research, improve sales performance, and grow the customer base. Additionally, Damalion’s training programs not only give new skills and industry tips. These programs also empower employees to tackle daily tasks as entrepreneurs.

On the other hand, coaching involves a professional who guides an individual on maximizing their skills to achieve growth. Business coaching leads entrepreneurs and professionals to achieve their goals through tools and strategies tailored for their skill set. The process includes assessing their objectives, making changes, and boosting their performance. While coaching is widely associated with business owners and executives as clients, the industry has also evolved into non-executive coaching.

The rise of coaching in different industries, especially in businesses in Europe, often comes as sponsored coaching, where employees receive coaching that is a requirement for employment, specialized training, or professional education. In this case, companies hire firms like Damalion, which offers leadership development programs tailored for various positions like directors, transition managers, and other individual talents.

Benefits of Hiring an External Coach

Companies may start coaching their employees internally. In this case, leaders within their organization coach their juniors. However, this setup carries certain risks to organization performance. First, the additional workload may compromise the leader’s overall work. Also, office politics and power relations within the company may hinder the desired outcome of coaching. In such cases, hiring an external coach may be the better option. The importance of coaching from an external point of view can be seen in its benefits:

  • Access to specialized skills of experts. With many industry veterans choosing to become independent consultants, you may be able to learn from high-caliber experts by getting them as a coach. For example, getting the training and coaching services of Damalion gives you access to the international customer development expertise of its talents.
  • Open and objective partnership. An external coach ensures that no office politics and internal issues will affect the coaching process. It also allows the coach to give critical opinions without worrying about their working relationship within the company.
  • No additional workload for business leaders. As business leaders also feel the impact of recent crises and need one-to-one coaching, an external coach ensures that work performance will not be affected further.

The Importance of Coaching in Leadership Development

Leadership development programs like Damalion’s coaching services often help business leaders unlock their potential and maximize their skills. The importance of coaching in business materializes when leaders start to translate their improvements into better team performances. Damalion, in particular, uses a behavior-centric approach that helps employees see what blocks them from achieving their objectives.

The gains of one-to-one coaching not only benefit a single employee but the business team as a whole. As Damalion helps business leaders perceive themselves and their interaction with others, professionals get to improve their behavior to boost their performance in the workplace.

Get Training and Coaching Support from Damalion

In a constantly changing business world, much evidence points to the importance of coaching in improving and strengthening your business. Make sure that your executives and talents are well-equipped to handle disruptions without heavy burnout. Learn more about how Damalion can support your training and coaching programs here.