The growth of Executive Coaching Industry in India, over the last few years, gives me immense joy. In the earlier years of setting my business, most of the meetings with potential clients were devoted to building an awareness of the Coaching. The scenario has evolved now, and clients are seeking out coaches for their personal and professional development. The media has played a wonderful role in bring Coaching to the forefront.
Sharing here an article which was published in The Economic Timees.
“Executive Coaching helps successful leaders to become more successful. It is viewed as something special for ‘High Potential Leaders’ to do better in future and improve their retention rate”, explained Dr. PV Bhide, President-Corporate HR, JK Organization during an interview with TJinsite, research and knowledge arm of TimesJobs.com. According to him, the Coaching Industry is growing exponentially in India and is estimated to grow from present Rs. 200 Crore per annum to Rs. 800 Crore per annum by 2014.
Perry Zeus and Dr. Skiffington (of the Behavioral Coaching Institute) defined executive coaching as a time bound dialogue between coach and coachee within a productive and result oriented context. In their view, it is about change and transformation that the coachee aspires, which emanates from asking the right questions rather than providing the right answers.
Rajendra Ghag, Executive Vice President, HR & Admin of HDFC Life christened executive coaching as ‘Gold Mining Mentality’. It is brought into play to unleash the true potential of senior leaders and improve their performance by asking relevant questions. “We hire coaches, who are seasoned professionals from the industry. An ex-chairman of a big company is brought to train senior leaders of our organisation and reduce interference in their work”, he added.
Earlier, executives were reluctant to be coached, but now it is viewed by candidates as a sign of being on an accelerated career growth path. Underlining the challenges of the executive coaching industry in India, Dr Bhide articulated, “There is a need for impetus in propelling research to identify what practices would be more effective from Indian coachees’ point of view. As most ‘Global Coaching Certifications’ teach western coaching models and methodologies.
During one of the Skills Dialogue session, a series of high powered panel discussions organised by TimesJobs.com, industry experts pointed that there is absence of experienced coaches, who have finer business wisdom as compared to what theoretical coaching model based methodologies provide. And, on the demand side there is a need to sensitize CXOs and HR heads to focus on improvement, change, and outcomes rather than merely a feel-good factor.
Suggesting the way forward, Dr. Bhide advised organisations to identify specific domains that can be benefited most through executive coaching and create a culture of coaching by nurturing internal leaders and managers to become coaches.
Together, experts expressed the want to bring in more structure into this emerging industry to help define the engagement models and professional approach that this function requires in the Indian context.