The Rise Of Coaching In Organisations
The Rise Of Coaching In Organisations: A Statistical Overview
Coaching has gained significant traction in organisations over the past few years. As businesses seek to improve employee performance and satisfaction, coaching has emerged as an essential tool for fostering personal and professional growth.
In this blog post, we’ll explore some key statistics that highlight the increasing importance of coaching in organisations.
1. Growth of the Coaching Industry
– According to a report by the International Coach Federation (ICF) and PricewaterhouseCoopers (PwC), the global coaching industry was valued at approximately $2.849 billion in 2019, with a compound annual growth rate (CAGR) of 6.7% between 2015 and 2019.
– The same report states that there were more than 71,000 professional coach practitioners worldwide in 2019, a 33% increase since 2015.
2. Organisational Investment in Coaching
– A study by the Human Capital Institute (HCI) and ICF found that 60% of organisations surveyed had a stronger focus on coaching in 2017 compared to three years prior.
– The 2020 Executive Coaching Survey by Sherpa Coaching revealed that 68% of organisations used executive coaching, with 27% of them increasing their coaching budgets.
3. Benefits of Coaching in Organisations
– A survey by ICF found that 86% of companies reported a positive return on investment (ROI) from coaching, while 96% of individuals who received coaching said they would repeat the process.
– According to a study by the Association for Talent Development (ATD), organisations that offered comprehensive coaching programs saw a 46% higher employee engagement rate compared to those without coaching programs.
4. Coaching and Employee Retention
– A study by the Corporate Leadership Council found that employees who received coaching had a 32% increased likelihood of staying with their organisation.
– A Gallup study revealed that employees who felt their managers were supportive and provided regular coaching were more likely to be engaged, resulting in 59% less turnover.
The focus of coaching in organizations can be understood through various dimensions. It aims to enhance individual and team performance, foster personal and professional growth, and support overall organizational success.
Key areas of focus include:
1. Skill development:
Coaching helps employees acquire new skills, improve existing ones, and adapt to changing work environments. This includes technical skills, communication, problem-solving, and decision-making abilities.
2. Leadership development:
Coaching plays a crucial role in grooming employees for leadership positions, honing their strategic thinking, and nurturing essential qualities such as empathy, resilience, and adaptability.
3. Performance improvement:
By identifying employees’ strengths and weaknesses, coaches can create personalized plans to boost performance and productivity. This involves setting clear objectives, providing feedback, and monitoring progress.
4. Career advancement:
Coaches work with employees to help them define their career goals, explore opportunities for growth, and create actionable plans to achieve their aspirations.
5. Employee engagement:
Coaching fosters a sense of belonging and motivation among employees by addressing their needs, aligning their goals with organizational objectives, and providing support for their well-being.
6. Organizational culture and change management:
Coaches can facilitate the development of a positive organizational culture and help employees navigate through change by offering guidance, support, and tools for effective adaptation.
7. Conflict resolution:
Coaches can mediate conflicts between employees or teams, helping them develop better communication skills and fostering collaboration.
8. Work-life balance:
By addressing employees’ personal and professional challenges, coaches can help them achieve a healthier work-life balance, leading to increased job satisfaction and reduced stress.
In summary, the focus of coaching in organizations is to empower employees, maximize their potential, and drive organizational success.
The statistics clearly demonstrate the growing importance of coaching in organisations. As the coaching industry continues to expand, businesses are increasingly recognising the value of investing in coaching programs to improve employee performance, engagement, and retention.
As a result, coaching is becoming an essential component of modern organisational culture.
Coaching is clearly a skill that Leaders need to master in today’s world and just as business is evolving, so is coaching.
In early days of coaching, the GROW model was heralded as the holy grail of coaching. GROW stands for Goal, Reality, Options and When.
This model and most that have come after it focus on action and results.
But as we have seen from the above, leadership now has become far more person-centric, yet our coaching models do not reflect this. They remain focused on outcomes of action and results.
What if action and results could be a by-product of truly empowering our people though?
When we treat our people as individuals and take the time to get to know them, their values, their motivators, and coach them rather than their issues true transformation takes place on multiple levels.
They become truly empowered to see their challenges from a much more empowered perspective.
They perform better within the team and organisation.
And they feel seen, heard and valued in a way that is not possible with a purely results focus.
It is time for a new model that supports leaders in facilitating this type of transformation for their teams.
It’s time for a SWITCH.
SWITCH is a coaching model and approach that is truly client-centred, fast to get results and easy to use.
Join a free week of training with the creator of the SWITCH coaching model culminating in the release of the brand new, fully updated SWITCH model for 2023 and beyond. As a leader who cares deeply for your team and organisation, you do not want to miss this.
Taking a coaching approach can be a shift for many, but it doesn’t have to be difficult.
And to make it easier for leaders and consultants, I am teaching The Coaching SWITCH program later this year.
Register for the FREE TRAINING WEEK if you are keen to learn more and create transformation for your clients and team in minutes not months.
Lorraine Hamilton is an award-winning coach.
She is also a former engineer, voracious tea drinker and wannabe race car driver. She is also the founder of the
Feminine Success Accelerator® and the creator of The SWITCH Coaching System ™
and has spent the past 17 years coaching ambitious high-achieving women, writing books and mentoring hundreds of other coaches to greater freedom and success.