Mind the gap - How coaching can keep you on track with corporate governance

In a world where organizations are chasing investor expectations and success is measured by results on the streets, there is a need to evaluate the cost of making things happen.

If a safe yet challenging space (read coaching session) is provided earlier than later, it can help avoid compliance lapses in the organisation, like in the recent examples with Byju's and Paytm.

As a finance executive for over 15 years and now working as a professional coach, I feel coaching sessions are a must for people in charge of corporate governance and can have a beneficial impact in the following ways:

Better understanding of the risks

Being in charge of compliance and regulatory framework, there are times when the role involves taking decisions after mitigating some risks.

Often fear of judgement, losing credibility and overlapping complexities, mistakes and lapses are ignored and not tabled with a view to address them.

Reflecting with the support of a professional coach helps to resolve complex issues by breaking them down into bite size answers by the executive coaches. Coaching can help the executives to detail out the associated risks and ensure proper documentation. Understanding where the organization is currently at is a first step and is fundamental to managing the risks.

Work with our emotions

Decision making can often be a non-linear and non-rational behavior. In this age of AI, many attempts are made to analyze and predict human behavior through a rule book, however, no automated tool can capture accurately the thoughts and feelings of people in different situations.

A simple question by the coach ‘How are you feeling with a particular decision’ followed by active listening to both verbal and non-verbal cues, can uncover hidden feelings and emotions in a coaching session.

The executive becomes aware of the uneasy feelings which may have arisen because of the decision or redundant beliefs and can then work on them. Sharing openly their doubts, dilemmas and fears then becomes the second step to identify the gaps for the desired outcome.

Propel to action: Prevent the negative compound impact of non action

When human beings are faced with challenges, there is a tendency to freeze and get stuck. Lack of compliance can be caused by a series of small lapses which compound over time.

Even when one may not have the right answer, it may be wise to move step by step and then do a course correction. Coaching helps one find alternative ways to move as one is able to acknowledge the feelings and unlock strengths to achieve the given task.

The executive after such a session is armed with actions or reflections which allow them to move forward with clarity in the direction they are headed.

The third step is of action and execution and it becomes easier when there is accountability.

Simple living and high thinking, an age-old adage, is probably the answer to sustainable growth with good governance. And in my view, a professional coach can make it happen for you and your organization.

Sunny is founder at Sunny Connect, a firm specializing in curating programs for Conscious Leadership Development and can be reached at coach@sunnyconnect.in