A friend of mine recently shared an article from the New York times which details the harrowing tale of a person who invested their life savings with an "executive coach" and was "emotionally devastated".
I highly recommend reading it.
Though heartbreaking in places, it might serve as a great reality-check for you if you're considering a partnership with a coach. While it can be life-changing (it's changed my life in almost every way), this rapidly-growing and self-regulated industry is also rife with snake oil salesmen and pyramid schemes.
I decided to outline some of the key criticisms of the executive coaching sector and suggest considerations to keep in mind regarding them.
1. Lack of Tangible Results
Critics argue that executive coaching fails to deliver tangible results, making it a questionable investment for professionals. As a Meta Performance™ Coach, I would urge you to always include specific, measurable, and meaningful outcomes in your vision. That said, some of your best results may not always be quantifiable in terms of numbers. The transformation in leadership style, way of being, relationships, decision-making, and communication can have profound effects on an individual's career trajectory, lifestyle, and sustained success.
2. High Cost
The cost of coaching can be an investment in personal development and overall well-being. And for many individuals and companies, the structured, holistic vision creation and accountability provided by a coach can lead to significant improvements in various areas of life, including financial stability—but not all have proven to create these results. Make sure your vision includes an ROI that's worth the investment.
3. One-size-fits-all Approach
Detractors often claim that executive coaching employs a generic, one-size-fits-all approach that does not cater to the unique needs of individuals. However, reputable executive coaches tailor their programs to each client. This customized approach ensures that coaching addresses specific challenges and cultivates individual strengths effectively.
4. Lack of Industry Expertise
At first, it would make intuitive sense that you must hire a coach from your field. But the research is clear. By asking powerful questions without the blindness of familiarity, coaches help clients discover Innovative Ideas outside their "normal". We strongly recommend hiring a coach who is NOT familiar with your industry. They will serve you powerfully because they won’t have the temptation to trade inquiry for advice.
5. Lack of Regulation
Many life coaches pursue certifications from reputable organizations like the International Coach Federation (ICF), Coactive Training Institute (CTI), or Meta Performance Institute (where I was trained) to adhere to ethical standards and possess necessary skills to support clients effectively. Potential clients should choose certified and well-reviewed coaches for expertise. Rather than dismiss the opportunity all together, exercise prudence when making a decision of this magnitude.
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