Feature / Vital support

01 December 2014 Paul Assinder

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A Californian colleague of mine has studied high performing individuals in a number of fields.  When presenting to groups of senior doctors and CEOs, he typically puts up pictures of Tiger Woods, Wayne Rooney, Beyonce etc and challenges the audience what they have in common. Of course, although they are all mega earners, performing consistently at the top of their game, most people don’t readily recognise the extent to which they all rely heavily on personal coaches.

The challenge is simply why isn’t this a regular feature of the business world in the UK?

But increasingly in the US and UK corporate world, coaching and mentoring are part of the staple armoury of top executives.

As a practising chief finance officer, I know the extent of the daily pressures to perform on those holding top positions in the NHS. And these are even more evident for new appointments to the NHS or to the top job. Over the past few years we have had an unprecedented turnover in those in senior leadership positions in the NHS. There are many people in senior positions with relative inexperience and many will have never been asked to steer the financial ship through such choppy waters. As one who has undertaken this role in times of budget cuts rather than growth, I know it takes a different skill set and greater personal resilience

Add to this modern media intrusion in the NHS; a digital revolution promoting 24/7 availability and a much heightened pace of communication; and worsening austerity budgets – investing in a personal performance coach is for many CFOs a sensible business decision. In the challenging financial climate we are now operating in, directors of finance and CFOs in particular can feel exposed and isolated. The CFO position can be the loneliest place in the world and coaches who understand this and can empathise with their client’s unique predicament are invaluable and represent great value for money.

As one of UK healthcare’s most experienced finance directors, with wide experience of the benefits of coaching in a challenging environment, I am a massive supporter of the wider Future focused Finance initiative to support the wider function and of HFMA’s Executive Coaching Scheme for its practical approach to supporting those we all rely on to perform consistently at the top of their game.

My coaching approach is analogous to a sports or music performance coach, in that at the commencement of the relationship is a discussion of and agreement to, a set of performance objectives. These should be concise, clear and measurable.

A coaching regime is then agreed consisting typically of set reflection and discussion meetings, lasting typically between 90 minutes and two hours and combined with agreed ‘homework’ tasks set for both client and coach. A Coaching Contract will typically sketch out some performance milestones and key performance indicators that can provide due assurance to both parties that improvements are being achieved.

Coaching has many of the attributes of mentoring but goes much further and is much more exacting of both the client and coach. I like to think the coaching relationship has all the encouragement and support of traditional mentoring but is additionally a commitment to embark jointly on a defined journey with an explicit destination in mind.

The coaching environment is a place where the client can rehearse practical business problems and issues in a safe and informed environment. We usually spend time exploring alternative approaches to tactical problems, discuss possible unforeseen impacts and likelihood of success and typically will refine the approach several times. Often clients refer back to coaches directly from ‘the battlefront’ sharing by phone experiences in near real time and tweaking their approaches accordingly.

Through such joint working the coach develops a genuine insight into the client’s motivations, strengths and weaknesses, but also a detailed appreciation of the client’s professional relationships and workplace challenges. This requires a significant personal and research commitment on behalf of the coach and such a relationship should not be entered into lightly.  The fit and chemistry between coach and client is crucial for success.

In my view it should be second nature for anyone in a senior role in an organisation as complex and challenging as the NHS to use coaches and mentors. Certainly no CFO or FD should, in my view, complete their career without benefitting from a coach or mentor’s input. And the majority should have also probably have acted in that role themselves because you can learn so much about yourself in the process.

Coaching is one of the most rewarding exercises I have ever undertaken in my long career. By working on others’ performance attributes and perceived weaknesses you inevitably develop a much wider frame of reference against which to examine your own performance goals and objectives. I would commend the concept to all.

Paul Assinder has more than 25 years’ experience in financial management in the NHS and commercial organisations. He is a past president of the HFMA and is now European CFO of US healthcare life sciences company Nanthealth.