A recent survey revealed that 84% of coaches have been undertaking an increasing amount of work in the last two years, with 40% reporting significant growth in their client base. Coaching is on the rise on both an individual level and as a key part of big business. But it’s more than just a passing fad. We take a look at the four ways coaching is set to continue its record growth as an industry in the coming years.
Our values are changing
Work/life balance has risen up the employee agenda significantly over the last few years. The dynamic nature of our economy alongside fast-paced business environments has resulted in long working hours, substantial commutes and slyly checking emails while off the clock. Finding a healthy balance between work, family commitments and personal life can be a challenge.
Four years ago, better pay was the primary reason people across the UK were moving from their jobs to seek opportunities with new employers. Now, the vast majority of people are leaving their jobs in the hopes of finding a better balance. As studies continue to show the impact of a healthy work/life balance on not only individual mental health but productivity and as more young people enter the work market with expectations of more entrepreneurial, free-form work environments – this trend will only continue.
As our values continue to shift and more people are lured by the promise of flexible hours, higher rates and location independence to self-employment – we’ll only continue to see a rise in the number of practising coaches. But coaches won’t only benefit from improving their own life’s symmetry, their work as change facilitators is set to play a huge part in helping individuals and businesses adapt to these changing landscapes.
Better businesses need better policies
‘Flexibility and balance will become more than enticing buzzwords in business. Many coaches will find their niche in this change; helping employees find more meaning and purpose in their work and helping employers in developing more collaborative environments.’
– Matt Poyser – inniAccounts, Director of Customer Experience
Thanks to increased globalisation (driven by technology), we’ve seen the world of business change dramatically. Organisations now need to be continually adapting and learning to stay afloat in new markets. Against ever increasing competition, businesses are becoming more responsive to their customers needs and progressively more aware of the different values, opinions and perspective of a new generation of marketplaces, consumers and employees.
These new demands, combined with technological advances, has fed demand for a more collaborative and flexible working environment. One of the key workplace trends of the 21st century has been the collapse of the corporate ladder. It’s estimated that companies have ‘flattened out’ by about 25% over the past 25 years; losing several layers of management in favour of a more grid-like structure, where ideas flow along horizontal, vertical and diagonal paths.
These rapid changes bring complex challenges; which are already fuelling a growing interest in the use of business coaches. 57% of surveyed companies reported they were now using coaches more than they had in the past to change their organisational culture, develop high potential individuals and gain an edge against their competition. As technology and business attitudes continue to develop, coaches are quickly becoming an integral part of enabling better business practices, increasing employee efficiency, satisfaction and productivity while enabling leaders to make bolder, confident decisions.
The rise of automation
As well as changing our attitudes both in and outside of work, digitalisation is affecting much of today’s workforce. Automation is set to have huge impacts on professions that rely on set knowledge and linear processes. We are, however, a way off being able to replicate the intuition, creativity, people skills and communication tools needed in fields such as coaching. The massive changes brought about by automation will see both individuals and businesses passing through major transitions. Coaches will be in high demand to help find and achieve new goals. While it’s always worth looking ahead and analysing the changes accelerating technology might bring, for now at least, the face of coaching remains a largely human one.
From social media and mobile app tools through to increased global communication – new technology is benefiting coaches, allowing them to reach out to clients anytime, anywhere. Already many coaches are supplementing their face to face sessions with a variety of other media; 62% undertake sessions by telephone, whilst 42% offer Skype sessions. A trend that only seems likely to continue as technology becomes more integrated in every aspect of our day to day lives.
Ageing populations and retirement
With extended lifespans and dwindling pensions, careers are likely to get longer. Many people who might have previously been looking to retirement are now considering alternative careers that slow down the pace and work flexibly while providing an income and a way to continue meaningful work. For many, coaching allows years of experience to be put to good use and given back to others in their former fields.
‘We know from our own clients that many leading professionals aren’t ready to retire. They have interesting, fulfilling work that they want to continue – just at a more flexible pace. We’ve seen that more and more people are intrigued by the idea of becoming contractors, consultants or even coaches when they retire from their official career.’
– Terri Stephens – inniAccounts, Digital Marketing Executive
As the population continues to age, many of us are likely to turn to alternative careers before we reach retirement. Coaching especially is a career that allows its practitioners to work in alignment with their own values, intentions and lifestyle in an industry and area they’ve gained significant experience in or have a unique passion for.
Paving the way forward
At the core of coaching is the enablement of change. Coaches offer a vehicle for analysis, reflection and action to ultimately enable clients to move towards the realisation of their visions, goals or desires. Be that with individuals looking for more confidence or to make a shift into a new career or allowing for businesses to catalyse transformation. As the old cliché goes, the only constant is change. And that’s truer today than ever before, the world around us is changing at breakneck speed. Technology is changing the way we work, expanding our lifespans and helping to shape our values. Coaches are more important now then they’ve ever previously been and will only continue to be an integral part of helping businesses and individuals manage and harness change in the coming decades.
Here at inniAccounts we’re change advocates. That’s why innovation is at the heart of everything we do. From integrated AI to receipt capture, we’re constantly evolving our service to stay ahead of the times. Want to know more about how we’re specifically suited to coaches? You can learn a bit more about us here.