An industry that is estimated to be USD 60 million (Rs. 300 crore) and growing at more than 50% per annum in India has a long way to go to reach the size of USD 5 billion in the US. Still a very nascent industry in India, the demand for executive coaches is making this space an attractive business proposition, not only for coaches but also for global coaching certifications and training firms building on the opportunity to bridge the supply gap of certified coaches.
This cover story is special, as for the first time, the research and story have been undertaken by a leader from the industry - Dr. Prakash V. Bhide from JK Industries - who undertook a detailed study on executive coaching in India; and the findings from his study are summarized in the lead article of this cover story. The story is complemented by expert coaches directly commenting on the realities of the industry in India and by case studies on how companies like Aditya Birla Group, Mahindra & Mahindra, Dr. Reddy’s Laboratories, HCL Technologies and JK organization (EZ) are using executive coaching not only to realize the potential of their top executives but also to support the growth of high performers across levels.
What is driving a sudden interest in executive coaching? Constant change, massive amount of information that business leaders have to deal with and the fact that people are reaching managerial positions at a younger age today make coaching a relevant intervention to support executives in achieving organizational and personal expectations. This cover story attempts to bring some insights into the structure, size, type of assignments, and challenges of this industry in India today.
This issue also contains the winners of the “Most Talent-Friendly Website” study conducted by Global Talent Metric (GTM) and People Matters. This study is an effort to identify and recognize the best among the top 300 private sector employers (with over 5,000 employees) in India that provide the best experience of being an employer of choice to their prospective employees on their corporate website and social networking channels. While these are early days for organizations globally in utilizing the potential of their website and social media channels as a source of candidates, we believe these awards will create a benchmark for employers.
In our regular sections, Vivek Paranjpe gives his expert advice on how to choose the right HRMS system and what CEOs can do when they need to replace their head of HR. Elango R. shares his practical and grounded opinion on the cover story theme - on how and when to use executive coaching. The team at People Matters takes this opportunity to congratulate him on his upcoming book “You Don’t Need a Godfather”.
This November 17th to 19th, will witness the NHRDN Conference themed “Live and Breathe the Change”. People Matters talks to the leaders behind this conference to understand what is in store at this landmark event for HR and business professionals.