Penthouse View - Top Trends in Executive Coaching
Executive coaching has exploded in its prevalence and importance in business over the last decade. Once considered a luxury for the elite, executive coaches are increasingly recognized as essential to all levels of business leadership. Forbes Coaches Councilwoman Laura DeCarlo predicts that “In the next five to 10 years we will see coaching become a necessary focus among executives respecting the ROI and wishing to propel themselves further faster.”
As demand for executive coaching skyrockets, DeCarlo and her peers on the Forbes Coaches Council anticipate several key trends in the industry:
Consultation Eclipsed by Coaching
Coaches offer valuable insight gained from their own rich leadership experience. As aging demographics leave gaps in corporate memory and shrink the availability of independent consultation, executive coaches will become essential to the success of emerging leaders. “Consulting augments gaps in knowledge, but coaching emphasizes the transfer of wisdom,” says Jim Vaselopulos, founder of Rafti Advisors, Inc. and co-host of The Leadership Podcast.
Increase in Industry-Specific, Experience-Based Coaching
Encouraging leaders to think strategically will become the bare minimum that coaches offer their clients. Coaches will increasingly offer a deep well of practical wisdom developed over years of experience that will help leaders to navigate complex issues and decisions. “We will see more operators with deep industry or leadership experience serve as coaches,” observes Shoma Chatterjee of ghSMART. “The demand for ‘been there, seen that, done that’ coaches will continue to rise, as they are better positioned to help leaders look around the corners.”
Importance of Measurable Results
Loren Margolis of Training & Leadership Success LLC predicts that “savvy clients will only choose executive coaching organizations that can clearly demonstrate how they helped their coachees move the needle.” Since the coaching industry is currently unregulated, credentials and measurable results are the best indicators of top executive coaches.
Availability of Coaching for All Levels of Leadership
“Coaching will become more commonly used in employee and leadership development at all levels,” Amy Douglas of Spark Coaching predicts. Interpersonal skills are in increasing demand at every level of leadership, from C-suite executive to team manager. Fortunately, the coaching industry is growing to meet this demand, and Douglas believes that shrewd organizations will take advantage of this.
Executive coaching is at the cusp of becoming standard practice for all levels of business leadership. Expect accredited coaches with a history of success to provide expertise-based coaching that provides measurable results for you and your organization.
As demand for high-caliber coaches is only increasing, there is no better time to engage in the process of executive coaching!