Fees for executive coaches of around #2,000 per day are not uncommon. This compares with an average daily fee of #975 per day among UK management consultants. Executive coaches are hired to: accelerate the movement of a senior person to a more senior or different role; underpin the effective implementation of organizational change; act as a critical friend or sounding board for lonely or isolated senior managers; and to support managers engaged in 360 degree appraisal programmes. There are no widely recognised professional bodies or accreditation standards for executive coaches in the UK; anyone can set up in business as a coach. Executive coaching is largely an import from the US, and has been sweeping the boardrooms of Europe. It is arguably the "hot topic" for meeting senior management development needs in many employing organisations. It is a form of tailored work-related development for senior managers, which spans business, functional and personal skills. There is more than one significant relationship to consider, ie coach and executive, coach and commissioner, and commissioner and executive.
Issues of trust and control emerge in seeking to understand the successful interplay between these various relationships.