The Case for Executive Coaches

by Andy Molino

There are several reasons why organizations are using executive coaches to help achieve their strategic objectives. First, workplace demographics are rapidly changing and organizations are losing experienced executives at an unprecedented rate. The ‘executive vacuum’ created by these departures is being filled by young executives eager to learn but lacking key life and work experiences and, in some cases, even basic management training. Although these experiences themselves are irreplaceable, the lessons learned from them can often be imparted through executive coaching.

The second reason is that both public and private sector environments are undergoing turbulent change, which creates uncertainty, even among seasoned executives. Sage and unbiased guidance, then, becomes a critical commodity for organizations wanting to remain vital and relevant during such ‘interesting’ times.

The key concepts are sage and unbiased. Executives want and respect individuals who have acquired wisdom through challenge, adversity and success. They also want individuals they can trust with confidential personal and business information. Sometimes these individuals can be found within their own organizations, but, more often than not, executives prefer to work with executive coaches who are completely independent.

A third reason for the rise in the popularity of coaching is that, even for competent executives, newly-acquired skills are much more likely to be consolidated through repeated, individualized, expert feedback. We know from adult learning theory that without frequent reiteration newly acquired information is quickly forgotten. Repeated expert feedback and frequent reiteration are key roles for the executive coach.

The upside of demographics creating the ‘executive vacuum’ is that many of the executives leaving the workplace are not leaving the workforce. Retirement actually means starting another career. They:
·     Are younger than similar earlier cohorts
·     Have ‘retired’ in excellent health
·     Have a wealth of knowledge
·     Have extensive experience as senior executives
·     Want to remain active and involved in constructive ventures
·     Want to help younger executives succeed
·     Still have a tremendous amount of energy and drive.

A recent CIBC study looked at this group from an entrepreneurial perspective and found that “one of the most striking developments in the small business sector in recent years has been the rapid growth in the number of entrepreneurs aged 55 and over.” Since 2001, the number of firms run by these ‘seniorpreneurs’ has risen by 140,000, or 30%. These individuals now account for 25% of self-employed individuals in Canada and constitute more than 30% of the total workforce over the age of 55.

Our experience is that some of these individuals have found more than a second career; they have found their true calling as executive coaches. Freed from the burdens of unrealistic deadlines, work-family balance issues, corporate politics and bottom lines, they can now provide a wealth of wisdom to younger executives struggling with just those challenges.



Andy Molino is a senior partner with the CCI Leadership Institute based in Ottawa
www.ccileadership.com.