As organizations make executive coaching a high priority in their leadership development strategies, what are some of the latest trends in executive coaching?
In an industry-wide study, Executive Coaching for Results, nearly 1,000 organization coaching practice managers, internal coaches, and external coaches were asked on the future of executive coaching, the latest trends and where it is headed in the next three to five years.
Here are some of the top trends in executive coaching as compiled by The International Coach Federation:
1. THE MOTHER OF ALL TRENDS IN EXECUTIVE COACHING: LEADERSHIP PROGRAMS WITH ADDITIONAL COACHING
About 86 to 89 percent of respondents surveyed rate this trend as the top trend in executive coaching and the most ensuing trend moving forward. Organizations need executive coaching on top of their own leadership programs for the same causes that athletes utilize sports coaches: to develop talent and help people achieve peak performance.
An ever-increasing pace of change in business requires executives to develop quickly, and in the context of their current jobs. Many companies view coaching as a way to produce peak performers and compete in the marketplace to attract as well as retain talent.
2. EXECUTIVES WILL BE TAUGHT COACHING SKILLS VIA LEADER-AS-COACH TRAININGS
More organizations will embed coaching into their corporate culture and coaching will be a highly sought after skill amongst executives. Some of the benefits of coaching include one-on-one focused development, personalized learning, confidentiality, and personal accountability for improvement. In addition, coaching provides executives the opportunity to develop individual capabilities in areas where training programs do not exist.
3. THERE WILL BE HIGH DEMAND FOR BOTH INTERNAL AND EXTERNAL COACHES
While the groups surveyed differed in whether they should adopt internal or external coaching—it is clear that all surveyed accept either one method of coaching.
Organizational practice managers and external coaches reported the top trend they noted was an increase in external executive coaching. External coaching happens when an external coach, who typically has more extensive coaching training than managers, is hired to coach staff members of an organization. On the other hand, internal coaches predicted internal coaching, where a colleague, a manager or a human resource specialist performs the coaching role, would be the top trend.
4. TEAM COACHING IS GAINING POPULARITY
This trend showed up in varying ranks among the groups surveyed, but all within the #1-5 rank—external coaches ranked this trend as #3 while internal coaches and organization practice managers ranked it as #4 and #5 respectively.
When coaching is given to a team of professionals who work together on projects or toward a common goal, this can enhance effectiveness, harmony, morale, and productivity of the team for the greater good of the company. Another significant benefit of team coaching is that it might be less costly for organizations, as compared to one-to-one coaching which might be too expensive to serve everyone.
5. THERE WILL BE INCREASING OPPORTUNITIES FOR COACHING MILLENNIAL LEADERS
While 85 percent of external coaches rated this trend higher (#3) than internal coaches (#5) or organization practice managers (#10), it seems clear that there is a strong need to adapt coaching strategies to cater to Millennial employees.
Alan Fine, author of The Coach’s Guide to Millennials explains some of the characteristics of Millennials: “The Millennial generation—those born between 1982 and 2004—are on a personal journey. They’re innovative. They think globally. They’re tech-savvy, and they are motivated by causes. They are eager—some would say impatient —to succeed. They are continual learners, innovative, and collaborative. They expect to be included in decision-making.”
While this generation craves experiences and wants to do things themselves rather than being coached, this should not hinder coaches from targeting this group of employees. As long as coaches employ creative coaching strategies, pay attention to what Millennials want and show them how to lead, there will be ample opportunities.
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Writer, Coaches Training Blog community