Coaching to Develop Psychological Capital to Support Change

There is growing evidence that psychological capital, that is, an individual’s positive psychological state achieved by a combination of hope, (self) efficacy, resilience and optimism, is linked to wellbeing, work performance and job satisfaction. Furthermore, research suggests there is a strong correlation between work and life satisfaction, indicating that people who have a sense of achievement and success in their work have more fulfilling lives and vice versa. Numerous studies also show that workers who develop positive attitudes and behaviours are more adaptable and willing to face change, and change is essential in our fast-paced and VUCA (volatile, uncertain, complex and ambiguous) world. If developing psychological capital to support change is, as it should be, the aim of organisations, transformational coaching, as opposed to performance coaching, is the process that can make it possible. Starting from the premise that organisations don’t change if people don’t change, this chapter will review the concept of psychological capital and discuss how it can be developed both in individuals and organisations using coaching to support change. It will be argued that specific coaching approaches can better accomplish this purpose, and the theory and practice of those approaches will be explored.