Small and medium-sized enterprise (SME) travel leaders face unique challenges including loneliness and burnout. Recognising these issues is crucial in ensuring their well-being.
Abby Penston, former chief executive of Focus Travel Partnership, has taken a proactive step by launching an executive coaching practice. This new endeavour aims to support these leaders in managing stress and improving organisational performance.
The role of a leader in an SME, particularly in the travel industry, is often accompanied by feelings of isolation. According to a study in the Harvard Business Review, 61% of executives report feelings of loneliness in their positions. This sense of isolation can adversely affect decision-making processes and organisational efficiency.
Research conducted by the Centre for Creative Leadership further supports these findings, suggesting that leaders who feel lonely struggle more with team dynamics and conflict resolution. Such challenges can significantly hinder a company’s overall performance and growth.
Penston emphasises the importance of addressing these concerns, stating, “Being a leader or senior manager in an SME travel business can often feel overwhelming.” Her executive coaching initiative seeks to fill this gap and provide much-needed support.
Abby Penston’s new venture, Myexec, offers coaching and mentoring services starting from November. This initiative aims to help SME leaders navigate the complexities of their roles.
Drawing from her own experiences as a former CEO, Penston understands the intense pressures that come with leadership. She is determined to share her insights and strategies with others in similar positions.
Senior-level coaching and mentoring have proven beneficial for many successful organisations globally, helping leaders overcome isolation and improve their effectiveness.
Effective coaching also plays a crucial role in developing strong leaders capable of driving their organisations forward, even in challenging times.
“I have discovered techniques and strategies for dealing with pressures and I’m passionate about sharing this knowledge,” she asserts. Her dedication underscores the importance of mentorship in leadership roles.
Increased engagement and job satisfaction among executives can lead to better outcomes for the entire organisation, highlighting the importance of such initiatives.
With the launch of this new coaching practice, there is hope that more SME leaders will find the support they need to thrive in their roles.
The move by Penston serves as an inspiring example of dedication to the well-being and success of business leaders in the travel industry.
Support initiatives like Myexec offer significant promise in addressing loneliness and burnout among SME travel leaders. Penston’s leadership and commitment are setting a new standard for executive well-being.