Whilst I use positive psychology in my coaching practise, this doesn’t mean that I ignore the potential for things going wrong. I do often explore with clients what is the worst that could happen...I think it can be useful to consider what could possibly go wrong?!
Working with clients in financial services they understand that investing in anything comes with risks and investing in a coach is no different. Understanding the potential risks can help both coach and client navigate the coaching journey more effectively.
Here are some of the main risks to consider in coaching and ways to mitigate these risks:
Risk: Clients may invest in a coach, but it’s a different kind of support that they need for what they are looking to achieve. There can be a lack of understanding of the different types of support available and therefore clients may be unaware of what they are investing in.
Mitigation: Ensure that clients understand what coaching is and isn’t and have a clear understanding of whether they need coaching, therapy, or mentorship. It might be a blend of all of these, but it’s important to be clear on what is needed.
Risk: Clients often have super busy schedules and can struggle to prioritise the time for sessions and to find time in between sessions to reflect on what they have learned and what actions they want to implement. Being unable to commit sufficient time means the desired coaching outcomes may not be achieved.
Mitigation: Before starting coaching, clients need to review the required time commitment and ensure they can set aside dedicated time for the coaching, reflection and implementation to ensure effectiveness of the coaching.
Risk: Differing personality types between coach and client can impact the coaching relationship, resulting in poor performance. The foundation of the coaching relationship is built on trust and building rapport so there must be a good fit to work together.
Mitigation: The coach and client need to check their compatibility. You can have a consultation call first. Find out what the coach’s approach is and how the client would like to be supported. It may seem obvious but check that there is good match between coach and client as this relationship will be critical in getting the required results.
Risk: If the coach and the client don’t agree coaching goals and what the success measures are at the outset this can lead to a disappointment in the results and a perceived lack of progress.
Mitigation: Set specific and measurable goals at the start of the coaching relationship and agree success measures. Regular reviews of progress will help ensure that both coach and client remain aligned to the goals and focused on achieving the desired results.
Risk: Coaches may lack the necessary expertise in specific areas relevant to the client’s needs which can result in inadequate support and poor performance.
Mitigation: Clients should research a coach’s qualifications and experience to ensure they align with their specific goals. Asking for references and reviewing testimonials can also provide insight into whether they have the necessary skills.
One final point to add is that confidentiality is essential in the coaching relationship and it should be clear in the coaching agreement that any conversations must be held in strict confidence. A qualified coach will be ethically and legally bound by this.
Investing in coaching can have a transformational impact on your personal and professional life. But both the coach and the client need to understand the risks involved and implement actions to mitigate them. By doing so, you maximize the potential of coaching, creating a win-win situation for coach and client.
About the Author
Helen Schoeb is an Executive Coach for senior leaders and founder of XFS Coaching Solutions, a specialist coaching firm for the Financial Services sector.
Learn more at www.helenschoebcoaching.com and www.xfscoachingsolutions.com