CB Richard Ellis

COACHING AND LEADERSHIP

Like many top athletes, Tiger Woods has a golf coach, and research shows that coaching pays off for other professionals as well. A study of 100 coached professionals found a 570% return on investment. In this study, coaching improved productivity 53%, work relationships 77%, and overall job satisfaction increased 61%.

Many organizations offer Executive Coaching as a way to help their leaders develop skills that are directly related to driving their daily business activities.

THE EXECUTIVE COACHING PROCESS
Executive Coaching accomplishes this through a strategic approach to teaching leadership skills and behavioral change. It supports leaders in reaching their short and long-term goals, while providing them with the competence to deal with new challenges. Executive Coaching can also be used to prepare potential leaders for executive positions by accelerating their development for future success.

CB Richard Ellis is one of the world’s leading commercial real estate services firms. Headquartered in Los Angeles with approximately 9,500 employees, their revenues totaled $1.17 billion in 2002.

Recently, Jana Turner, president of CB Richard Ellis’ Asset Services division contacted Brett Miles regarding an Executive Coaching process for several senior-level associates.

 “I became interested in the Executive Coaching process through a discussion with the head of our Human Resources Department and it was suggested that Brett be brought in, with a goal of preserving and enhancing several valuable staff members’ management and leadership capabilities,” Jana said.

These top producers needed to be refocused on the task at hand, working together and productivity. The erroneous notion that someone would be fired or would quit would need to be eliminated.

The idea of Executive Coaching was introduced to the first staff member. It was explained that his/her coaching process would be the pilot program, and others would soon follow in his/her footsteps.

“Through some very well-planned and careful conversation, the tenor of the first meeting resulted in the employee truly understanding that the company absolutely valued his/her thought process and contributions, and that the company wanted to take the employee to the next level, which would require an executive coach,” Jana explains.

START WITH A SOLID FOUNDATION
Brett designed a custom-tailored Leadership Development program with a solid foundation of Executive Coaching. Behavioral Styles and Values assessments were completed, a 360º Survey was completed by the person being coached with input from his/her managers, direct reports and peers. One-on-one Executive Coaching sessions were held weekly. And the program was an immediate success! It had been positioned well. Each person involved felt heard. Specific challenges were identified. Recommitment was achieved..

“The Executive Coaching program produced excellent and immediate results,” Jana observed. “The (pilot program) employee has dramatically improved managerial and leadership execution, all within a 90-day period. I was very surprised at the depth and speed of the behavioral change for this person, and it amazed me what a third-party expert could accomplish in this very risky and sensitive area. The (behavioral) profile, the 360º feedback process and the one-on-one sessions all contributed equally to producing the results we sought to achieve. It supported a deeper and more concentrated evaluation of what makes this employee ‘tick,’ in addition to what behaviors the superiors, peers and subordinates liked and disliked about the person’s managerial style.”

The greatest lesson that Jana says she has learned from this process is, “bringing in an outside expert to help resolve an internal business challenge can be the quickest and most cost-efficient approach. Most companies and/or senior leaders feel compelled to ‘know it all’ and solve any problem presented. That holds true in many cases, but when dealing with people’s value beliefs and overall emotional dynamics – that is a job for an expert! Milestones, Inc. brought to the table a proven, well-defined process along with an outstanding ‘coach,’ all of which created a winning formula for everyone.”

Brett’s custom-tailored Executive Coaching program cost CB Richard Ellis approximately $10,000. But Jana estimates that the company “could have realized client account and employee loss totaling up to hundreds of thousands of dollars. Also, the company saved the time and expense involved in replacing this individual, which easily would have cost the company $350,000 - $750,000.”

One important point to recognize about Executive Coaching is that it is not a project but a process. A quick fix cannot be achieved through only one or two coaching sessions. The process requires a strong concentration initially, followed by consistent but less frequent follow-up to be sure the mission is accomplished, long-term. Currently, Milestones is checking in quarterly with the first employee in this pilot program to insure that this person continues on track, in addition to determining if the employee wants to explore other executive development areas. Meanwhile, other CB Richard Ellis employees from all areas of the country have begun their own Executive Coaching programs with Brett due to the immediate success of the pilot program.

Today’s leaders are faced with more things to do and often fewer people on their teams to do them. Milestones, Inc. is dedicated to helping its clients build stronger businesses by retaining and developing talented leaders for successfully meeting the challenges of today and the future.