Fact 1: Coaching has grown into a $2 billion industry1
The practice of coaching has matured into a substantial industry, now worth over 2 billion US dollars per annum. In fact, the United States, which is by far the largest market for coaching, is worth over 1 billion US dollars.2
Fact 2: There are 53 300 coaches globally1
According to the International Coach Federation study for 2016, there are now 53 300 coaches globally. This is an increase of just under 20% from the 45 000 coaches reported in 2011 representing a growing industry of professionals.
Fact 3: 30% of coaches have a masters or doctoral qualification3
30% of coaches have achieved a masters or doctoral qualification, whilst 63% have a bachelors or equivalent degree, suggesting that coaches are generally well-educated.
Fact 4: Remedial interventions is no longer the focus of coaching2
In the early days of the industry, professional coaches were primarily hired to perform remedial coaching. Today, this has changed and coaching is rightly being recognised as a tool for accelerating results. Interventions today are more focused on cultivating and supporting high-performance results.
Fact 5: ROI of coaching is between 10 and 49 times for 25% of companies4
The mean return on investment for coaching is seven times the original investment. However, 25% of companies reported the ROI of their coaching interventions as between 10 and 49 times. Those are extraordinary results!
Fact 6: 360 degree feedback is the measure of choice5
Organisations use a 360 degree feedback process as their measure of choice in 29% of cases. This stems from the fact that in many instances, Executive Coaching focuses on behavioural change. Where the coaching is focused on business performance, the IOB (Impact on Business) is a great measure and is applied in 13% of the interventions.
Fact 7: 1 in 3 CEO receives outside leadership advice – but nearly all want it6
In today’s VUCA world of Volatility, Uncertainty, Complexity and Ambiguity, who wouldn’t want a thinking partner to help arrive at the best possible decisions at the best possible time? Latest research indicates that only one in three CEO is receiving external leadership advice, which shows the opportunity for coaching growth in this area.
Fact 8: Executive Coaching relationships last 6 – 9 months6
Most Executive Coaching relationships last for between 6 to 9 months, and I have found this to be true at In2Great Coaching in our client engagements. Generally, at Executive level, the focus of the coaching is a behavioural shift or a strategic change in the business, which takes time to embed and see results.
Fact 9: Only 10% of internal coaches match the needs of top executives5
Internal coaches are those who work within an organisation, coaching and supporting the organisation’s employees. External coaches perform 90% of executive coaching, because the needs of the C-suite are complex.
Fact 10 – Between 25% – 40% of Fortune 500 companies use coaches7
Fortune 500 companies are investing $2 billion in coaching at senior levels, according to FLI Research.
Any way you look at the facts surrounding the coaching industry, you will appreciate the speed at which coaching is a growing. The incredible results that can be achieved through coaching are being recognised by people and companies. If you’re ready to accelerate your success, contact In2Great Coaching here.