Coaching has always been an exciting sector to be involved with. Coaches and organizations are determined and passionate, and they are always looking to understand and shape the future of coaching to better serve everyone involved.
With its long track record and unique structure, we believe the Co-Active model has a key role to play in shaping how the coaching market grows. But what does this future look like? What key trends will shape the future of the industry, and where will the new coaching opportunities be?
The International Coaching Federation recently produced an article exploring three major topics that will affect the future of coaching. We think this piece is spot on the money, and so we wanted to share those learnings here.
Increased Coaching Demand
According to the 2021 ICF COVID-19 and Coaching Industry Global Snapshot Survey, coach practitioners are pretty hopeful that coaching will emerge stronger from the pandemic, with 40% saying they are “somewhat sure” and 23% saying they are “extremely confident.” The good projections for the sector are extremely encouraging for the future of coaching.
The increase in projected demand is surely due to organizations recognizing the positive effects of coaching, particularly in a post-pandemic setting. According to a Harvard Business Review report, organizations that incorporate coaching into organizational performance see benefits for retention, teamwork, relationships, and job satisfaction. Once, coaching was regarded as a privilege given only to executives and maybe top management. However, there appears to be a growing consensus that providing coaching programs to employees of all skill levels, including entry-level employees. This approach creates a more effective work culture by helping develop the leaders of tomorrow.
A niche coach, as opposed to a general coach, concentrates on helping a client to reach a specific type of goal. This is another factor influencing the future of coaching: coaches who specialize in specific areas can have more work opportunities than coaches who do not specialize. The niche method is often more direct and effective in the long run.
When someone is starting their coaching business, they may be inclined to reach out to as many people as possible. However, failing to identify a niche can lead to a standstill. People are more likely to hire coaches with specialized knowledge. By focusing on a specific niche as a coach, coaches can set themselves apart from the competition and differentiate their business. It also makes creating a clear marketing strategy much easier.
People nowadays often have a very clear idea of what they want from coaching and are looking for niche coaches who have a specialization that can help them meet their particular needs. Experienced experts who can stay up with new industry trends, news, and information are likely to be more in-demand.
The Importance of Qualifications
Coaching is still an unregulated industry. And when coaching was first becoming popular, credentials and qualifications were considered to be a bonus rather than a necessity. This trend is changing, as more clients ask for confirmation of qualifications when selecting coaches. Sure, anyone can put themselves forward as a coach. However, in the absence of well-defined and rigorous standards, there is a danger that the overall quality of coaching will deteriorate and that clients could have poor experiences.
Almost all coach practitioners and managers/leaders who employ coaching abilities think that coaches should be accredited, according to the ICF Global Survey. They believe they should have completed professional coaching certification programs before taking on customers. This is because coaches who have received coaching certification can ensure that they always put their customers’ best interests first and do not unintentionally cause more harm than good to their clients.
Obtaining coaching accreditation is therefore essential for both individual coaches and the coaching profession as a whole. And at the risk of blowing our own horn, many consider Co-Active Professional Coach Training to be the best effective professional coach training and certification program in the market!
Welcoming the Future of Coaching with CTI
The future of coaching is brighter than ever. In 2019, the coaching industry was worth $15 billion, with a total market value of $7.5 billion in the United States. The market is expected to reach $20 billion this year, based on a 6.7 percent annual growth rate from 2019 to 2022. Here at CTI, we have seen a steady increase in the number of businesses and individuals using coaching services, and we expect this trend to continue.
We’re so excited about what the future of coaching will bring and the role we can play!