Everybody knows that CEOs and Executives are the folks who all have high-priced executive life coaches. But a new study from Stanford University says there's a big gap between the number of executives who want coaching and the number who actually get it.
How many executives want coaching? According to Stanford, virtually 100% want coaching and consulting. How many actually get it? Only 34%. That's a lot of need for executive coaching services that's not being met.
By the way, what's the difference between life coaching and executive coaching? Not much, according to Sherpa. Executive coaches use many of the same communication and awareness-building skills that life coaches use. The difference is largely in who gets coached and how much is charged for it, with executive coaches averaging roughly double what life coaches charge.
To become an executive coach it's important to have a recognized coach certification. Currently ICF certification is preferred by large organizations but many accept other certifications, as well. You also need experience, a great track record and training in areas like positive psychology. Understanding corporate politics may matter, but some coaches say it's more advantageous to come from a background that's completely different from that of big business. To understand why, read the four main reasons CEOs and executives want coaching...
Why do 100% of CEOs and Executives want coaching?
- They want to learn how to handle conflict better.
- They want to learn to mentor and develop talent.
- They need to learn to share leadership and delegate.
- They need to improve team building.