Why 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?
Among those who purchase or use coaching services, reports a Sherpa Coaching 2008 Survey, 70% feel executive coaching is most appropriate for people who need leadership development. Among HR professionals and coaching clients, 90% see the value of executive coaching as "somewhat high" or "very high." That echoes Sherpa's 2007 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.
- What are the main benefits of executive coaching?
Research conducted by the American Management Association (AMA Survey, page 10) 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 for problem solving or leadership development?
Coaching is seen as a leadership development tool, rather than a problem-solving mechanism. A 2008 Sherpa Coaching Survey reports that there is now meaningful movement toward providing executive coaching as a pro-active move. "Over three years' time, the use of coaching primarily for leadership development has picked up from 43% to 50%. Having an executive coach (has) become a status symbol, the mark of an up and coming leader being groomed for greater possibilities."
- 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."