As many reasons are put forward for the rapid proliferation of executive coaching as there are sceptics who believe it is a passing fad. This paper, after analysing the results of recent research into coaching’s effectiveness, proposes that it may be serving a more significant space than one would imagine. Coaching is not simply about producing pragmatic results such as peak performance, behavioural changes and improved results (although it delivers all these benefits). It is a cultural phenomenon in that it is capturing the collective psyche in a significant way, filling a deeply felt need in the unconscious lives of people in organisations. It connects with the ancient archetype of Hestia, representing hearth, centring and a sanctuary for self-focus.