Executive Coaching: The Key to Leadership Development

by Sherpa Coaching

The world’s top line executives look forward to retirement. A new generation of leaders is being groomed. Increasingly, these rising stars get a boost from personalized leadership development, in the form of executive coaching.

The Sherpa Executive Coaching Survey offers insight into this growing profession. For the third year, this survey gathered information from coaches and business leaders. Responses came from thirty-seven countries. The Center for Executive Leadership at Texas Christian University collaborated with Sherpa Coaching, a training and certification authority, to conduct the survey.

Executive coaching is a maturing industry, with more veteran coaches plying their trade than ever before. Those coaches are more highly trained, too. The credibility of coaching is rising, and support for standards is building.

In executive coaching, there are major moves toward:

• In-person coaching.
• Coaching for leadership development, rather than problem-solving.
• Adoption of industry standards for training and certification.

The 2008 report answers critical questions about the industry:

• Who gets a coach?
• How do coaches learn the trade?
• How much does coaching cost?
• Is it worth the money?

The delivery of executive coaching is moving toward in-person encounters. In-person delivery accounts for almost half of executive coaching, up sharply from two years ago. 72% of executive coaches believe in-person delivery is most effective, and 92% of HR professionals and coaching clients agree.

Not many customers measure return on investment from coaching, but a vast majority see its value. Among HR professionals and coaching clients, 90% see the value of executive coaching as ’somewhat high’ or ‘very high’.

Coaching is gaining in credibility. Despite a few self-styled coaches who tap into ‘energy centers of the earth’, or even more exotic theories, belief in executive coaching is on the rise. The number who rate the credibility of coaching as ‘very high’ or ’somewhat high’ has reached 73%, up seven percent from last year.

Training and certification for executive coaches is building momentum. The number of coaches who see formal certification as either ‘absolutely essential’ or ‘very important’ stands at 75%. Among purchasers and clients of executive coaches, 84% hold the same opinion.

Complete results are available for free download at www.sherpacoaching.com/survey.html