Getting the Prodigal Executive Back On Track

While almost all the companies use external coaches, especially for the C-level suite like CEO and CFO, about 60% were now using internal coaches. “External coaches often are used to ‘save’ an executive from failure when it's too late: like closing the barn door after the horse has already gone.” (McDermott, Levinson and Newton: “What Coaching Can and Cannot Do for Your Organization,” Human Resource Planning, June 2007).

According to a study of 55 large companies (95% with annual revenues of more than $1 billion), organization that address derailment risks through the greater use of internal coaches report positive outcomes.

The study went on to conclude that “using internal coaches in derailment cases, in contrast, may signal that the company takes performance issues seriously and is willing to invest the time of its own people, not just dollars, in supporting an employee's efforts to improve.” Never sell yourself short as an internal coach, because you may be better positioned to leverage other company resources and people to help solve the issues that led to derailment.