EXECUTIVE COACHING

							  CUMA Conference 2005



Where Credit Union Managers Connect
              CUMA Welcomes


Peter Bedard People First Inc.

    “Holding up the Mirror! Executive Coaching…”
                       Introduction


• Why are you here?

• People First Model of Alignment
  Vision
PURPOSE
  Mission
MISSION
  Values
 VALUES
                               Some Statistics

• “Between 25 percent and 45 percent of Fortune
  500 companies use executive coaches.” Survey
  by The Hay Group,
• Metropolitan Life Financial Services
  – retained all of the salespeople who had coaching
  – each representative who leaves a company with three
    years’ experience cost $140,000 to replace.
  – the coaching program which cost about $620,000,
    delivered $3.2 million in measurable gains: A 5.16 ROI.
    The Rowell Consulting Group
                                   More Numbers

• “…a full ROI study on an executive coaching program that
  produced a return on investment of nearly $3 million per
  year or 689 percent.” Ed Cohen, senior director at the
  Center for Performance Excellence
• According to a study done by the Manchester Group,
  organizational benefits from coaching include:
   –   Improved Relationships      77%
   –   Improved Teamwork           67%
   –   Improved Job Satisfaction   61%
   –   Improved Productivity       53%
   –   Improved Quality            48%
                                            Exercise


1. Write down names of people you know or
   know of when you hear the word coach.



           2. Write down the top 3 attributes that you
              think of when you hear the word coach.
Are these what you pictured?
                    An Executive Coach
• “holds up the mirror”
• offers an outside perspective
• creates a safe haven for executives to admit their own
  desires and fears
• motivates the executive to clearly articulate his or her
  vision for the organization or department
• helps executive set stretch goals
• acts a sounding board for ideas related to managing the
  team
• holds the executive accountable for living the
  organization’s values
• connects the individual with specialists as required
            Coaching the executive team
• fosters more openness from those who may feel
  threatened by “Right Hand” or by HR
• says the things that team members are thinking or feeling
  but are afraid to say
• can act as “integrator” with overall team
• observes the next level of implementation and provides
  timely feedback
• helps to “translate” leader’s vision and intentions
• removes “power of the pen” in meetings by acting in a
  facilitation role
• introduces timely learning opportunities
• helps overcome natural team dysfunctions
                            The 5 Dysfunctions of a Team

                                                                                                 Result
                                                          Inattention
   Dysfunction                                                to        Status and Ego
                                                          Results
                                                         Avoidance of
                                                                           Low Standards
                                                  Accountability
                                                            Lack of
                                                                               Ambiguity
                                                   Commitment
                                                           Fear of
                                                       Conflict                  Artificial Harmony

                                                        Absence of                       Invulnerability
                                                            Trust


Taken from The Five Dysfunctions of a Team – Patrick Lencioni
                     Executive coaching

Can be confused with…
…consulting
…mentoring
…teaching
…advising

Shouldn’t be confused with…
…managing
                   What isn’t coaching?
•   a therapist relationship
•   a judgmental relationship
•   a nodding head / ego-stroking
•   a structured relationship
•   an execution role or line position – coaches work through
    the client
•   a proxy role – “on behalf of the CEO you should do that”
•   off-the-shelf
•   measurable – leap of faith
•   forever
     Qualities of a good executive coach

•   Relevant / transferable business experience
•   Good interpersonal skills
•   Emotional “radar”
•   Political savvy
•   Flexibility and creativity
•   Tough love
•   Organizational insight
•   Comfort with the top but happy in the background
Why an External Coach vs. “Right-hand”

  • perceived objectivity
  • comfort with vulnerability – should be working self
    out of a job
  • less fear of recrimination
  • may be able to use more than one, depending on
    circumstances and specialty required
  • easy to change when timing and “fit” change
  • trained as advisor not as technical Subject Matter
    Expert
  • Hopefully, less political
Possible downsides to using an external coach

   • may be perceived as a “mole”; creates suspicion
   • may lack suitable business knowledge to put into
     context
   • cost; may be perceived as luxury
   • may become a crutch; held solely accountable for
     lack of leadership or team performance
   • there is no “silver bullet” in Leadership
        What can coaching help you do?

•   Ensure alignment
•   Develop Potential Leaders
•   Select and Retain Key Talent
•   Succession Planning
•   Create an Engaged Workforce
•   Improve Company Flexibility and Responsiveness
•   Increase Innovation
•   Increase efficiency and reduce costs
How do you know if you need a coach?

• look at the executive team dynamic –
  communication, support, meetings, sharing
  best practices
• when an individual is taking on a new
  assignment
• when a person is developing new
  leadership and management techniques
• When you wish to build interpersonal and
  team skills
                     CUMA Luncheon
Sponsored by Silver Sponsor…
        Executive Breakout Workshops
                    1:00PM – 2:30PM
• Workshop #3 – Tom Thomson
  – Holding up the Mirror! Executive Coaching…


• Workshop #4– Varley
  – Implementing DICO’s Revised Bylaw #5

• Workshop #6 – Governor General
  – Trends in Retail Service Delivery

• Workshop #7 – Carmichael/Jackson
  – Acquiring, Retaining & Growing Profitable Members