Business now sees coaching as an essential part of training and talent management programmes – with real commercial benefits.
Recent research undertaken by PricewaterhouseCoopers for the International Coaching Federation found that the approximate annual worldwide revenue produced by coaching was $1.5 billion.
Speaking on the eve of International Coaching week, which starts today, Helen Caton of coaching organisation the Forton Group, said: “Coaching and cosmetic surgery have something in common. They give a huge boost but people don’t always like to admit to using them.”
But that’s changing: “Coaching is now a valued professional service,” she said. “And while our clients don’t publish figures outside their business, they view coaching as an essential part of their training and talent management programmes, from which they see actual commercial benefits.
“Leadership is an acquired skill and coaching can provide the key to nurturing the next generation of leaders. But inspiration alone isn’t enough. For talented people, the support of a great coach will significantly accelerate their growth into leadership.”
One Response
Coaching is being accepted and does add true value to Talent Ma
It is refreshing to read that business is now seeing that coaching can add true value to talent management programmes.
My company has for a couple of years now been using coaching with companies to support talent management programmes as well as educating organisations that for them to implement and run a successful TM programme it is imperative to develop awareness and knowledge on what their employees career drivers, motivators, values, beliefs, communication style and future career aspirations are.
Employing an external coach with expertise in career coaching allows the employee to develop self-awareness and skills on how to plan ones own career and how to successfully align ones future within the organisation. The true return on investment for the employer is increased motivation, productivity and increased staff retention.
If career diagnostic tools are also employed during the coaching process, the employer can also develop knowledge on what they as a business need to implement in order to retain their key talent.
I am not sure I agree with the comment ‘Leadership is an acquired skill…’ Talented people are not necessarily future leaders of companies and often through coaching, individuals may realise that leadership is in fact not one of their key career drivers!
We should be very careful on how we use the word ‘leadership’ alongside ‘talent’ as they mean something very different.
(katie@abravenewworld.co.uk)