Introduction.
Executive coaching can be an excellent way to advance your professional career and in today’s fast changing industries an executive coach can be a good investment for motivating you towards achieving your career goals.
However, similar to other industries Executive Coaching is experiencing changes and even some disruption, as this industry grows a greater number of niches will begin to emerge and the trends and demand for these niches will become evermore apparent.
This article will now discuss future growth and trends within the Executive Coaching industry.
Growth and Trends in Executive Coaching.
As much as 70% of organisations expect to invest more money into coaching their employees over the next two years.
Target markets for Executive coaches has traditionally been senior management and executives. Perceptions of Executive Coaching have changed as it is now viewed by many as an important part of a senior level employees personal and professional development. Executive Coaching is viewed as an important action taken by an executive to willingly add to and improve upon their existing talents and competencies, it is no longer viewed as an indication that the employee or business is struggling or is facing financial difficulties, as was often previously the case.
Executive Coaching Trends and Expectations of Certification.
As Executive Coaching has continued to grow and gain greater acceptance and popularity from businesses and businessman, so has the expectation and demand for certification from prospective clients.
Certification builds greater trust from clients and can therefore help an executive coach with acquiring their clients as clients want to ensure that their money will be well spent and that they will receive a positive ROI on their investment. Certification therefore will become an important indicator for clients of a coaches credibility and will therefore influence an Executive Coaches ability in the future to attract clients.
Digital Disruption and Changes in Delivery
App-based platforms are expected to increase. These platforms will make tracking of progress and assessments much more accessible and convenient for clients. These can be used as an additional service by Executive Coaches to improve upon their client experience.
As coaches previously typically shared emails, pdf documents, etc. their is now room for disruption in this space for improved technologies that could support the coaching experience and enable clients the ability to track performance, undertake micro learning sessions and digital evaluations. This could be carried out through the use of these technologies in a much more flexible and convenient manner.
Increasing Use of Positive Psychology and Other Psycho Social Skills.
Increasingly the use of positive psychology and other therapeutic interventions have become an added value and improvement on the service that Executive Coaches can provide their clients. These skills will add to a coaches existing knowledge base and skills set and improve upon their interpersonal skills and understanding of client situations.
Executive Coaching Niches.
The number of coaches who specialise in particular areas is likely to increase. As Executive Coaching increases in acceptance and popularity so will the demand for coaches who specialise in particular areas in which clients require coaching.
Senior Managers and Executives within particular industries may seek coaches who specialise within their particular industry.
The evolution of the coaching industry regarding new technologies is also making coaching more widely accessible and is enabling a greater number of people to work together.
Conclusion.
Executive Coaching is projected to gain continued growth and increased acceptance and popularity Executive Coaching is now being perceived as a method for senior managers and executives to further enhance their personal and professional development.
Coaching Certifications and accreditation will be in greater demand from clients as clients want to trust they will receive a positive ROI on their investment in an Executive Coach.
App-based platforms and other digital technologies will disrupt the Executive Coaching industry as technologies can now provide a more effective, efficient and convenient client experience. This is unlikely to replace in-person sessions and is more likely to be an added service and offering for clients.
The use of positive psychology and other psycho social interventions will be used by coaches to enhance their current skills set and provide a more holistic client experience.
Greater numbers of niches will emerge within the Executive Coaching industry as it continues to grow, many of these niches will based upon Executive Coaches who specialise and have experience within particular industries.
What trends do you see within the Executive Coaching Industry?