Executive Coaching is a maturing market

Hard facts about the coaching market are difficult to come by. The following are not exactly surprises, but it’s nice to know there’s some evidence one way or another.

From the Cincinnati Enquirer

Co-sponsored by the Tandy Center for Executive Leadership, at Texas Christian University in Fort Worth and conducted by US company, Sherpa Coaching, which teaches executive coaching as a profession to students at three universities, the third annual survey was of executive coaches from 35 countries, though the majority centred on the US. The survey has grown from 550 respondents in 2005 to about 1,300 in 2007, has a margin of sampling error of plus or minus 3 percentage points.

The survey found:

  • 90% of HR professionals and clients see the value of coaching as “very high” or “somewhat high”
  • 74% of business people (ie prospective clients) rate the credibility of coaching as “very high” or “somewhat high”, up 7% from last year.
  • The number of people reporting employers as paying for executive coaching increased from 71 percent in 2006 to 78 percent in 2007.
  • More than half of practicing executive coaches believe that a standardized approach to coaching – similar to the standards created for the accounting and financial planning professions – is essential if the discipline is to grow in importance.
  • Companies that pay for coaching for senior executives expect results to focus on leadership development.
  • The industry is placing increasing emphasis on certification.
  • There’s less ‘as-needed’ coaching with clients going to regular meetings.
  • Clients also want a more limited scope – six months or less.
  • Best wishes

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