5 Career Trends Leaders and Executives Should Understand

The employment landscape is continuously changing. It’s imperative for team leaders and executives to fully understand the new emerging expectations of their employees and effectively set the stage for them to become fulfilled.

Otherwise? The company itself may experience a loss of productivity, lower employee satisfaction, and even issues with employee retention.

For 2023, one can expect the 3 following career trends to leave a mark on their businesses:

Job Crafting

More and more, people aren’t just looking for jobs that give them a nice paycheck. Ideally, they want a form of employment that can be stimulating and interesting.

This growing need leads to the concept of job crafting, which involves redesigning an employee’s current role in a way that better matches the employee’s goals and strengths.

Job crafting is growing as a trend because the current economic uncertainty is preventing people from quitting even the jobs they hate, regardless of what this decision might do for their emotional and mental health.

Even so, executives should not rest assured that, even for the time being, their employees are staying put. Employee satisfaction directly ties into their productivity and how well an employee contributes to the company.

Career vs. Personal Identity

Though they seek fulfilling jobs, more and more workers are trying to establish a much more strict distinction between who they are as a person, and who they are as an employee.

This trend is emerging because of growing rates of layoffs. When you read stories of people who’ve dedicated their lives to a company, only to be fired in moments of financial crises, suddenly you get the desire to separate these two parts of you.

For executives, this trend showcases how imperative it is to offer employees a positive environment in which they can effectively thrive. Expecting employees to work overtime and go beyond their job description is no longer viable.

The Remote, Hybrid, or In-office Debate Continues

Companies might have hoped that this conversation has been put to rest in 2022, but you can expect it to sound even louder this year.

Flexible working hours and environments are still a major preference for many employees, albeit the reasonings can differ widely. Some workers might want this flexibility to accommodate their personal lives, while others worry about the financial toll of commuting and desire a remote office to cut their costs.

Either way, if your company has managed to stay on the sidelines of the conversation so far, 2023 might be the year where you’ll need to join in.

How Can You Prepare for These Trends?

These career trends showcase some of the changes companies must do in their environments in order to attract, keep, and engage their employees.

Companies should devise a plan for 2023 where they can establish specific steps to take, in order to put some structure behind the process.

An executive or leadership coach may be valuable during this process, as they can help you figure out how to create this effective structure.

 

 

 

 

What Is the “Growth Mindset” and Why It’s Important for Leaders

“Growth mindset” is a term coined by psychologist Dr. Carol Dweck who discovered in a study that neurological activity changes when people focus on the learning process, not just the outcome.

What this means is that the process of acquiring new skills or even knowledge genuinely needs a different mindset. Here’s why this is important for leaders to understand:

What Is a Growth Mindset?

Having a growth mindset essentially means you believe your skills and abilities can grow over time. At first glance, you may assume that’s what everyone believes, but actually, people with a growth mindset are different from the rest.

Specifically, these are the people more likely to accept the learning process and even the mistakes that may occur during it. Moreover, people with a growth mindset are more likely to learn from their mistakes, rather than view them as personal or professional failures.

Because for them, the “reward” of the learning process isn’t ultimately what motivates them. They are driven by the entirely new experience.

Other traits of having a growth mindset can include:

  • Viewing effort as part of the learning process
  • Leading teams with an explicit goal of personal development
  • Not refraining from taking risks
  • Embracing challenges head-on

By comparison, those without a growth mindset (have a “fixed mindset”):

  • Are less likely to take risks
  • May refuse to take on a challenge
  • Believes they are or aren’t good at something right off the bat
  • Tend to blame themselves when things go wrong
  • Feel the need to constantly prove themselves

What Happens When Leaders Shift to a Growth Mindset?

Moving towards a growth mindset can provide leaders with:

  • More confidence and self-esteem
  • More resilience
  • Ability to improve their relationships with staff and executives
  • Even make their daily tasks more enjoyable

How Can Leaders Shift to a Growth Mindset?

Changing the way you think isn’t exactly easy. But like everything, you can learn how to shift your mindset and focus more on growth.

Some strategies that can help include:

Work with a leadership coach – If you don’t have this mindset yet, a leadership coach can help you build it by providing their support and expertise. In a sense, coaches can be that “growth mindset” voice you need to shift your way of thinking;

    • Identify areas for improvement – Accepting your weakness can provide a lot of value since you can see those areas that essentially require growth and learning. It may also help reduce the risk of flat-out dismissing a learning opportunity straight away;
    • Let go of the idea of “perfect” – We all strive for perfectionism, but a lot of times it may hold leaders back. The desire for things to come out perfect can keep you from taking risks and even enjoying your position as a leader.

Transitioning to a growth mindset won’t happen overnight, but with a bit of effort and a lot of patience, you can let go of your limiting fixed mindset.

And once you do, your abilities as a leader may just improve tremendously!

Top 4 Questions CEOs Should Ask For 2023

One of the most important tasks of an executive coach is to help CEO clients ask the right questions.

People in these leadership positions often need to take a step back from the day-to-day of the company and think a few steps ahead. Weaknesses and strengths need to be fully determined. Potential obstacles need to be known and prepared for. Opportunities need to be identified and leveraged fully.

And because 2022 is almost up, it’s time to look ahead at what 2023 can have in store for your company. To do that, you may want to ask yourself these 4 critical questions:

  1. What Future Economic and Geopolitical Issues May Affect Your Business in 2023?

    Companies don’t live in a void. World events, even if physically on the other side of the globe, may have a direct impact on a company’s operations.

    CEOs may need to ask themselves how current economic and geopolitical events could impose certain obstacles in 2023, and the company’s vulnerabilities. Then, it’s worth taking a look at the company’s growth plan to determine how these vulnerabilities may (or may not) slow it down.

  2. How Does the Company Plan to Improve Its Diversity and Inclusion?

    Young workers (Gen Z and Millennials) are known for having a very low tolerance for a lack of diversity and inclusion in the workplace. Companies across the board are facing increased pressures in tackling these issues head-on.

    The task cannot be postponed anymore. Becoming a more inclusive, diverse, and even sustainable company is one of the best ways for companies to attract qualified talent, and retain them better.

  3. What’s Going on in the Company’s Market?

    There are world events, and then there are market events. CEOs will need to take a close look at their industry and identify growing trends and moments that make sense to be leveraged in 2023.

    Whether it’s a new technology, a growing consumer need, or changes in the workforce itself, next year may be the perfect opportunity for CEOs to take their company forward and stay ahead of the curve.

  4. Has the Company Transformed Enough Since the Pandemic?

    The scars of the COVID-19 pandemic are still quite visible. Many businesses have found themselves in the position to make rapid changes out of necessity, from transferring their workforce to a remote work model to even drastically changing their operations to accommodate the “new reality” of lockdowns.

    Some of these changes will go away, others are expected to remain in place. CEOs should figure out which of these changes make sense to keep around.

    Moreover, it may be the perfect time to look over the mistakes of the past and plan for the next potential disruption.

So How Can You Answer These Questions?

An executive coach may help you tackle these issues and make more sense of the noise, but very broadly your job at hand is to:

Gather data.

Analyze.

Plan.

These are the steps one needs to take to effectively take their business further in 2023.

How Do You Measure Success in Coaching?

As more and more individuals and companies are looking for coaching services than ever before, it’s important to talk about how to measure success in this field.

Talk about the benefits of coaching is everywhere. No matter if it’s personal, executive, leadership, or other, the perks of working with a coach have not been lost on anybody.

But let’s imagine ourselves a few months or even a year down the line, as you’re working hard alongside your coach. How can you tell if the process is working for you? What are the metrics that you and your coach should be focusing on to determine if it’s successful?

How Coaching Results Are Usually Measured

Coaching is not a one-size-fits-all approach. Even if a coach works with a specific methodology, their approach will still be personalized to suit the individual needs and expectations of the client. As a result, success itself is defined based on the particularities of each client. Understanding this key aspect of coaching helps reveal the key metrics that should be taken into account when looking to review the coaching results.

So to measure the results, you need to look at the main focus areas of the process and establish the optimal way to review these areas. For instance, how you measure the results can vary widely from one focus area to another.

If the coaching process is designed to assist an employee to assume a leadership position, some metrics that could be useful to track can include:

  • Employee engagement
  • Employee/leadership satisfaction
  • Coaching self-assessments, etc.

This would be a very different review from an instance where a person receives coaching to improve their performance, which may look at:

  • How well the employee reaches targets and goals
  • New skills acquired during coaching
  • How the employee uses their new skills, etc.

How Can You Know If Coaching Was a Success?

Usually, the coach and the client will define success from the get-go to leave little room for interpretations or mistakes. This is done both at an organizational and individual level.

Moreover, it’s important to have a clear picture of where the process starts. To do this, coaches will often ask clients to go through short evaluations that help establish the baseline. These evaluations can then be repeated later on and when compared, the coach and the client can see the areas of improvement (or lack thereof).

At a personal level, of course, there are many other signs that coaching has yielded some benefits for you:

  • Achieving specific goals
  • Increased self-confidence in your abilities
  • Becoming more productive
  • Coming up with new creative ideas
  • Becoming more responsible
  • Becoming more independent and self-sufficient, etc.

Coaching reviews help track the client’s progress and even give the coach a better understanding of the areas that may require more work.

But naturally, you can define your own success when it comes to coaching. What you perceive as beneficial or an improvement is just as important as what the company or even the coach does.

Business Coaches Are Replacing Consultants. Is That Good?

Over the last few years, many companies have made a major change in their operations: ditching business consultants for business coaches.

While we won’t see business consultants going away for good, it’s clear that a lot of business executives and companies now come with different needs that coaching can fulfill much better than consultancy.

The key difference between the two lies in who will take the actual steps required for change. With business consultants, though some can provide coach-like support, it is common for these individuals to do the work and resolve the target problem. When it comes to coaching, the work is very much done by the person who receives the service.

But to understand why companies are moving from consulting to coaching, let’s take a closer look at each of them.

What Is Business Coaching?

Business coaches collaborate with owners, CEOs, and other actors in leadership and management positions in order to improve certain aspects that pertain both to the individual’s skills, and the company’s bottom line.

Coaches provide guidance and support to leaders and help them get the results they want both long-term and short-term.

For instance, they can:

  • Help leaders improve their communication skills
  • Assume the role of a mentor
  • Take a holistic approach when helping their clients
  • Guide clients through various processes, and help them overcome their challenges, etc.

What Is Business Consulting?

A business consultant is an expert in a specific discipline who provides their expertise for a company. For example, if a company wants to improve its IT systems, it may hire an IT consultant for more specialized support.

Business consultants will come in, analyze the issue at hand, and provide a solution designed to solve the issue. In some cases, they may even oversee the implementation of said solution.

Business consultants often:

  • Works in a project-based format
  • Focuses on business problems and not staff challenges
  • Creates an actionable plan to fix business problems, etc.

Why Are Companies Switching from Consultants to Coaches?

Consultants and coaches provide extremely different services. Yet, as companies are turning more and more to coaches for help, there seems to be a change in the needs that companies are looking to address.

Especially, the need to invest in people, not just the company operations. Business coaches work together with CEOs, leaders, and other key staff members to improve a company’s operation, yes, but the approach is vastly different here than in the case of a consultant.

The business coach helps the client improve their approach, enhance the skills they need for the job, and face challenges as a way to also enhance business operations. Companies now realize they need to invest in their people just as much as they invest in their operations.

Are Consultant Gigs Over?

Of course, there is a need for both. Consultants and coaches both provide essential services to improve a company’s health.

But the growing demand for coaches clearly shows that businesses are realizing they can’t ignore the need for stronger leadership anymore.

What Is Family Business Coaching, and Do You Need It?

Family businesses play a huge role in our nation’s economy, the fact remains that these types of companies can struggle to make ends meet. Whether it’s a small business that has been passed down through generations, or a multinational company, when it comes to family businesses, the “family” aspect is just as important as the “business” one.

And right now, family businesses are struggling. Most of them will shut down right before they reach their 3rd generation.

But on a positive note, there may be a way to prevent this from happening, thanks to the rise of something called “family business coaching”.

What Is Family Business Coaching?

Family business coaching offers support to help family businesses improve their operations and stay afloat. The coach can either work with an individual or a group to help the business improve its bottom line.

Family business coaches specialize in the unique challenges that most small family businesses face. Therefore, they can provide essential frameworks designed to be exclusively applicable within the context of a family business.

Not only that, but family business coaching handles the “family” aspect just as much as the “business”. Different generations can have different needs, expectations, and visions for the future. A family business coach helps the business navigate these differences to achieve optimal succession planning that can help the business live on even as it is transferred on to the next generation.

How a Family Business Coach Can Help

Family business coaches work to identify the key issues that affect a business’s performance, whether it has to do with the business itself, or something in the dynamic of the family.

Some areas where a family business coach may intervene include:

  • Family communication – In a family business, there is no way to ignore the simple fact that the way members communicate directly impacts business performance. A family business coach can help family members get on the same page and improve their communication;
  • Balancing values – One of the core elements of a family business is its values, as the business itself directly reflects the values of the family behind its helm. A coach can help family balance their values with current and future business needs;
  • Transition support – The moment when the business passes from one generation to the other is not just emotional, but it can have a negative impact on the company if it’s not done correctly. A coach can help plan this transition and prepare both the old and new generations as to what to expect during the transition, and how to handle it properly.

Do You Need a Family Business Coach?

A family business coach can help clients improve their business operations and strike a balance between company needs and family dynamics. While they will provide a lot of similar support as regular business coaches (improving communication, enhancing skill sets, etc.) their experience with family businesses specifically could prove extremely valuable in some cases.

Essentially, it doesn’t hurt to try, especially if the “family” component needs more support.

Accountability In Coaching: Why Credentials Matter

The world of coaching is fast-growing. It’s easier now than ever before to become a coach and start assisting people with a variety of goals, be they on a professional or personal level. However, in the past, many of these coaches have begun their journey after reading a few books on a dedicated topic, without holding much experience or expertise in the field.

This will soon stop as moving forward, people’s needs are changing greatly. More and more people have easy access to coaching services, which means we will see “new” problems that coaches will have to navigate.

And these new problems that people face will require a certain level of expertise from industry players. That, coupled with the natural rise in the entry barrier as more and more people enter the industry, are the reasons why it’s becoming more and more important to showcase your credentials in the coaching industry.

Why Are People’s Needs Changing?

It’s not necessarily that individuals encounter new problems in their personal or professional goals, though an argument can certainly be made for this as well, considering the aftermath of the global health pandemic.

More so, coaching services are today more accessible than ever. From companies that are offering employees at all levels programs to help them grow to virtual sessions you can access anytime and from anywhere, coaching is easier to tap into.

And this means that groups that have historically not been a part of the industry can also turn to coaches for help. One example would be the rise of BIPOC people seeking support and guidance in their professional journey.

It’s impossible to take out who they are, and the social-economic struggles of the community from their journey. This is why we can see a rise in BIPOC-focused coaches that specifically helps members of this community thrive.

And This Is Why Credentials Matter

As people are stepping into coaching more aware of the challenges they face in their career and personal journey, word of mouth and client testimonials aren’t enough to persuade them.

Coaching today and moving forward must instead place a bigger focus on legitimate credentials and proven models that can show the client the path they are about to follow can yield success. The promise of a big outcome won’t mean much if the coach cannot describe how they plan to get you there.

What Does This All Mean for the Client?

The industry will likely see a surge in new job openings and individuals entering the market. Clients will have more options than ever, but choosing between these options needs time.

Your coach is the person most qualified and capable to help you with your specific issue. Certification, experience, and proven models are just some of the elements you need to assess before beginning a relationship with a new coach.

So never base your decision on who makes the biggest promise. Review how the coach is planning to get you to reach your goals, to make an informed decision.

The “Human” Side Of Coaching

Coaches can have vastly different approaches to helping their clients achieve their goals, be they on a professional, personal, or niche level.

However, what should never change in terms of how coaching ensues is the idea that the client’s needs always come first, before the books, the strategies, and the formats.

Call it the recipe for success in coaching, but when you don’t put the person’s needs at the forefront of your work, you miss out on the “human” component of coaching. And this component can often determine the success of the coaching.

What Is the “Human” Component of Coaching?

The human component simply refers to the fact that the coaching strategy should answer the specific needs of the client in need of help.

Let’s take two scenarios to help you see the human component in action:

1.  The General Approach

A person looking for coaching and support certainly has many options in 2022. In fact, you may even be inclined to sign up for a masterclass or course that can help you work on some of your issues to reach your goals.

These types of classes have a “general” approach. They tackle certain subjects in a way that a large group of people can have something to learn and gain from them.

The coach will likely prepare a set of videos, booklets, checklists, and other materials to offer their clients, and help them move through the course.

And you can learn a lot from this type of approach, especially if you’ve never worked with a professional to improve your skills and mindset to overcome challenges and reach your goals. But, with this approach, you are missing out on essential interactions with your coach.

2.  The “Human” Approach

The human approach to coaching essentially means your coach will build an actual relationship with you, instead of just sharing tips and tricks. For starters, the human approach involves identifying your unique needs and expectations.

You will meet with your coach and get support for your circumstances, instead of an overall approach to becoming more successful or socially open. The human approach puts you, as an individual, at the frontline of the entire process, and not a potential group of people.

Which One Is Better?

It should be said that both approaches have their time and place. The general approach, be it in the form of a class or a course can certainly help people achieve meaningful results and even clarify some questions they may have about their future.

But in most cases, people respond better to the “human” approach, simply because it is tailored to their individual circumstances.

So when you choose a course, a program, or a coach, always let your individual needs guide you. Ask yourself:

“Can this really help me? Is it appropriate for my goals?”

Once you do that, you’ll be able to effectively navigate the world of coaching and find the tips, tricks, and the people who can genuinely help you achieve what you want.

Virtual Coaching: The Good, The Bad, And the Disclaimer

By: David Herdlinger

We’re living in an increasingly virtual world. Because of the Covid-19 pandemic, many industries were forced to embrace the remote or hybrid workplace a lot sooner than expected, or even regardless if they’d ever made such plans.

But like it or not, we now have countless digital opportunities at our fingertips, including professional coaching.

But does it work? Does video-calling your coach yield the same benefits as face-to-face meetings?

Let’s unpack the issue.

The Good of Virtual Coaching

Professional or personal coaching can be incredibly powerful for a lot of people in need of a little help reaching their goals.

But depending on where you live, you might not have access to the best coaches, or even not have one in your area at all.

Virtual coaching, therefore, allows many more people to access these types of services, from anywhere, and even at any time.

This leads to some compelling advantages:

  • Easily fit the coaching sessions into your busy schedule
  • Find more opportunities to get coaching even for niche matters
  • Get the chance to find a coach who can truly help your specific situation, etc.

The Bad of Virtual Coaching

There are two things I want to mention here:

First, you need to be careful who you trust. Since virtual coaching is on the rise, naturally many people may try to take advantage of them. It’s important to fully vet the coach and be sure you’re going to work with someone who’s experienced and can genuinely guide you to the success you look for.

That’s the biggest downside of virtual coaching.

But, there’s also a matter of what style you may respond best to. Simply put, some people still need face-to-face experience. The message resonates much clearer with them when they receive it live, as opposed to a video call.

The Disclaimer

I don’t think it’s necessarily productive to claim one style of coaching is better than the other. Both virtual and in-person coaching can provide you with a great experience.

Instead, be very careful how you select your coach, no matter if the meetings will occur in real life or through a digital platform.

There are some things you should always be looking for in a coach:

  • Compatibility – Like any relationship, you have to be compatible with your coach at least on some level;
  • Experience – If you’re going to learn from that person and take their advice, then they need to have the right experience to genuinely help you reach your goals;
  • Expertise – The coach is an expert in their niche, but is their niche right for what you need? Always be sure to check;
  • Trust – This is the foundation of any collaboration or relationship. If the coach isn’t the type of person you can trust to open up to, then your coaching experience will suffer because of it;

If you find someone compatible with you, has the right expertise and experience, and you feel you can trust them, then you don’t need to concern yourself with the virtual vs. real-life coaching debate.

Achieving Success: Do You Need Personal or Career Coaching?

By: David Herdlinger

It’s a question many of my clients looking to meet success often ask me: what type of coaching is most suitable for them and their goals?

Do you need a career coach to help you stay on track in your professional life? Or, do you need a personal development coach to help you unlock more fulfillment?

And the truth is… most people need both!

Unpacking the “Difference” Between Personal and Career Coaching

It’s easy to think that the two areas of coaching are completely distinct from each other.

When it comes to career coaching, you’d expect:

  • Analyzing your career path and opportunities
  • Get support in case you need to reassess your professional life
  • Unlock even more growth opportunities
  • Determining your goals and staying on your career path to meet them

While personal coaching seems to focus on other areas in your life:

  • Identify the skills you lack and build them (such as confidence, communication, etc.)
  • Create more opportunities for personal fulfillment and happiness
  • Finding ways to reduce stress and anxiety
  • Cultivating a sense of well-being in your life

If you look at it this way, it’s easy to think the two have almost nothing to do with each other. But before you consider working with two different coaches to reach your personal and professional goals, there is one key thing to understand:

These two facets in your life are so intertwined that working on one aspect automatically influences the other.

Success Is Determined by Having a Balance in Both These Worlds

Many personal issues can have a great impact on your professional life, positive or negative. And the reverse is also true.

Only when you have to make real choices, you can understand this strong link. You can’t truly help a person move forward in their career if they are battling with certain personal issues that are indirectly creating unnecessary obstacles. You can assist them in writing the best resumes out there, do countless mock interviews to ensure they get the job, but if, for instance, you don’t address the stress in their personal lives, you know their performance will be affected. And so will their ability to reach their goals.

Choose the “Right” Coach Instead of the “Right Type”

A coach is a person who provides you with 1:1 support to help you improve your life. The means to do it or the goals can differ from person to person, but that’s pretty much it.

So unless you’re looking to work on some very niche aspects of your life, I wouldn’t concern myself too much with the label that comes after “coach” as long as this person:

  • Has the right experience and qualifications
  • Understands your situation, and is able to genuinely empathize
  • Can provide you with support in a way that’s comfortable to you (such as face-to-face, online, on specific days, etc.)
  • You feel you can trust

And the last one is, by far, the most important! Because if you don’t trust your coach, you will not trust the process.