January 27, 2020
It seems that the Coaching profession is really taking a firm foothold across the globe. IBISWorld, a well-known provider of business information and market research estimates the business coaching industry revenue increased to $15 billion in 2019 at an annualized rate of 5.6%.
The 2016 Global Coaching Study commissioned by the International Coaching Federation (ICF) highlights that Total revenue generated worldwide from coaching in 2015 was $2.356 billion, representing a 19% increase over the 2011 estimate published in the 2012 ICF Global Coaching Study. It is anticipated that the rate of growth will continue with the use of more advanced technology.
You might ask what is driving this growing demand? Some of the causes may be competition in the marketplace (jobs and businesses), higher performance standards and levels of accountability, a dynamic social and economic environment requiring constant agility, rising levels of mental and emotional stress, and the heightened focus on personal development. I am sure you can relate to all of these!
Coaching programmes can help you to better navigate these challenges, steady your ship and catch the wind in your sails! You can easily see the benefits of coaching at an organizational level in areas such as:
- Increased employee engagement – coaching as an engagement strategy helps to ensure higher levels of productivity and profitability; it is also linked to decreased absenteeism and lower stress levels
- Improved Goal Setting and Achievement – improvement not only in the area of accountability of individuals but also in aligning individual and organizational goals
- Identification and development of high potential employees – helpful in succession planning and the development of leadership skills
- Improved communication – poor communication is often a huge cause of loss of productivity and profitability especially through areas such as high levels internal conflict and poor client relationships
- Stronger management relationships – coaching can help to bridge the divide between management and employees and provide management with the tools to provide more constructive feedback and improve their self-awareness and soft skills
- Employee commitment – staff retention can often be effectively enhanced when employees feel that the Organization has demonstrated a vested interest in their development; it also makes the Organization more marketable to potential employees.
- Deepening levels of learning – often the skills and knowledge gained from training programmes are not applied to real life work situations. The guidance and hand-holding of a coach and help the employee to make this transition and improve the impact of the training.
So, if you don’t already have a coaching programme within your Organization, why not start one in 2020? (You can check out my Executive Results Coaching Programme here: http://bit.ly/ExecutiveResultsCoaching )
And, if you are a Manager, Entrepreneur or Leader, or a Social Service Provider, you might want to consider building your coaching skills to take advantage of the benefits to you as a professional and for the enterprise or clients that you serve.
As you contemplate your next move, check out my upcoming NLP Practitioner Programme with four internationally accredited certifications, including NLP Coach. The programme is designed to radically shift your personal and professional world so that you can achieve the results you want. It also gives you practical knowledge and skills to help you coach others towards their own success. Find out more about it here: http://bit.ly/NLPPracCertification
Until next time, keep focused and positive!
Liz