The American Management Association has recently released it’s report about a study it commissioned to look at executive coaching, particularly looking at best practices, results, and the future trends. Many thanks to my friends at Sherpa Coaching for making the report available as a PDF download here! Imagine my surprise to find that an article I wrote with my colleague Sheila Maher was cited in this report. Cool!
The report is called Coaching: A Global Study of Successful Practices, Current Trends and Future Possibilities 2008-2018. The study confirmed that coaches have a role in executive leadership development that improves organizations’ productivity and profitability. To quote the report, “coaching will continue to expand and mature as an important leadership development practice. We expect that coaching will become one of the keys to developing and retaining scarce talent in the future, and we think companies that learn to leverage it well will have a significant competitive advantage in the global marketplace.” Woohoo!
One of the conclusions the report makes is that “The Need for Coaches Will Continue to Grow –The reasons for this are straightforward. As the Baby Boomer generation retires in the U.S. and other nations, there will be a greater need for speed and effectiveness in developing the next generation of leaders. Coaching is suited to fill this need as it becomes more closely integrated into succession management and leadership development. Also, coaching will be especially well-suited to handling the faster cycle times and more diverse management challenges associated with global business.”