It is my belief that business can be a force for societal good and there is ample evidence to support this. Capitalism has resulted in lifting millions out of poverty, democratised access to education and increased life expectancy and health through technology and innovation.
Unfortunately, the opposite is also true. Short-term greed and corporate misbehaviour are not uncommon traits associated with business. In the Edelman survey from January 2020, businesses are seen as competent but unethical. The prevailing attitude of shareholder primacy ignores off-Balance Sheet risks such as environmental degradation and social issues arising from income inequalities. The Occupy Wall Street movement has brought this home to us very starkly.
With this backdrop, one of the clear threads that is emerging in recent times, especially in the wake of COVID-19, is the need for business to engage with society in a qualitatively different way. In my conversations with leaders, it is increasingly apparent that many of them have understood this link, taken it on board strategically and emotionally, but are still learning how to make it happen for the organisations they lead. How do they pivot from the established norms of what business does today to one that recognises this new reality? It doesn’t help that there appears to be no playbook to draw lessons from. However, what it does provide is an opportunity for people to come together and learn from one another. While this coming together can happen in various forums, perhaps one of the most effective ways to do this is through the coaching relationship. As we grapple with many challenges and learn how to do things differently, bringing out the best in us, which coaches can do, is essential to moving us forward.
ICF defines coaching as “partnering with clients in a thought-provoking and creative process that inspires them to maximize their personal and professional potential”. In a pandemic-aware world in which potential has become blurred for many, professional coaching offers a future-looking, transformational, and sustainable way to redesign potential.
Central to this process of bringing out the best in the client is for the coach to help them identify and articulate their purpose. There has been a lot written about the importance of having a compass to guide you through uncertain times. Simon Sinek’s “Start With Why” is a leading book on the subject. Identifying your purpose is what is going to get you out of the blinkered vision of measuring success purely on financial metrics. It is what will enable leaders to start making a difference in the world. It will also provide the guide in a world where uncertainty is unlikely to leave us for some time.
In order to identify your purpose, you need a certain clarity of thought. It is unlikely that you will be able to achieve this clarity without some of your belief systems being challenged. We all grow up with certain beliefs and assumptions – coaches employ a process of enquiry which can be incredibly powerful in breaking through these belief systems and allowing the leader the space to truly explore their purpose and bring it to life. Once you are able to break through the shackles of your limiting beliefs, you realise how much you have been held back. It also brings home the reality that your barriers to success often lie within you and are not the external factors which we are always quick to blame.
Any change is hard, and this is no different. It is important for the leader to remain accountable – and while self-regulation is great when it works, the reality is that it often doesn’t. Professionally trained and certified coaches can play a significant part in keeping the leader honest and accountable. Especially in these times when there is such a lot going on all around, there is always the temptation to give any immediate needs the priority.
There seems to be little doubt that the business world is currently at a crossroads. Based on my conversations with clients and what I read about others’ experiences, companies are adopting one of two approaches:
- Businesses which are looking back and thinking about what they have lost – these are companies which want to revert to the old normal as closely as possible and the sooner they get there, the more comfortable they will be.
- Businesses which haven’t stopped at just working from home and are looking at what else they need to do to remain relevant in the future.
Anecdotally, it appears that it isn’t industry, sector or geography which plays a part in deciding which companies fall into these categories, but leadership and organizational culture seem to hold the key.
This also suggests that a powerful coach could play a part in moving leaders from category a) to category b). It is only when leadership starts accepting (even embracing) change, that the process of understanding how they can – as leaders and as individuals – start making a difference to how businesses engage with society can begin.
There has never been a better time to do this. Although we are faced with terrible uncertainty, it is often during these times that the best ideas emerge. The moment is certainly ripe to reimagine leadership!
To learn more about professional coaching and its organizational benefits, visit International Coaching Federation.
If you need support on your organisation’s and leader’s coaching journey, do contact us at ICF and our team of volunteers in the UK will be happy to help.
