By Debbie Chand
As generational and economic shifts continue to influence our world, rewards and challenges will come in equal measure. What skills, experience and passions do you have that could help others dream as the future unfolds? The future of coaching is brilliant, and here are some of the trends that are shaping this growing field.
1. Increased demand for coaching services. Coaching is on the rise in every sector. Recent statistics published by MarketResearch.com estimated marketsize of the coaching industry was $15 billion in 2019 with a total of $7.5 billion market value in the US alone. The market value is expected to reach $20 billion by 2022 with a 6.7-percent average annual growth rate for the coming years.
The perception of coaching has shifted from a luxury once reserved for high-ranking executives to that of a significant contributor to the success of an organization for all stakeholders. Coaching in all sectors, profit and non-profit, will continue to rise with the focus on management development, professional development, quality assurance and comprehensive business coaching.
2. Greater coaching opportunities within niche sectors. This is one of the most encouraging trends because it reinforces the value of the coach’s unique brilliance. Your experience will play a larger role in the coming years, driven by the greater complexity of problems that individuals and organizations face.
Just as one example, Baby Boomers—who comprise 75 million individuals in the US— are now facing retirement. For the first time in their lives, they are untethered from family and career obligations. Suddenly they’re faced with a big question: what now?
As a niche, retirement coaches are filling the gap. In fact, this is one of the key areas in which those who want to serve older people make their impact. Retirement coaches help clients self-discover their next best steps. Aligning with their true purpose, these clients learn how to create a plan and maximize their life after retirement. Instead of just surviving, retirees learn to thrive with renewed purpose.
Other coaches seek to pass on their knowledge and give back by building up younger generations. As these retirees fill the role of coach themselves, they offer their unique insight on finances, purpose and meaning, and the changing nature of relationships. In turn, their younger clients reap the benefit of knowledge and experience garnered throughout a lifetime—some firsthand accounts of which will be lost within little more than a decade.
3. Recognizable credential to prove qualifications. Coaching remains an unregulated industry yet moves further into the mainstream every day. For this reason, quality assurance is increasingly top-of-mind for anyone hiring you—individuals and businesses alike.
The individual you place your trust in has been vetted professionally and maintains a standard for the services they’re providing. Once upon a time, credentials were optional. Now it has become a requirement for positions within many organizations and even as an independent coach.
The main governing body that provides credentials for the coaching industry is the International Coach Federation (ICF). Dream Releaser Coaching is accredited by ICF.
Dream Releaser Coaching (DRC) is a Life Coaching Certification program that has been certifying coaches since 2010. The trainers on the DRC team are all practitioners in the field for several decades. DRC’s singular vision is “Helping Others Succeed!” When you go high, others go high with you.
Most who apply to become a coach within an organization are required to hold an ICF credential. It is also highly likely that hiring managers and HR personnel started their search, or at the very least a vetting process, through the ICF’s database, the ICF Credentialed Coach Finder.
Holding an ICF credential is one of the fastest ways to build your reputation by establishing your professionalism as a coach. But it’s not just an empty pedigree. The philosophies, practices and requirements enforced for credentials and renewal make you a better coach – not to mention a more successful human being!
4. Measurable results. Future outcomes are not an easy thing to market – harder still if you can’t back up your promises with proven success. While you may have a little more leeway within the personal coaching market, businesses are now demanding proof that you can deliver on the improvements you’re selling. In this way, coaches are not exempt from the demands placed on the individuals they serve: you have to monetize your worth.
Get ahead of the curve by keeping track of the improvements you’re responsible for, whether they’re linked to productivity, employee retention and lower absenteeism, or specific aspects of value related to that individual or line of business. Think return on investment – how have your services lowered costs, increased sales or moved the needle within the life of an individual? Attach a dollar value to it and you’re a big step ahead of the rest.
5. Digital delivery as communication preferences shift. As the demands for coaching services increase, the need for these services to be delivered in the format preferred by the greatest segment of the market. In short, digital platforms are expected to become the primary communication method in coming years. This includes virtual technologies that promote on-demand delivery such as webinars, coaching apps and video conferencing. Digital is also expected to become the preferred delivery method among businesses looking to reduce costs related to travel and schedule time more effectively while still booking top coaches for seminars and workshops.
6. Experience Coaching will become an asset for forward-looking companies. Skills-transfer will soon become more important than ever. Transfer of wisdom and knowledge from one generation to the other will be facilitated through coaching. Far more effective than simply dictating a process, experience coaches begin with active listening then use powerful questions to walk a new employee or executive through the process on their own.
Corporate niche expertise will have tremendous value in coming years. If you possess specialized qualifications and experience, your services as a skills-transfer or experience coach will be in high demand.
7. Coaching as a foundation for lifelong learning. You’ve probably heard the terms “professional development” or “retraining.” They address the same issue: filling the gap between institutional education, professional training and the real world. Necessary for communication and emotional intelligence in an increasingly automated world, a coaching culture that promotes lifelong learning has the potential to boost engagement, employee retention and overall job satisfaction.
How are you growing yourself as the leader? In turn how are you helping your team grow? Is serving as a professional coach in your future? Why not explore it today.
SIDEBAR: Dare to Dream: 15 Coaching Questions
Daring to dream must be accompanied by self-awareness—not just who you are, but where you are. Even your GPS can’t take you anywhere until it knows your present location. Where are you? An engaged coach will ask you a few questions to help self-assess:
Article courtesy of www.availleadership.org, subscribe today for free!