on padwork:
I'm a huge fan of pad work, it's literally my full time job. 90% of my clients are seeing me for fitness and to learn boxing as a hobby, and I "sponsor" a few competitive fighters (see: I don't charge their broke asses for my time because they don't have a pot to piss in.) I've got a few different sets and styles of mitt work using a combination of thai pads, focus mitts, belly shield, noodles, kick shield, and leg shield. I also started teaching a mitt work class once a week at my gym yesterday where I teach my system of mitts to the fitness boxers and have them hold mitts for each other for a cardio focused class. our typical cardio boxing classes will have between 20-30 participants and my mitt class had 19. the demand is there. people love to hit mitts but have no idea how to hold them properly.
I use pad work for a few different things:
diagnostics
this is the "coaching" side of mitt work. ill hold mitts and see how someone moves and strikes and see what errors or habits they have. hands dropping, weight shifting too far, head not moving, etc. fixing someones problems can be done in any number of ways, many of which don't involve mitts or pads. I agree with
@shincheckin that this is for coaches only, although it doesn't take a genius to tell someone to keep their hands up and chin down when they punch.
technical development
teaching techniques while using pads, or fixing problems with pad work. the main thing pads are good for in my opinion. jab work, slips and rolls, combinations, counter punching, power shots, it's all right there. I don't mind having my classes use mitts for technical developments long as there aren't too many knuckle heads for me to keep an eye on. I'll spend as much time correcting mitt work as I do helping with the punches.
cardio
my bread and butter. I love nothing more than grinding someone into the ground with high pressure, high volume intense mitt work. this is my specialty, i burn nearly as many calories as my fighters/clients when I work mitts with them like this- and I fucking love it. this is one of the main things you can have your students do with each other while holding mitts, especially if you show them a few simple "tricks" to help push their partners.