Tuesday, October 12, 2010
New ICF study pinpoints reasons for consumer use of coaching
According to the ICF Global Consumer Awareness Study, professional coaching is being used to help people around the world improve work performance, expand career opportunities and increase self-esteem. In fact, the study found that more than half of participants—51 percent—are at least aware of the still young and growing coaching profession. Of the 48 percent of respondents who were unaware of coaching, one-third indicated they would consider participating in a coaching relationship in the future.
Reasons to engage in coaching are many. The Global Consumer Awareness Study determined common areas in which people are using professional coaching today. More than two-fifths (42.6 percent) of respondents who had experienced coaching chose “optimize individual and/or team performance” as their motivation for being coached. This reason ranked highest followed by “expand professional career opportunities” at 38.8 percent and “improve business management strategies” at 36.1 percent. Other more personal motivations like “increase self-esteem/self-confidence” and “manage work/life balance” rated fourth and fifth to round out the top five motivation areas.
In previous research the ICF found that coaching is also generating a very good return on investment—a median return of seven times the initial investment for businesses—while being used for some of the same motivations mentioned in the latest study.
Companies large and small are optimizing individual and team performance through coaching. IBM and Solaglas Windowcare were recognized by the coaching industry as recipients of the ICF International Prism Award last year for their innovative coaching initiatives. Despite the recent global economic climate, ibm.com of North America reported a 563 percent return on investment from its coaching programs that engage sales teams and managers within the company. Solaglas, a leading UK-based glass replacement and installation company, reported higher customer satisfaction and a return on investment of 490 percent. Company executives believe these gains are small compared to the long-term impact coaching will have.
The ICF Global Consumer Awareness Study, which surveyed 15,000 participants age 25 and up in 20 countries, was conducted independently by the International Survey Unit of PwC.
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