Why Executive Coaching is the New Big Thing
Today we announced the addition of 30 more professional executive coaches to the team. We already had 34. Why would we want more?
Because more of our clients worldwide are interested in executive coaching.
Executive coaching and leadership development has shot to the front in recent years as a must-do tactic for accelerating the development of business leaders. It’s pegged at a $2.4 billion business by the International Coaching Federation with growth over 10% per year.
Demand is supporting a reported 53,000 coaches worldwide, some 30,000 of which are ICF (all 64 of our coaches are ICF members). Of the dozens of kinds of coaching out there, the most requested in the corporate world falls under “Leadership” or “Executive”.
Neuroscience plays a role
This coaching is built on very sophisticated, performance-related knowledge and learning techniques – including neuroscience – designed to channel the abilities of exceptional achievers to become equally exceptional leaders of people.
“Leaders cast a long shadow,” says one CEO. “When they can walk their talk, people listen and are likely to follow suit, improving the levels of enthusiasm, trust, and team effectiveness throughout a team or organization.”
Doubling up on top quality coaches is a strong commitment by Cornerstone’s management to our Leadership Development. The term Leadership Development covers a wide range of very specialized services but the core is one-on-one executive and leadership coaching.
In the talent procurement and management business, executive search and leadership development often go hand-in-hand, as they do here at Cornerstone, either synchronized or separate.
The synchronized services tag on coaching to recruiting. Also known as “onboarding”, the coaching component is specific to the job challenge and gets the new hire in position to contribute to profitability much faster than through unaided adaptation.
Coaching on its own can benefit a company in any number of ways all through the career path. It starts with the probability that coaching a promising talent is a lot less expensive than trying to upgrade by recruitment – and with less risk.
Coaching at a senior level usually does one of three things: it corrects causes of underperforming, it assists in job transition, and it develops up-and-coming leaders. Only 10 years ago, behavioral issues topped the list. Today, by far the greatest application is to pro-active leadership development.
The returns are significant
The benefits of accelerating the bottom line impact of a potential top performer is not guesswork. A PWC survey of global coaching clients concluded that the mean ROI for companies investing in coaching was seven times the investment. Over one quarter of respondents reported an ROI of 10 to 49 times.
With those kind of returns, small wonder executive coaching is in hot demand.
You can learn more about our Leadership Development and executive coaching offers here or, if you’d rather talk to a human, contact one of our Regional Chairs for Leadership Development:
Americas & Asia – laurie-odonnell@cornerstone-group.com
