The emergence of leadership coaching for executives

Executive coaching is the hot new trend as companies try to maximize the performance of their management teams. Check out this article on coaching from Fortune and consider whether coaching is right for you or for someone on your team.

Once seen as a last-chance effort to turn around flagging careers, coaches for top talent are going mainstream. They’re being brought in for newly hired senior executives, as well as for newly promoted department heads who suddenly must manage many more people. “Leadership coaching is the hottest thing these days,” says Kate Wendleton, president of the Five O’Clock Club, which has turned some of its outplacement and career coaches into executive coaches because demand has been so strong.

According to a July 2011 American Management Association survey, almost half of participating companies use coaching to prepare individuals for a promotion or new role. While half of companies provide coaches to midlevel or senior staff only, 38% make them available to anyone. Coaching’s three most common uses, according to the AMA survey: leadership development, remedial performance improvement, and optimizing strong contributors. “A coach is like a personal trainer for business,” says Erika Andersen, author of Being Strategic and coach to many media executives.

Coaches can run $200 per hour or more, and work can be done face-to-face, on the phone or both.

  

New jobs: Data Scientists

With the mountains of data being generated every day, companies are trying to mine it and make sense of it. The result is a booming job market in this area and a new career track for “data scientists.”

As part of a relatively new field, data scientists may come from many different backgrounds. Garrison says that employers are often looking for two things when considering a job applicant. “The first part is the technical background,” he says. Companies may want professionals with an industry background who are familiar with its specific jargon and trends. “If you want to work for a pharmaceutical company, you might need a degree in biochemistry,” he explains. Other jobs may require only a general degree in business.

In addition to the technical expertise, data scientists and competitive intelligence professionals also need to know where to find data and how to analyze it. Some colleges and universities offer graduate degrees or certificate programs in specialties such as data mining and data analysis. Professional groups such as SCIP also provide training opportunities for members.

Since data scientists spend a significant amount of time using computer programs and algorithms, it may seem logical that a computer science degree would be preferable for these professionals. However, many argue that a degree in physics makes more sense. Loukides writes that physicists not only have mathematical and computing skills but also an ability to see the “big picture.”

Daniel I. Shostak, President of Strategic Affairs Forecasting, has been tracking changes in the field of analytics for several years and says that those interested in working as a data scientist need more than just computer skills. “[They] need to demonstrate very good communication skills because many folks are very skeptical about the value of data driven analysis,” he said. In addition, Shostak suggests that potential job candidates become proficient in the statistical language R and have experience working with computer networks since they are often an integral part of working with large data sets.

As a hot new career, the government has yet to begin tracking data scientist occupational information. However, the Bureau of Labor Statistics (BLS) reports that demand for operations research analysts, who provide some similar services, is expected to jump 22 percent from 2008-2018.

  

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