Why Coaching
Alone in Baja
Wynne W. Miller, MCC, talks about her solo retreat in Baja California and how it influenced her coaching.
- What is coaching?
The International Coach Federation tells us: "Coaching is partnering with clients in a thought-provoking and creative process that inspires them to maximize their personal and professional potential."
The Executive Coaching Forum defines executive coaching as "an experiential and individualized leader development process that builds a leader’s capability to achieve short- and long-term organizational goals. It is conducted through one-on-one interactions, driven by data from multiple perspectives, and based on mutual trust and respect. The organization, an executive, and the executive coach work in partnership to achieve maximum impact."
- Who benefits from coaching?
According to the 2011 Sherpa Executive Coaching Survey (PDF, page 9), "There is no doubt that coaching helps people. Almost every HR and business leader we surveyed sees real value in coaching. An Australian coach sees opportunity: 'The turbulent and ambiguous nature of the world of work today creates a real opportunity for clients and coaches to work together to create more sustainable and fulfilling work places.'" Page twelve of the same report shows that whereas it was once reserved for higher top level executives, coaching for leaders at all levels is on the rise.
Among HR professionals and coaching clients, 90% see the value of executive coaching as "somewhat high" or "very high." That echoes Sherpa's findings. Half the organizations who use coaching allow managers at every level to participate, while an equal number limits coaching to senior managers and executives. Research conducted by the American Management Association (see AMA Survey) shows that organizations that increased their use of coaching reported better performance in areas such as revenue growth, market share, profitability and customer satisfaction. Those that increased their coaching also reported more success in coaching. - What is the return on investment (ROI) for coaching?
Research has shown that the return on investment (ROI) in executive coaching is 500-800%. This means that $10,000 spent on executive coaching should generate $50,000-$80,000 in return. Not bad. See Alchemy Exchange.
- How is coaching delivered?
In-person delivery accounts for 49% of executive coaching, up from 40% two years ago. A 2008 Sherpa Coaching Survey showed that 72% of executive coaches believe in-person delivery is most effective, up 5% since 2006. 92% of HR professionals and coaching clients believe in-person delivery is the most effective.
- Is coaching popular?
Accoring to an AMA Survey (page 11), "in the North American sample, 52% report having such programs in place, and, in the international sample, the proportion is 55%. Coaching continues to gain in popularity. Among respondents who say their organizations don’t yet have coaching programs, a sizable proportion (37% in the North American sample and 56% in the international sample) say such programs will be implemented in the future."