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Is The Recession Over?
While commentators argue over whether the world economy is recovering, a leading UK management consultant believes that the tide has turned, as there has been a massive increase in organisations using 360 degree questionnaires and executive coaching
Michael Coates said “During the recession one of the first areas to see its budget cut, was the people development function, as in times of difficulty many businesses only think short term and place little emphasis on developing their people. Now after two years of staff cuts, a far greater emphasis is being placed on ensuring that those few key leaders who survived, are being developed to ensure the future success of their business. 360 degree feedback and executive coaching seem to be the most popular responses.”
In 2011, Protostar Leadership Development have seen a tenfold increase in contracts requiring their consultants to facilitate 360 degree feedback and follow up with an executive coach. Michael Coates commented “The very nature of 360 degree feedback systems and executive coaching is that they are one to one therefore require a more significant investment than training. Businesses do not enter into such arrangements unless they are convinced that it will have a positive ROI and that they are targeting their best people. This would only happen if they were confident about the future and were thinking long term. 360 degree feedback and executive coaching are an excellent barometer of business confidence and going by the massive increase in leaders using Protostar for these development interventions, the business climate is definitely improving.”
However is this just in the UK where Protostar Leadership Development are based? Not at all says Michael Coates “Our executive coach team in the USA have experienced a similar rush to develop key leaders. Primarily clients are requesting two of our award winning 360 degree feedback systems, one of which targets those behaviours required by managers after a significant change such as the recession and also our emotional intelligence 360º questionnaire, which is ideal for helping leaders to get the most from their teams who have been through so much lately.”
In addition, those managers taking up the opportunity to have executive coaching are also tending to confirm that for their organisations at least, the future is looking more positive and that they have been identified as the key leaders to ensure that happens. Protostar MD, Michael Coates commented, "While the 360 degree feedback allows us to tailor a very specific development plan for leaders, it is the executive coaching that helps them to rapidly improve their performance. Typically this might help them move from an operational leader to a strategic role or to simply be able to lead in a radically new business environment."
So is the recession over? Well no one really knows but going by the long term view so many organisations are taking to developing their key leaders, it certainly seems more likely. To learn more about 360 feedback go to http://protostar-
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Protostar Leadership Development Ltd are a UK and USA based management consultancy who specialise in developing leaders through executive coaching, training and support during challenging times. http://protostar-