Coaching delivers several benefits to a leader despite the lack of trust against it. Based on the research conducted by the International Coach Federation in 2010, an astounding 83 percent of people who have gone through professional coaching admitted that they were content and would gladly suggest it to others. This might come as a surprise, but coaching has expanded to the rest of the world since 2004 with about 30,000 coaches in 30 countries.
In the U.S. alone, the coaching industry has produced USD 2.4billion in revenue and it continued to grow at about 18 percent each year. This is why it has become the second fastest growing industry, coming close to information technology.
The International Growth of the Industry
Plenty of countries already have professional coaches serving them when in need, but they are not evenly spread out. Most of them are in high-income regions of Australia, New Zealand, Western Europe and North America. All of these regions account for the 76 percent worldwide total of professional coaches in comparison to the 11 percent portion of the worldwide population.
For the rest of the world, there are 6.9 coaches for every one million population, while high-income regions have 40 coaches for every one million population. Each of these countries has different reasons on why they considered coaching. For instance, the U.S. implemented coaching to ensure that even middle level managers can successfully lead their culturally-diverse team. Meanwhile, Germany mainly requires coaching to help stabilize leadership and sustain emotional dependence.
The Various Coaching Systems
The coaching industry is diverse enough to offer various coaching systems that meet the needs of their global clients. This includes business coaching that has earned around USD 12 billion and life coaching that is a one billion industry. On the other hand, executive and leadership coaching has generated USD 5 million.
Furthermore, sports coaching has garnered USD 6 billion and career coaching has received 14 billion in revenue.
With the growing awareness of the benefits of coaching around the globe, it wouldn’t be a surprise if all other industries take advantage of this trend.