Boom in executive coaching

We were pleased to get recognition in the recent Financial Times article on the ‘boom in executive coaching’ in which several interesting points were raised about the growing coaching market.

How is it used?

The article highlighted how the use of coaching by businesses has grown over the last 20 years. It has moved from sometimes being viewed as a remedial intervention to being seen as a resource to develop valued employees to take their performance to the next level. It is now much more often perceived as akin to an elite athlete using a personal trainer or coach.

What is the size of the coaching market?

According to the ICF (International Coach Federation) the US spent $2.35bn on coaching in 2017 and Western Europe spent $898m. Some independent coaches build their own client networks, whilst others are matched with clients through intermediaries. Coach membership organisations such as ICF and EMCC offer a search service for coaches accredited with them. Businesses like Praesta have their own team of coaches, and larger clients may work with a number of them.

Low barriers to entry

There are many thousands of coaches working around the world. This can present a challenge for buyers. Low barriers to entry mean that someone could leave a corporate role, take a weekend certificate in coaching and sell their services as a coach on Monday morning. This highlights how important it is to look at coaches’ qualifications and experience to ensure the right level of quality.

In a growing market place how do Praesta differentiate themselves?

Praesta are a well-established firm of coaches, with origins dating back to 1995. There are currently 14 coaches in the UK firm, with some 30 more colleagues working with Praesta International in Ireland, France, Germany, Hungary, Singapore and Australia.

Praesta coaches have all had senior industry and public sector careers prior to undertaking their coaching qualifications. The have experienced for themselves many of the leadership challenges encountered by their clients.

Our coaches have advanced coaching qualifications from 18 months to doctorate level gained with leading providers such as Ashridge, the Academy of Executive Coaching and Henley. All coaches participate in an internal CPD programme. They also commit to regular professional supervision which serves two purposes: quality assurance for clients, and further skills development for the coach.

In addition to 1–1 coaching, we offer team coaching, group workshops and Board reviews, and publish regular “Insight” publications about all aspects of modern leadership.

You can find out more about our services at www.praesta.co.uk