In a recent survey of our coaching practices in over 30 countries we identified a 10 key trends for coaching such as, an increased demand for executive coaching, an increase in the number of executive coaching firms and that demographic changes are creating an impact on the executive coaching industry. Global differences exist between how coaching is utilised and how the industry has developed in different countries. Coaching is more organised in some countries than in others. For example, in Australia coaching is a more organised professional service by far than in El Salvador. In some organisations and countries like Korea, it is a new, trendy thing to be able to say, “I have a coach” - it is like having a new luxury car. In these settings, having a coach is seen as a perk, almost like their “secret weapon” to be more successful, as opposed to using a coach to reach an expected level of performance. The demand for coaching is increasing, there are ‘celebrity coaches’ in the media who are building demand. In some MBA programs, students are able to work with a coach. However, although there is increased awareness about, and proliferation of coaching, many people still do not understand what coaching is, the truth is that coaches are used to improve employee retention, and coaching is seen as a way to increase employee engagement.
The primary trends in our marketplace research affecting executive coaching in no particular order were:
Organisations increasingly buy coaching in the context of a specific business need.
An increasing number of organisations are attempting to build ‘coaching cultures’, which link personal development, leadership development, business outcomes and the coaching model of inquiry and peak performance.
The best Executive coaches are partnering with their clients to truly unearth client needs and collaboratively design a way to assess how well those needs have been addressed at the end of the project. This also ensures that the client gets a customised programme based on their set of objectives rather than a set protocol/coaching programme
Accelerating change has reached a feverish pitch, leading some organisations to decompensate.
Coaches and clients benefit from contracting upfront with their clients on assessing results using pre and post measures, thereby creating for clients the ability to objectively track a better reality through bottom line results. It is also desirable to design into projects a method for constituents’ voices to be heard so the organisation can monitor business.
Competition in the coaching industry has increased.
Some professionals perceive the coach in a role analogous to that of a general practitioner or ‘GP’, wherein the coach is the GP in the spectrum of organisational change initiatives. In this sense, we can create an identity of effectiveness rather than a mentality of “I am a coach and I don’t do that.” Coaches are wearing a variety of hats that support the journey of discovery for the client and the organisation, and then tapping the appropriate skill out of a smorgasbord of skills.
Good organisations are continuing to support using coaching as a strategic tool. What is the organisation trying to accomplish? What does the individual want? How is this organisation using coaching to improve their success? All of these organisational questions are being aligned to the strategic plan
Using high tech solutions is a highly effective way to complement the coaching process. For example, designing collaborative discussion sites through online services, using an intranet for implementation, accountabilities, monthly milestones, and tracking, or using an online survey tool for data collection or to evaluate impact of coaching skills on managers are all great ways to create value and monitor results.
Buyers of coaching services look for background in substantive relevant business experience, technical skills, such as executive development, organisational development, team-building and other specialties.
Buyers/clients are becoming more sophisticated in examining their perceived value of executive coaching and place reduced value on legacy knowledge.
Buyers/clients are becoming more sophisticated in their decision-making process of selecting coaches, such as considering references, recent exposure to the coaching requirement, a dynamic coaching approach with an ability to knowledge transfer with proper certification as a given.
Globalisation and demographic changes are creating additional conditions that benefit from coaching.
Global differences exist between how coaching is utilised and how the industry has developed in different countries.
The demand for coaching is increasing as is the transfer of knowledge requirement to creating Leader as a Coach programmes.
If you are interested in learning more on our recent survey contact email@example.com
The marketplace trends identified above have significant impact on how executive coaching is conducted, marketed, contracted, and publicly viewed. Here are an example of six of the most commonly identified impacts on the executive coaching industry:
It is difficult to have continuity of coaching when rapid change is impeding coaching initiatives.
There is an increasing utilisation of technology to support the coaching process and enhance services.
Increasingly, executive coaches are seeking certification or credentials.
The use of executive coaching within organisations is accelerating, providing many opportunities for coaches who have developed the experience, presentation style and reputation that fits the needs of the buyer.
There is a heightened interest in the development of internal coaching programmes for budget reasons, although concerns remain about how open employees may be with an internal coach.
Coaches need to possess business gravitas together with expertise greater than only ‘coaching skills.’
For a greater insight and more substantive data please contact firstname.lastname@example.org