UK professionals using an executive coach are 20 per cent more likely to earn more than £100,000 a year compared to those who don’t, new insights reveal.
The survey, commissioned by elite business network In Touch, found that almost half (49 per cent) of board-level professionals who have invested in an executive coach are earning £100,000 plus, compared to only 30 per cent of those who haven’t yet made the investment.
Almost three-quarters (73 per cent) revealed that they felt they had got their investment spend back by using an executive coaching – and a similar number (70 per cent) feel it has improved them as a professional.
In Touch’s exclusive findings come following a survey of hundreds of UK-based executives from its membership base as part of the company’s aim to better understand the impact executive coaching has on the salaries and career development of business leaders across the country.
Ros Taylor, Executive Leadership and Coaching Lead at In Touch, said:
“There are a huge number of benefits to having an executive coach, one of these being remuneration, as this new survey shows. It certainly seems there’s a sizable divide in terms of the salaries being earned by those who have an executive coach by their side.
“The role of an executive coach is to help and support clients in their professional and career development and this survey highlights the long-term financial benefits this initial investment can have.”
The research found that nine in ten executives who have used an executive coach would recommend it to a friend or colleague, but most feel is it critical that executive coaches are both experienced and have top-level qualifications.
The findings around the expectations of coaches having the right accreditation and qualifications is something being pioneered by In Touch in 2020, and the company is calling for all executive coaches in the UK to become qualified practitioners, which many are currently not.
“We’re in a time where business leaders are facing more complex challenges than ever before and in recent years I’ve witnessed attitudes evolve. Individuals and organisations are becoming more interested in the qualifications and experience of external facilitators, coaches and agencies they put their trust in to deliver executive training. All of our coaches are qualified and accredited and we feel that’s critical to moving the industry on.
“Many unqualified people are practising coaching and development, but organisations are – and should be – more astute in choosing only to engage with highly qualified professionals in such a key area of personal and professional development.”
The results showed that most people (72 per cent) recognise executive coaching is gaining more widespread acceptance among senior leaders in the UK, with ninety per cent saying it’s no longer simply for the business elite.
Through their network, In Touch provides all members with a range of tools, including executive coaching, to further enhance their career development. Their core membership focuses on helping business leaders to progress at board-level, particularly those who want to transition from an executive to a non-exec position.
Members will have access to a dedicated coach who will provide them with essential skills, knowledge and training needed to effectively develop their professional career.