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Coaching

Is coaching a dying trend?

Lets get one thing straight, there’s enough work out there for all of you in the world many times over and what’s more the market isn’t really being driven, its happening- despite poor marketing and sales strategies.  If you think that coaching is a bit marginalized and a bit of a cottage industry knock that notion right out of your head now.  It’s a myth perpetrated by large providers who are getting larger and larger.  I know this because I know how some of them have grown in recent years.  In 2006 in the UK alone, more than £18 Billion (yes 18,000,000,000) was spent on training and development.  Now then, what we know is that coaching is featuring as an ever-increasing component of what the industry calls “training”. Corporate business and small business alike are always looking for new cutting edge techniques and solutions. This figure doesn’t even take into account the government-funded sector, so if you think there’s not enough to go around, think again.  Admittedly the private fee paying sector is a lot more difficult to ascertain and little is available in terms of pure statistics but again I believe we are talking hundreds of millions of pounds every year. The huge growth in private traffic coming through my web-site www.coaching-life.co.uk suggests that things have been hotting up for quite a while.  The global development market is obviously far bigger estimated to be $100 Bn.

Fact number 1.  There is loads to go for…more than you could ever handle!

What do companies think of coaching?

Coaching is becoming an increasingly acceptable approach to personal development…buyers are more aware of what coaching at its best can offer”, according to a recent article in “People Management Magazine”.

The coaching market is becoming more sophisticated however and rather than accepting the “one size fits all” coach there is an increasing trend towards specialisation.  Whilst we all accept that at the heart of coaching lies the principal that the solution lies within the individual, people are increasingly looking to source an expert. Lets stop and think about this for a while; my specialisation is coaching business performance, business growth, career development and strategic planning.  I wouldn’t feel right putting myself forward as someone able to address relationship issues for example… not because I couldn’t apply the general rules of coaching to the problem and not because I don’t have to manage any relationships of my own, but without a real grounding in this area, I believe the customer would see through it.  This is where the market is voting so it’s really wise to recognise it.

A poll of 100 executives was carried out by PROfusion Public Relations as part of a study into the benefits of coaching.  These are some of the results:

Companies that provide coaching to executives benefit from the following

Improvement in quality of outputs

48%

Increased productivity

53%

Increases to organizational strength

48%

Improved customer service

39%

Reduction in complaints

34%

Improved retention from those coached

32%

Reduction in operating costs

23%

Improvements to bottom line profits

22%

 

 

Executives who received coaching benefited from the following improvements

Working relationships with direct reports

77%

Working relationships with immediate supervisors

71%

Teamwork

67%

Working relationships with peers

63%

Job satisfaction

61%

Conflict reduction

52%

Organisational commitment

44%

Client relationships

37%

Fact number 2.  Companies like coaching…but you have to know what you are aiming to do.  You should think about defining a few areas of specialism and above all be able to define what the customer gets in return.  In short what is compelling about your offer and why should you be considered?


Coaching in the News




Copyright 2007 SolutionBox Pty. Ltd.




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