Today the concept of employing a business coach is proving more popular than ever, with close to 40% of the FTSE 100 chief executives claiming to have used, or are currently using, a business coach.

And it’s easy to see why. Business coaching is particularly effective in times of change, and there has been no more dramatic change in the business landscape than over the last 18 months!

Many years have elapsed since we last saw an economic recession, so it stands to reason that the vast majority of managers don’t have first hand experience of operating in such tough conditions. This is one of the reasons why many managers turn to a business coach for guidance and support.

Also, firms are adapting to their changing circumstances by shuffling their management teams. So a finance director may be elected to the board, a VP may become partner and a COO might find himself the new CEO. Handling the demands of a new and unfamiliar role isn’t easy at the best of times, but add to that the pressures of a recession, and business coaching becomes an attractive proposition.

You may think that business coaching is aimed at helping underperforming managers improve, but that’s not the case. Even the most successful people need a coach, whatever their profession. Tiger Woods is the most successful golfer in the history of the game, yet you don’t hear him saying ‘you know what, I’m so good at what I do, I don’t need a coach any more.’ This is because coaching doesn’t just help people improve, just as importantly it helps them stay at the top of their game.

The aim of business coaching is to enable people to achieve their maximum potential. And for those that find themselves in a new and unfamiliar role, it can offer a safe and confidential forum to talk openly about their concerns.

In today’s turbulent business climate, one-on-one business coaching offers a very effective and relatively low cost way of enhancing management performance. For many senior managers, coaching is their preferred method of personal development, as it is specifically tailored to meet their individual needs, takes place at their offices and is made to fit their timescale.

Business coaching is better than attending a week-long course, as it’s relevant not to a group of people, but to just one person: you. Nor does it eat into valuable working time with lengthy absences from the office.

The bottom line is that coaching is proven to be effective. It’s not a soft pep talk that leaves you with a warm feeling of assurance. It’s hard and challenging and asks tough questions. But in doing so it gets results. Above all it’s about setting goals, achieving change and improving financial performance. That’s why, in a recession, it should be an essential weapon in your armoury.

By Ruth Storm - Partner, IRRfc

Finding out what makes your people tick is easy if you ask the right questions. And you might learn a few things about them which will help you manage them better. So when you sit down with them, ask the following questions in a non-threatening way. 

What do you want to get out of this job?
Make sure you cover three perspectives: financial, the role itself and a personal perspective.

Everyone is motivated financially, but to varying degrees. For many, job satisfaction is equally important and for some people at some stages during their career, being able to manage family matters can dominate.  Try to understand what gets them up in the morning. And what would stop them wanting to bound into the office with energy and enthusiasm.

How do you see this changing in the medium and long term?
Priorities change in people’s lives and many people will already be thinking ahead.  Talk to them about how they see the future and the changing requirements they expect to have. You’ll find that a number of them will have been keen to talk to you about something but haven’t found the right moment to do it. Presenting them with the opportunity to talk will help them as well as you.

How are you finding your work/life balance in the current market?
Some people are wholly career orientated and others value their home life more than they do their working life, but the majority of people would prefer to strike a balance between the two. It’s important to ensure that everyone is able to strike this balance. In the long run you’ll benefit from a team member with a stable home life even if you lose a few workplace hours along the way.

What can we do to help you achieve your aims?
You may not be able to deliver on all of their suggestions, but there are almost always one or two small things you can do immediately which will make a big difference: for example it might be as simple as leaving a bit earlier on Fridays or working from home occasionally.

You might also find that by talking to each person about where they see their own strengths, you can redeploy or reallocate tasks based on their areas of interest and skills.

So how might you unearth hidden talents? Again, by asking the right questions.

Where do you think your strengths lie?
Everyone will have a clear picture of their own strengths and weaknesses. They will tend to be over modest as it is a natural reaction to seek praise. Give it if it’s due.

Where could you extend your impact on the business and add further value?
It is helpful if they identify the areas they would like to expand into. Do their thoughts coincide with yours?

What do you think helps you to work at the best of your ability?
Ask questions about their preferred working style. Some people like to work as part of a team whereas others prefer to work solo, some are good problem solvers, and others are strong negotiators, some creative, others systematic in approach.

It may be worth running some simple exercises so that you can assess people’s strengths in a team environment. You will be able to identify who takes the lead, who is the natural project manager, who looks after the team, and who is the maverick. We can help you with these.

You may think that the place for all of this is annual appraisal and professional review process. But there’s a place for the informal route as well – you’ll probably learn more and it will be perceived as a less risky environment. So try it out on one or two people. They’ll think it’s great. After all, who doesn’t like to talk about themselves?

So you’ve arranged a one to one with each of your team. Opening and maintaining lines of communication with the team can engage your people while at the same time gaining a new, fresh perspective on the issues you face. You might also find you have people with skills and ambitions that can offer a valuable contribution in other areas of the business.

But how do you start the ball rolling? 

Here are a few key questions designed to elicit the information you need.

Before you start asking the questions, let the person know that this is a no risk conversation and that you have three main aims:

1. to find out a bit more about them and what’s important to them,
2. to get some honest feedback on the firm and
3. to hear their ideas about the future direction of the business.

What first attracted you to the firm?
Their answer will probably fall into two areas: values and environmental factors. It’s important to make sure that the values that attracted the person to the firm when they joined are still perceived to be there. Many things may have changed with current market conditions and businesses constantly need to evolve. Whereas this is healthy and necessary, you need to make sure that you don’t lose sight of the core values that brought people to the company in the first place.

Where has the company lived up to or fallen short of your expectations?
Assessing where the company has met, exceeded or indeed fallen short of an individual’s expectations, can identify what aspects of the business need fine tuning. You’ll also discover more about your people and their goals and aspirations.

What do you think the main hurdles are that the firm must clear?
You probably have a pretty good idea of what the problems are from your perspective, but it can only serve you better to find out what the people on the ground think. Seeking their opinion will also assure them that they are a vital component in the machinery of the company. Further still, ask them how they would go about tackling the issues – you may find you unearth one or two expert problem solvers.

How do you think you can contribute best to the firm going forward?
It’s helpful to understand how each person sees their contribution, strengths and weaknesses. In this way you can best align career expectations with your needs. When team members have a clear understanding of their career path, they acquire a sense of direction and can focus on achieving their goals.