Retaining Talent, Improving Skills, Increasing Engagement: Need for Leadership Coaching On the Rise

New Research Report Released by Sounding Board Uncovers the Business Opportunities Supported by Formal Leadership Coaching

Foster City, California


FOSTER CITY, Calif., Aug. 17, 2021 (GLOBE NEWSWIRE) -- Sounding Board, Inc., the premier cloud-based coaching platform, today shared highlights from its 2021 Leadership Coaching report, with the results helping illuminate the impact of the COVID-19 pandemic on talent development in today's workforce.

Conducted between late June and mid-July 2021, Sounding Board partnered with Chief Learning Officer (CLO) magazine to explore how companies use professional coaching for leadership development and measure the business impact. Feedback from more than 450 learning and development (L&D) practitioners revealed that while 72 percent of organizations report offering some form of leadership coaching, the global economic downturn and shift to a more remote, distributed workplace model has many organizations looking to increase their investment.

Eighty percent of organizations reported that their principal need for leadership coaching is to improve skills for specific individuals, as developing leadership bench strength, increasing employee engagement and retaining key talent have become increasingly important in the current labor force. To support these needs, 67 percent use a mix of internal and external coaches, 23 percent depend on internal coaches and 10 percent rely entirely on external coaches.

"The pandemic brought unforeseen disruption at breathtaking speed to an already rapidly-changing workplace, putting even more pressure on employees at all levels to meet objectives," said Lori Mazan, co-founder, President and Chief Coaching Officer of Sounding Board. "The stakes are even higher for leaders reexamining strategic direction and vision while managing ambiguity. With employees concerned about an evolving workplace, it is imperative that leaders be better equipped to address real anxieties. Professional coaching provides a long-term solution to lessening increasing pressures and growing uncertainty."

In addition to appraising the state of leadership coaching, the research delved into the most desired leadership capabilities, which included self-awareness and communication and how organizations can assess program outcomes. While only 28 percent of participants noted confidence in their ability to measure the business impact, these organizations reported higher positive results of leadership coaching across the board, with significantly higher outcomes for employee productivity, customer satisfaction and leadership bench strength.

"We launched this research to help us understand the state of leadership coaching in 2021, and the results indicate there's work to be done. Companies recognize the inherent value of coaching but haven't figured out how to determine the ROI, and that's hindered program development and adoption for some," said Christine Tao, co-founder and CEO of Sounding Board. "Combining the benefits of coaching with the efficiency of a scalable technology solution makes it possible to overcome these challenges and embrace the opportunities – a clear differentiator in today's market."

On Wednesday, August 18, 2021, at 2 p.m. ET, Sounding Board will present a webinar exploring these findings further. Session attendees will also receive a complimentary copy of the 2021 Leadership Coaching Report. To learn more and register for this event, visit https://www.soundingboardinc.com/webinar/industry-research-leadership-coaching-report-2021/.

About Sounding Board
Sounding Board disrupted a decades-long and well-established coaching business model that was costly and, in a domain, exclusive to senior executives. With the goal of democratizing access to coaching globally, Sounding Board was one of the first to market with a virtual 1:1 coaching program that achieved the economics necessary to expand access to leadership coaching throughout an organization with a specific focus on sustainable leadership capabilities that tie directly to business impact. Sounding Board's best-in-class coach network covers over 60 countries and 15+ languages around the globe. For more information, visit soundingboardinc.com.

 

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