Is coaching a growth industry?

Workplace coaching isn't something new. However, with the increasing demands of employees and the highly competitive race to acquire and retain talent, we see this trend increasing at an accelerated pace. Magdalena Nowicka Mook is the executive director and executive director of the International Federation of Coaching (ICF). By comparison, 26% of respondents from suburban communities and 16% of respondents from rural areas indicated that they were aware of coaching.

In addition, it is increasingly appreciated that a coach is different from an advisor or mentor and that, essentially, it is a resource that is associated to support the process of self-discovery. While a few years ago people were largely looking to change careers and become coaches, many are now attending formal coaching training not to change professions, but to add meta-skills to their current profession (for example, adding a dose of technology and getting AI-based training, a “comprehensive evaluation”) and a myriad of added digital health programs. The majority of respondents who participated in a coaching relationship said that their coach had a certification or credential from a membership organization. Coaches and potential clients generally seek certifications from the ICF, IPEC, Sherpa Coaching, the Health Coach Institute and other accredited training institutions.

Here are 5 areas that coaches can take advantage of to thrive and boost their careers in the coaching industry. Coaching first appeared on the scene approximately 20 years ago, gained considerable popularity over the past decade and is now something most organizations pursue, particularly for their best talent. In addition, there are approximately 4,500 trained coaches in India and also several Indian and international training courses. The biggest challenge facing coaches today is that incompetent and untrained coaches are damaging the reputation of the industry.

Through a new offering called Coaching Circles, Chevron leaders can meet in small global groups to discuss and learn through discussions facilitated by experts. There will be greater responsibility within the coaching profession as more qualified and trained coaches become available. While 37% of employees in general were familiar with coaching and 15% had a coaching relationship, millennials had a much higher impact, with 81% knowledge of coaching and 47% commitment to it. As people seek help to overcome personal challenges or to gain clarity about their next steps, the services of a life or career coach will be in high demand.