Here are my results for this week’s Work Week Challenge! I learned a lot about the coaching industry and where it is headed. Below are 8 Facts I think are important to share. There were tons of articles and blogs on the coaching industry. However, I wanted the facts. All my information came from the 2016 ICF Global Study.
1. Western Europe, North America, and Eastern Europe are the top locations in the world utilizing coaches. Western Europe accounts for the largest share (35%), followed closely by North America, with an estimated 33% share. People are relying less on coaching from manager/leaders and more on Professional Coaches.
2. Apparently I am a fairly young coach. Almost one in five coach practitioners (19%) are in the 50–54 age range, and a little more than half of coaches are between 45 and 59 years of age. This really had me thinking of some great things for the future.
3. Coaches in North America bring in the most income averaging $61,000/yr. The estimated global total revenue from coaching in 2015 was $2.356 billion USD, representing a 19% increase over the 2011 estimate. North America brings in $955M and Western Europe not far behind at $898M (ICF Global Coaching Study, 2016).
4. Who Run The World. Girls! Females account for 67% of coach practitioners and 66% of managers/leaders using coaching skills. Regionally, the female share of coach practitioners is highest in North America and lower in emerging markets.
5. Almost all coach practitioners (99%) reported receiving some form of coach-specific training, with a large majority (89%) receiving training that was accredited or approved by a professional coaching organization. Not all coaches are certified. I believe this number is very high because the survey was taken by ICF Global members and Professional Associations across the world.
6. Who’s utilizing coaching?? Managers were mentioned most frequently (29%). Almost one in four (23%) said they mainly coached executives, with a further 19% selecting personal clients. Love this! Definitely see opportunity to make an impact with this fact!
7. Age Ain’t Nothing But A Number! (Yes, I guess I am making a lot of song references). On average, 60% of clients are under age 45.
8. Here A Coach, There A Coach! Future obstacles for the industry: When asked to identify the biggest obstacle for coaching over the next 12 months, the main concern expressed by coach practitioners was untrained individuals who call themselves coaches (ICF Global Coaching Study, 2016). YES!!!! I feel one of the biggest issue is that there is a misconception on what coaching really is and how it helps individuals. I have 7 certifications in coaching. However, there are many GREAT coaches that have been trained to do great things and aren’t certified. UNTRAINED to me means slapping Life Coach, Business Coach, etc. to your name without the proper certifications or training. It is a huge problem in the industry.