What has caused the tremendous growth in the coaching industry?

November 6, 2014

 

Coaching has grown significantly for many reasons, among them:

  • Rapid changes are taking place in the external business environment.

  • Downsizing, restructuring, mergers and other organizational changes have radically altered the "traditional employment contract.” Companies can no longer achieve results using traditional management approaches.

  • With the growing shortage of talented employees in certain industries, companies must commit to investing in individuals' development.

  • The disparity between what managers were trained to do and what their jobs now require of them is widening due to increasing demands for competitive results.

  • People are wrestling with job insecurity and increased workplace pressures to perform at higher levels than ever before.

  • Companies must develop inclusive, collaborative work environments to achieve strategic business goals and to maintain high levels of customer satisfaction. 

  • Individuals who have experienced the excellent results of coaching are talking to more people about it. 

  • People today are more open to the idea of being in charge of their own lives. Coaching helps them do just that.

In short, coaching helps individuals and companies focus on what matters most in life and business, and so the industry continues to grow.

 

How has coaching grown?

ICF, the world’s largest coaching organization, remains successful in its core purpose: to advance the coaching profession. According to the ICF 2012 Global Coaching Study, approximately 47,500 professional coaches are now in business worldwide (bringing cumulative annual revenue close to $2 billion) as compared to 2,100 professional coaches in 1999.

The same report found that more coaches reported an increase rather than a decrease in fees, hours, clients and revenues over the past 12 months. Overall, trend indicators point to a growing profession, also evidenced by ICF adding 2,000 new members a year.

 

How can you determine if coaching is right for you?

To determine whether you or your company could benefit from coaching, start by summarizing what you would expect to accomplish in coaching. When an individual or business has a fairly clear idea of the desired outcome, a coaching partnership can be a useful tool for developing a strategy for how to achieve that outcome with greater ease.

Since coaching is a partnership, ask yourself whether collaboration, other viewpoints, and new perspectives are valued. Also, ask yourself whether you or your business is ready to devote the time and the energy to making real changes. If the answer is yes, then coaching may be a beneficial way to grow and develop.

 

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