FAQs Archive - TechCXO

Q: Why is it worth it? Will I get an ROI?

You most-definitely will. But, don’t take our word for it. A Metrix Global study found that executive coaching has a 788% return on investment (ROI). The International Coaching Federation (ICF) reports an increase in individual performance of 70%, including higher goal attainment, clearer communication, and higher satisfaction. Here’s another way to look at it. If you don’t invest in your new executive and he/she “isn’t ready”, the organization will be faced with the high costs of: replacing the executive in 18-24 months and likely paying a higher salary and recruiting fees to hire externally major delays in strategic initiatives being completed and delivering on their intended outcomes, loss of talented subordinate team members who lose faith in upward mobility opportunities, low employee engagement scores from teams that are simply frustrated working for the struggling executive, and marginalized cohesion, impact, and collaboration of the senior leadership team. https://youtu.be/0e3WsP8pz4s

Q: Is coaching purely soft skills for the new executive, or can the engagement be objectives-based?

Coaching for new executives at TechCXO is not just about developing soft skills. While we do address the emotional challenges and pressures that come with the new role, our coaching program is highly valued because it delivers concrete results. To ensure a successful coaching engagement, the sponsoring executive, along with the new executive, will meet with the coach to establish clear expectations and guidelines. This helps in maximizing the tangible outcomes of the coaching process. Throughout the engagement, the new executive will enhance their self-awareness, gain clarity on their perspective, and improve their communication skills. They will have a trusted sounding board to exchange ideas and learn tactical and strategic best practices. By reducing self-doubt and making faster, informed decisions, the new executive will significantly increase their productivity and ultimately deliver a higher return on investment. At TechCXO, our coaching program goes beyond soft skills and focuses on achieving measurable objectives. We understand the importance of delivering clear outcomes that benefit both the individual and the organization.

Q: What is THE #1 reason why newly promoted executives fail in their new roles?

The reason why newly promoted executives fail in their new roles is due to fear, specifically the fear of failure. Though the stated reason for removing the new executive may be one of a multitude of reasons, such as procrastination, second-guessing themselves, aggressive defiance, poor time management, productivity, change resistance, poor delegation, frustration, defeated attitude, overwhelm, poor results, and siloed behavior, when one digs down into “what went wrong”, we observe a recurring theme. The new executive was not able to remove the obstacles that fear was putting in the path toward success. Therefore, our focus during executive coaching sessions for new executives is centered on helping them tackle and harness this fear. While the concept itself may seem simple, putting it into practice is complex. However, when executed effectively, it has the potential to transform their lives. To gain valuable insights on this topic, we highly recommend reading this article by Matt Oess , TechCXO's Coaching Practice Leader.