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Executive Coaching Is Now a Billion Dollar Industry
Demand for executive coaching services prompted the world's leading business coaching organization to offer executive coaching training and certification to its existing
In the past few years, there has been a paradigm shift in the way people think about executive coaching. Not very long ago, making use of executive coaching services was something executives kept to themselves. This is because an executive who used executive coaching was looked upon as someone who was experiencing major problems and was on his way out.
Today, using executive coaching services is no longer the dirty secret it used to be. Executives who appoint or have been appointed an Executive Coach are often regarded as high-performing stars within their organizations - executives who have truly made it and are on a steady climb to the top.
This is what makes Executive Coaching a billion-dollar industry experiencing explosive growth.
This demand for executive coaching services also prompted the world's leading business coaching firm ActionCOACH to add the ExecutiveCOACH program to its suite of services about 18 months ago.
ActionCOACH provides this program to its existing network of successful Business Coaches who have solid corporate backgrounds and have been leaders of large corporations in their previous careers.
The company has developed a world-class executive coaching program with proven tools and methodologies to equip its top coaches in the arena of executive coaching. Due to the burgeoning demand for executive coaching amongst coaches with prior corporate backgrounds as well as their clients who are increasingly seeking this service, the company recently announced its training program to be held in Las Vegas Nevada in March, 2010.
"The ActionCOACH ExecutiveCOACH program provides world-class executive coaching training certification to coaches who are capable of entering large corporate houses," founder and Chairman of ActionCOACH Brad Sugars said. "Our ExecutiveCOACH program is available to only those who have demonstrated success within the system or are from solid corporate backgrounds, having had senior management and leadership roles prior to joining ActionCOACH."
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In one study conducted by MetrixGlobal LLC, companies including Booz Allen Hamilton received an average return of $7.90 for every $1 invested in executive coaching.
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A recent study of Executive Coaching in a Fortune 500 firm by MetrixGlobal reported a 529% return on investment and significant intangible benefits to the business.
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A survey by Manchester Inc. of 100 executives found that coaching provided an average return on investment of almost six times the cost of the coaching.
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An internal report of the Personnel Management Association showed that when training is combined with coaching, individuals increase their productivity by an average of 86% compared to 22% with training alone.
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A Hay Group study of Fortune 500 companies found that 21 to 40% utilize Executive Coaching; Coaching was used as standard leadership development for elite executives and talented up-and-comers.
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A 2001 study on the impact of executive coaching by Manchester Inc. showed an average ROI of 5.7 times the initial investment or a return of more than $100,000, according to executives who estimated the monetary value of the results achieved through coaching*.
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A 2001 study on the impact of executive coaching by Manchester Inc. showed an average ROI of 5.7 times the initial investment or a return of more than $100,000, according to executives who estimated the monetary value of the results achieved through coaching*.
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