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Case for Executive Coaching Lore Institute 2002

Case for Executive Coaching Lore Institute 2002

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Published by: albertina23 on Jan 06, 2010
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08/24/2011

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T
HE
C
 ASEFO
E
 XECUTIVE
C
OACHING
P
 AMELA 
S. W 
ISE
, P
H
.D.L
 AURIE
S. V 
OSS
, P
H
.D.
RESEARCH REPORT
FROM LORE RESEARCH INSTITUTE
 
oaching is one of the principal toolsbusinesses have for developing theirpeople. Lore International Institutedescribes a coach as a person who helps othersdevelop their knowledge and skills and improvetheir performance through individual assessmentand guidance. The ultimate goal of coaching is tohelp people learn more about themselves and tochange their behavior.Coaching is an especially useful tool at theexecutive level because busy executives have fewother assisted means of continued development.Executives need less formal training but mayrequire more objective and sustained feedbackwith a thought partner—a sounding board—someone who generally cannot be found withinthe organization. Coaching can fulfill thesespecific individual needs; therefore, more and morecompanies are using executive coaching to developleadership skills, retain key executives, and ensurethat their executives deliver the leadership thecompany requires. This leadership capability is asignificant investment and directly tied to successand profitability for most organizations. Therefore,companies that engage in coaching are interestedin seeing direct business results as an outcome.Coaching is not an inexpensive intervention interms of either cost or time. As executive coachingbecomes more prevalent, companies are increasinglyconcerned about the effectiveness of coaching andtheir return on investment from coachingengagements.These are reasonable concerns. Hard data that cantruly address these issues is beginning to accrue;however, most of the evidence to date is qualitativeor anecdotal. Since executive coaching is anemerging field, as the profession continues toevolve, methods for measuring and understandingthe benefits of executive coaching will also continueto be developed and refined. Although we expect agreat deal more attention to be given to the processand outcomes of coaching, enough research hasbeen completed to make a strong initial case forexecutive coaching. This research brief is intendedto review the use of executive coaching, the reasonswhy companies have selected coaching as anintervention, and the documented benefits of coaching. Factors that influence the positiveoutcomes of coaching are also discussed. Themost striking findings from our review are these:
Executive coaching is increasingly prevalentin the business world.
The reasons for choosing coaching go beyondcorrecting problems to challenging anddeveloping executive-level skills that impactthe entire organization.
There is increasing interest in quantifyingthe results of coaching and developing morerigorous ways to measure the impact of coaching on important business metrics.
1
Lore research report
Copyright 2002 by Lore International Institute
®
.
T
HE
C
ASE FOR
E
XECUTIVE
C
OACHING
 C  
"Once original strategies change,you need coaches.Division heads don’t have time tocoach each manager.Plus it’s not theiexpertise;changes are different thanoperations.Most of the executives arecompetent operators,but not competent at  getting changes to take place.That takes special coaching agents." 
Pat Mene VP of quality and merchandising,Ritz-Carlton
 
The results from current studies demonstrateremarkably positive outcomes and benefitsfor coached individuals and theirorganizations, including impressive ROI.
Factors such as “coachability” can influencethe success of executive coachingengagements.
The Prevalence of Coaching
Coaching is here to stay. Since its introduction inthe 1980s, coaching in organizations has steadilyexpanded, moving it beyond a mere managementfad to a viable professional development choice.In 2000, one human capital firm that providesexecutive coaching set out to understand theprevalence of and uses for coaching. Aftersurveying more than 300 companies, theydetermined that almost
60 percent 
were usingcoaches (or other developmental counselors).Furthermore, an additional
20 percent 
intendedtohire coaches within the next year (that is, 2001).
1
According to those figures, fully 80 percent ormore of these organizations should now be usingcoaching. If this sample indicates a generalbusiness trend, organizations that are not currentlyconsidering executive-level coaching are in theminority. In our current and highly competitivebusiness environment, companies are looking forany and all possible avenues to gain a competitiveadvantage. From the prevalence data alone,coaching is frequently chosen to help executives—and their fellow employees—improve behaviorsthat in turn can improve the bottom line.
Reasons for Hiring Executive Coaches
Executives and their companies are now choosingcoaching for a wide variety of reasons. In order tomake the many reasons clearer, we classify them intable 1 below. The reasons expressed for selectingcoaching are directly connected to desired changesat three levels: the individual executive level(intrapersonal), the interpersonal level, and thestrategic or organizational level. The premise isthat changing executive behavior at any of theselevels—intrapersonal, interpersonal, ororganizational—can drive the changes, whichwill impact the business results of the organization.In addition, we observed that coaching is beingchosen as often to address developmental needsas it is to correct or resolve problem behaviors ateach of these same levels. Since changes can beenabled through either development or problemsolving, these foci become the second way toclassify the reasons expressed for hiring executivecoaches. Furthermore, we recognize that veryoften these reasons and foci intersect and overlapeach other, thereby adding complexity to therationale for coaching.
2
Lore research report
Copyright 2002 by Lore International Institute
®
.
“Absolutely one of the best learning experiences.It will play a decisiverole in my future within the companyand personally.” 
CoacheeLore International Institute
1
Manchester, “Tight labor market causing more companies to develop employees through coaching and mentoring.”http://www.manchesterus.com/press-release3-99.html, 6 June 2002.
T
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XECUTIVE
C
OACHING

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