There are an estimated 47,500 Professional Coaches across the world bringing in an annual income of $2 billion each year. As a relatively new profession (less than 20 years young), how has coaching grown so rapidly? Because it works!
In its February, 2013 Coaching World issue, the International Coach Federation (ICF) highlights findings from its Global Coaching Client Survey. Key among some of the findings is that 96% of respondents indicated they would repeat the process given the same circumstances that prompted them seeking a coach in the first place. That’s an incredibly favorable response.
The ICF cites three factors that contribute to this growth and success:
Productivity – Professional Coaching explicitly targets maximizing potential and in doing this, unlocks latent sources of productivity and effectiveness. At the heart of coaching is a creative and thought-provoking process that supports individuals to confidently pursue new ideas and alternative solutions with greater resilience in the face of growing complexity and uncertainty.
Positive People – In the face of uncertainty caused by workforce reductions and other factors, expectations remain very high. Restoring self-confidence and self-trust to face the challenges is critical to meet organizational demands. The top four reasons people engaged a coach were:
- 80% improved self-confidence
- 73% improved relationships
- 72% improved communication skills
- 67% improved work/life balance
Return on Investment – The coach-client relationship generates learning and clarity for forward action with a commitment to clear, measurable outcomes. Coaching offers a good return on investment for individual clients and offers a significant ROI for companies. From the study:
- 68% of individuals reported they made back at least their investment
- 86% of companies reported they made back at least their investment
With more than 23,000 members and 11,000+ credentialed coaches worldwide, more coaching industry information can be found at http://www.coachfederation.org