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HDA OVERVIEW
HDA Case Studies

Coaching – Financial Services

 

Business Context/Background

Building on an established commitment to personal development, a large international specialist investment organisation was considering a programme of executive coaching support for their Directors of Research and Fund Managers.  Up until this point coaching was undertaken on a reactive basis, in response to issues or specific organisational changes and the organisation was keen to adopt a more structured approach to coaching; whereby a shared framework could be used across different teams to achieve coaching success.

The organisation was seeking a bespoke and flexible approach which would:

• Explore how to get the best from people by recognising that different approaches are needed for different people based on their personality, motivations and aspirations. 

• Assist individuals to have a clear sense of who they are as a person, including what motivates them, and how this relates to future career options.

• Identify and remove self-limiting beliefs that may hinder future potential being realised.

• Establish a coaching framework for senior managers who are currently coaches. This framework would then provide structure to the process while still allowing for individual coaching styles.

• Enable individuals to understand what works best for them, in terms of effective learning, in order for them to achieve personal career goals whilst retaining a continued focus on business objectives.

• Build individuals up to same management standard, developing a consistent approach to achieving objectives.

• Compliment the International Career Development Programme established for high performing-high potential individuals.

HDA won the opportunity to provide this coaching support across the varying levels and business areas within the investment bank.

Summary of Coaching Content

Ensuring that no conflict existed between the objectives for coaching and the objectives of the International Career Development Programme (running simultaneously), HDA developed a structured coaching programme, across either three or six months depending on individual requirements. The programme consisted of the following stages:

Stage 1: Diagnostics and Objective Setting

A full brief was obtained from HR on each individual to be coached. In addition, at the commencement of the programme, the Coach met with the Coachee’s manager in order to obtain their perspective on the individual’s strengths, priorities for future development and desired objectives to be achieved from coaching.

Each Coachee was then invited to complete a psychometric profiling tool (MBTI or Insights) as well as a motivational tool (Motivational Maps).  The information this generated, together with any 360-degree feedback, was used as the basis for the first meeting.  During this meeting, the coach worked with the Coachee to obtain their perspective of their strengths and weaknesses, their understanding of the job requirements now and in the future, their aspirations for future roles, preferred management style and also assessed their motivation for change.  At this meeting, coaching objectives were agreed and quantitative and/or qualitative measures identified in order to track progress against the objectives.

Stage 2: Provide Coaching

The coaching sessions were provided face to face over a period of three/six months; with one session per month.  Each session typically lasted between two-three hours, with a range of outputs, including (practical) behavioural and commercial leverage objectives. Support was available between sessions by telephone or email, as required and face-to-face sessions were converted into telephone-based sessions where opportunities for face-to-face activity were limited by client time pressures, etc.

Stage 3: Evaluation

Part way through the coaching programme, a review was held to ensure that the Coachee was happy with the progress being made and the coaching approach being provided.  A six monthly review was also held with HR to update them on general organisational themes and individual progress (within the bounds of client confidentiality).  At the end of the coaching programme, the Coach obtained feedback from the manager (where appropriate), and this was then used as part of a final meeting with the Coachee.  The final session measured the progress against the desired outcomes and original objectives and “next steps” were agreed.

Business Value Obtained From Coaching/Coaching Outcomes

All of the organisational objectives were achieved and the response to coaching, across the business, was overwhelmingly positive.  HDA established a coaching framework within the organisation which not only allows the organisation to employ external coaches where required but also provides internal coaches with greater structure, while continuing to allow for personal coaching style.  The organisation is now confident that all coaching undertaken adheres to a formal structure and process which recognises that different approaches are needed for different people based on their personality, motivations and aspirations.  In addition a number of specific business benefits were observed at both a departmental and organisational level, including:

• As a result of the coaching, individuals were more comfortable with the turbulence in the investment markets and continued to make good investment decisions during this time.
• Communication channels were opened up between peers and role models about their approach to work; providing individuals with much needed insights into alternative approaches to work which facilitated the development of improved personal strategies for future success.

• As a result of time management coaching, individuals were then able to achieve more in the time available and became more focused.
• HDA Coaches worked with individuals to develop strategies for individuals entering new roles; ensuring that they made maximum impact within their first 90 days.

• Through the coaching a temporary internal appointment was validated, which eliminated the requirement for an external recruitment process to take place.

 

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