There are many benefits that come from being promoted inside an organization. You get a higher salary, more respect, and better job description. Many times, promotion brings you a more relaxed working environment. When you are in a lower level job, you get a lot of feedback on your performance. This leads to better productivity and overall efficiency in the work place.
One of the draw backs of being promoted is you lose the opportunity to get other peoples suggestions on how you can improve. Overall, the higher you climb the ladder in the organization, the less chance you have of getting feedback about your performance. Companies need to find ways to evaluate and help their top executives develop.
In today’s modern business world, executives have a very unstructured and uncertain work pattern. Because of this, it can be challenging to have a focused and productive schedule. Many organizations have come to the conclusion that executives at all levels can benefit from coaching discussions with those in a position to observe the results of their actions. It is also good to get feedback from the people that get to see your everyday work patters and overall behavior. It is very important for people to hear how they are performing. If they are doing well, it gives them encouragement to hear about it. If they are doing poor, it is very beneficial to get feedback.
This is the same for people in management positions as well as lower level employees. Many times, people are intimidated to give constructive criticism to executives. Obviously, it needs to be done in a respectful manner, but usually the executive will be appreciative for the comments.
When executives fail at their job, they usually encounter one of the big four problems. These issues have derailed top management all over the globe and will continue to be a problem to all major firms. These problems are: failure to meet business objectives, inability to change or adopt during transition, problems with interpersonal relationships, and failure to build and lead a team.
These four themes cry for personal attention of an experienced business coach. When a company hires a business coach, he has the opportunity to step back and look at things from a different angle. Executive coaching is a new trend in the business world. One-on-one attention can assist in obtaining feedback from direct reports, developing teamwork, and collaboration of skills.