With many corporate leaders turning to executive coaching, people who haven’t tried it are probably wondering why executive coaching works.
Does Executive Coaching Work?
Though academic research is limited, there is some data on the effectiveness of executive coaching. MetrixGlobal LLC did a study, as reported by Merrill C. Anderson, on Fortune 500 companies that clearly showed that executive and leadership coaching delivers value on a consistent basis.
Another study, reported on the International Coach Federation’s website, indicates that clients who have used life, wellness, and executive coaches feel that they have benefited from their decision to use a coach. This study included over 2000 coaching clients in 64 countries.
The best evidence that executive coaching works is that there is a greater demand for executive coaches each year, and more leaders are turning to coaches to help them compete in today’s global marketplace.
Why Executive Coaches are Hired in the Corporate World
A recent survey conducted by Harvard Business Review which included 140 executive coaches, found that the reasons companies hire executive coaches have changed over the years. Ten or twenty years ago, companies hired a coach to fix problems or toxic behavior at the top. However, according to the survey, the top 3 reasons coaches are hired are:
- • 48% said that they are hired to develop the potential of executives or facilitate transitions
• 26% said they were called in to act as a sounding board.
• 12% said they were brought in to work with problem behavior.
Because it is gaining in popularity, there must be something about coaching that works. So – do we know why executive coaching works? Why is it gaining in popularity and relevance?
4 Reasons Why Executive Coaching Works
It is Objective. The first reason why executive coaching works is because executive coaches possesses a distance from the company, it’s culture, it’s leaders, it’s, and it’s history, they can remain objective when working with its leaders. They can focus on results without worrying about any conflicts of interest. By remaining objective, the level of disclosure and honesty increases, which helps the coach with inquiry and assessment.
It helps to place responsibility where it belongs. Because executive coaches are often familiar with a specific industry and have experience dealing with corporate structure and climate, they understand the various parts of responsibility and they can effectively offer insight into the placement of that responsibility.
It is personal. Executive coaching can work in a group, but it works its magic in a one-on-one situation. Because the executive determines the agenda, it is highly customized and personalized. This one-on-one framework allows for more personal interaction, a greater level of trust, and a stronger partnership between coach and client.
It is focused on results. The last reason why executive coaching works might be the most important. If a company spends thousands of dollars on executive coaching, they want results. They don’t care how objective or personal it is, if it doesn’t get results, it isn’t worth a dime. The coach focuses on development results and identified goals so the company can see results in its bottom line.
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